An auction to be held on 7th February will include several pieces of The Beatles and John Lennon music memorabilia-turned-digital asset, with part of the proceeds going towards Julian Lennon’s White Feather Foundation.

While Julian Lennon retains the physical items, NFTs of a black cape worn by his father in the film Help! and handwritten notes for The Beatles song Hey Jude will be sold as unique digital assets.

Beyond the digital representation of the items themselves, each NFT includes audio narration from Julian Lennon alongside imagery of the item.

The most valuable item in The Beatles NFT Memorabilia collection is deemed to be the hand-written notes for Hey Jude by Paul McCartney, with a starting price of $30,000 (£22,260) – though, it’s the final figure could double that.

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Other items within The Beatles NFT Memorabilia auction include NFTs of the Afghan coat worn by John Lennon in the film Magical Mystery Tour and three Gibson guitars given to Julian by his father.

Registration and Bidding is now open for Lennon Connection: The NFT Collection. In collaboration with @JuliensAuctions x @YellowHeartNFT , a portion of the proceeds will be donated to @TWFFofficial to offset carbon via @nori. Learn more at https://t.co/6l5nzO1CHJ pic.twitter.com/bvG7EHAX88

— Julian Lennon (@JulianLennon) January 24, 2022

What are NFTs?

NFTs certify you as the owner of a specific digital item such as a photo, video, audio, game, collectible, etc. Transactions are conducted through the blockchain meaning there’s no intermediary or third-party regulation.

They also enable their creators to receive royalties from every future resale. Since NFT assets are a growing trend right now, brands aren’t missing their chance to take advantage of them.

This has led to criticism of the practice as more and more companies try to ‘tokenise’ their assets with no guarantee that the value at which their sold can be future-proofed.

Recently, payment giants such as Visa and Mastercard have entered into the NFT market.

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