Madonna and Beeple Collaborate to Launch NFT Collection
Key Insights:
- Music superstar Madonna and world-renowned digital artist Beeple collaborate to launch a new NFT collection.
- Madonna is no stranger to NFTs, with her Twitter profile picture an image of a Bored Ape Yacht Club NFT.
- Beeple’s EVERYDAYS: THE FIRST 5000 DAYS NFT sold for an impressive $69.3m.
Madonna launches a new NFT collection in collaboration with Beeple. The music industry and the digital world continue to unite, with big names from the music industry advocates of NFTs and Web3.
Other music icons that have entered the NFTs space include Nirvana and David Bowie, with Snoop Dogg and Ice Cube active in Web3.
Such has been the furor over Web3 that Warner Music Group (WMG) purchased land in the Sandbox (SAND).
It is of little surprise, therefore, that Madonna leaps into virtuality.
Madonna and Beeple Collaborate to Launch a New NFT Collection
This week, Madonna and Beeple announce a new three single-edition NFT collection titled “Mother of Creation.”
Taking to Twitter, Madonna announced the new NFT collection, which will be up for auction on the SuperRare NFT marketplace on Wednesday, May 11 at 3 pm PST / 6 pm EST.
Madonna also said that all proceeds would benefit The Voices of Children Foundation, The City of Joy, and Black Mama’s Bail Out.
Since the beginning of time……..👀🌎🤰🫃 Leaning into a new virtual world with @beeple
Check back here on Wednesday May 11 at 3pm PST / 6pm EST for the nativity. NFTs dropping on @superrare.
All proceeds to benefit these organizations: @NationalBailOut@vday @voices_org_ua pic.twitter.com/ab2RkP47kv
— Madonna (@Madonna) May 9, 2022
In a video interview, Madonna said that she worked with Beeple on the project for one year, creating something “utterly connected to the idea of creation and motherhood.”
Madonna added,
“Using the opening of each video is essentially me giving birth, whether I’m sitting on a tank in a post-apocalyptic city or I’m in a hospital bed in a very sterile laboratory environment, I’m doing what women have been doing since the beginning of time, which is giving birth.”
Beeple also took to Twitter, tweeting,
“INSANELY HONORED to have collaborated with @Madonna on this project. Excited for the world to see this one.”
INSANELY HONORED to have collaborated with @Madonna on this project. Excited for the world to see this one… 🙏🙏🙏 https://t.co/Tt2g0O1bqm
— beeple (@beeple) May 9, 2022
According to the Mother of Creation website,
“These 3 NFTs are a labor of love a year in the making, as both artists partnered to connect to the idea of creation and motherhood through these visualizations.”
The website also states,
“The triptych was created with infrastructure supported by Moonpay, who will also contribute $100,000 to each charity.”
The latest launch comes amidst a torrid time for the crypto market, with Web3 cryptos also taking a tumble.
Sandbox (SAND) Price Action Bearish as Web3 Cryptos Sink
At the time of writing, SAND was up by 6.19% to $1.80. A mixed start to the day saw SAND fall to a morning low of $1.64 before rising to a high of $1.81.
Technical Indicators
SAND will need to move through the day’s $1.81 pivot to target the First Major Resistance Level at $1.93. SAND would need broader market support to break out from $1.85.
In the event of an extended rally, SAND could test resistance at $2.00 and the Second Major Resistance Level at $2.16. The Third Major Resistance Level sits at $2.51.
Failure to move through the pivot would bring the First Major Support Level at $1.58 into play. Barring another extended sell-off, SAND should avoid sub-$1.55. The Second Major Support Level sits at $1.46.
Looking at the EMAs and the 4-hourly candlestick chart (below), it is a bearish signal. SAND sits below the 50-day EMA, currently at $2.05. This morning, we saw the 50-day EMA pull back from the 100-day EMA, delivering downside pressure. The 100-day EMA also fell back from the 200-day EMA, SAND negative.
A move through the 50-day EMA would support a look at $2.25.
