Prince Harry and Meghan Markle are believed to have the potential to amass over £8million ($10 million) overnight with a strategic leap into the non-fungible token (NFT) market. This comes on the heels of the duo’s recent financial misstep, where their $20 million Spotify deal fizzled out after the release of just one podcast series.
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Earlier in the summer, concerns surrounding Harry’s financial stability and future prospects in the United States with his spouse surfaced. The remedy to their monetary conundrum might lie in the digital realm.
According to Andras Kristof, the founder of Web3 project Galaxis, the Duke and Duchess of Sussex could mint NFTs representing themselves individually or as the collective brand ‘Sussex’. The hypothetical collection could rake in over $10 million as stated by Kristof:
“The world could be their oyster, (…) Anyone with a community or following could create their own digital membership cards (NFTs), and provide value to their community, potentially generating millions in the process,”
Factors such as the magnitude of their fame, fanbase, buyer interest, tangible value provided, and external marketing efforts would play pivotal roles in this digital endeavor.
Could Galaxis add Prince Harry to its list of celebrities?
Galaxis, a platform facilitating individuals in creating their NFTs, has amassed a repository of more than 180,000 NFTs since 2021 for notable personalities like Mike Tyson, Lamelo Ball, and Val Kilmer. The creation of NFTs could be a cakewalk even for the royal couple, reiterated the experts at Galaxis. Yet, the time frame to pocket the estimated sum hinges on the “complexity of the strategy and planning.”
The lucrative allure of rare NFTs, which can be swiftly cashed in by speculators for substantial sums, was highlighted by Kristof:
“Like with any collectibles, you get a lot of speculative investors hoping they can profit from getting in early,”
The best thing since sliced bread
The public’s ceaseless fascination and rumors surrounding Harry and Meghan could act as fuel, propelling the value of ‘Brand Sussex’ NFTs, especially under scenarios like a royal reentry or a split.
As the Royal Mint NFTs proposed by Rishi Sunak failed to see the light of day, Harry and Meghan could be the first to create a proper British-themed collection.
For the Sussexes, embracing the NFT space could symbolize more than just a financial rebound. It’s an opportunity to meld their brand with cutting-edge technology, potentially inaugurating a new chapter of royal engagement with the digital frontier.