NFTs are going mainstream and Malaysia’s Genting Group’s ResortsWorld, has pioneered uncharted territory in Las Vegas. On May 17th, 2022, The Farrah Fawcett Foundation and MORE Management will release for sale, the highly-anticipated NFT collection (www.farrahnft.com), based on the world-famous red bathing suit poster. It is now currently on display at Resorts World Las Vegas prior to going on sale in the “Americana” section of the most expensive casino on the Strip, with a price tag of $4.3 billion.
The best-selling poster of all time, with a record-breaking 12 million copies sold, has been recast as an NFT, including limited edition variations of the poster by award-winning NFT artist, Elise Swopes. The different variations will be on auction beginning on May 17 at www.farrahnft.com.
While NFTs have taken off in New York, Miami, and Los Angeles, MORE Entertainment CEO Peter Klamka and developer of NFTs, says it’s new in Vegas. “I have been doing crypto-related [projects] in Las Vegas going back seven years, with almost no success. Las Vegas, from the outside would appear to be a crypto friendly destination. It is not: [we got] a lot of pushback. But the opportunity to debut the Farrah NFT collection at Resorts World demonstrates how Las Vegas, the entertainment capital of the world, is moving towards a cryptocurrency powered future.”
But ResortsWorld took a chance and remains consistent in its embracement of technology and all things future-oriented, having been the first to partner with GrubHub, which provides room service to its 7,000+ rooms.
The Farrah Fawcett NFT is a strong public image and face for their “Americana” section, which is a strong contrast from the casino’s actual Asian theme. Part of the delay in opening ResortsWorld last year was for last minute design changes to tone down the Asian theme to reach a wider audience. Demographically, Farrah Fawcett’s iconic image and NFT collection, made too much sense, joining Elvis, Liberace and images of old Vegas in iconic Americana imagery. A physical display also attracts a cross section of people to visit, take pictures and put it up on Instagram.
“We are thrilled to partner with Resorts World Las Vegas to unveil this special NFT collection. Farrah loved Las Vegas and would be so excited to see ‘the poster’ in lights on the Strip,” said Alana Stewart, President of the Farrah Fawcett Foundation. Proceeds from the NFT sales will go to the Farrah Fawcett Foundation, a non-profit set up by Farrah in support of HPV-related cancer research, prevention and awareness.
“It's the best selling poster of all time, it should be an NFT.The next generation is interested in this but it also brings 50 year olds to the NFT community. Her foundation owns the copyright so the proceeds go to her foundation,” Klamka says. Currently, members of his MORE brand, are between 21 and 50 years old, mostly crypto enthusiasts of all racial and educational backgrounds. Klamka even mentions one of his members is a crypto billionaire that works from his mom’s basement, highlighting the diversity of backgrounds in our youth.
Klamka pushed the idea and was surprised how receptive ResortsWorld was to all things crypto. “Much to my surprise, they were not only interested but supportive and aggressively pursuing promotional opportunities. They put [an NFT] on the side of the building, which has never been done before. There has never been an IP launch at the Las Vegas Strip on 100,000 Square feet.” He sees it as something very promotable and a great first step in future big crypto deals. This West Tower LED display is highly visible on the Strip and across the entire Las Vegas valley.
“Working with companies like MORE Management furthers our commitment to be the most technologically advanced resort on the Strip and explore opportunities in crypto,” said Scott Sibella, President of Resorts World Las Vegas. “We are excited to use our incredible LED assets to showcase this NFT collection.”
After Klamka’s work with major celebrities like Mike Tyson and Tiger King’s Joe Exotic, he realizes the secret mix is nostalgia with a twist, which attracts the broadest audience, from the older generation seeing this as nostalgic and a “fountain of youth” to the obvious younger generation of investors looking for high end collectibles. ResortsWorld “management realized what worked in old Vegas doesn’t work in contemporary Vegas. So this is how you cultivate an audience.”
The actual launch on May 17th to 23rd, will be featured in a sports book auction, a “total guy thing”, Klamka says. The NFT treatment of Farrah Fawcett had an award-winning black female artist, Elise Swopes, who “reimagined” the poster, coming from a background of not growing up with Farrah, but bringing in a valuable younger and fresh perspective. The resulting vision is a 2022 update on the 1970’s iconic image with motion and movement, and a focus on the folded poster, which was iconic for many young men growing up idolizing Fawcett during her heyday. Past meets future, old meets young, nostalgia meets contemporary.
Klamka recalls the business savviness and DIY mentality Fawcett had in the day, when female entrepreneurs were not as common. Farrah spent $350 of her own money for the outfit and the photo shoot but most importantly, owned the copyrights. Now past her death in 2009, her charitable foundation still owns the copyright and generates income to fund the important work of cancer research. That entrepreneurial spirit and Farrah’s story is a great backdrop for the NFT and crypto investors charting new territory, but also with a heart for philanthropy.
220 NFTs will be sold from $500 and up on a first-come-first-serve basis on farrahnft.com, along with one special version being sold at a starting bid of $2,500. This special bundle, available at the in-person launch will include extra Farrah images that haven’t been released before, a stay at ResortsWorld, a visual canvas and tickets to the Farrah Fawcett Foundation gala. All proceeds will directly benefit the Fawcett foundation and cancer research.
The demand has been incredible, Klamka says, which ranges from celebrity buyers to people with a strong connection to Farrah and nostalgia, cutting across economic barriers. Klamka loves “bringing in mainstream middle America type of people, not just Silicon Valley”, as he struck gold with Tiger King and melding Joe Exotic and Marilyn Monroe with a Warholian twist. “Tiger King fans were not crypto fans so we switched it around a little bit and made it playful and interesting.” This desire to bring generations together has been the impetus for Klamka’s current and future projects.
Klamka shares a moving story of a middle aged woman who contacted him regarding the NFT, which she wanted to purchase for emotional and nostalgic reasons. She shared that her brother died of cancer and this was always in his room. “I’m buying this to remind me of him”. Farrah Fawcett’s iconic photo is a “fountain of youth” for many in an older generation.
But for the younger investors, NFTs should be purchased on the speculative section of your portfolio. Klamka says there will always be “some winners or some losers so buy things you like and buy things you don’t have lots of,” in the name of diversification.
As far as what MORE has in store, there definitely is more, as they are set to premiere an Audrey Hepburn NFT collection in London or New York, and look towards the opening of some NFT nightclubs in Los Angeles and Las Vegas. These clubs will provide entertainment for the crypto kid club, but also education for those who are not yet in the club but want to learn.
The NFT Lounge location has not been announced but Klamka shares some exclusive exciting details. “It will be a 2,000 sq ft. upscale bar and lounge, with NFTs on the wall, great for cryptos who love NFTs but if you know nothing, that’s cool too.” The MORE club itself is like an American Express Lounge - member dinners with celebrities like Daymond John, 21 Savage and Cardi B in an up-close and intimate setting, services in Vegas like access to UFC fights, Lamborghini rentals and full concierge services and much more. “It’s just starting,” Klamka proclaims.
You can view the Farrah Fawcett NFT exhibit now in Las Vegas at Resorts World, with a 50 foot ball inside, which rotates through the day and night. On farrahnft.com, the limited edition NFTs will be on sale starting May 17th, 2022.
Marc Ang (firstname.lastname@example.org) is a community organizer in Southern California and the founder of Asian Industry B2B. He is also a financial planner, investor, philanthropist and loves supporting great causes that bring people together. Marc’s book “Minority Retort” will be released in 2022.