Look, we're sorry to be talking about NFTs again but it's the metaverse's world and we just all have to live in it, mmkay? The latest NFT news, however, doesn't concern Bored Ape Yacht Club or a Banksy piece or a massive scam, and instead is the announcement that we are now eligible to own a color. A color.
There's a new NFT marketplace by the name of The Color Museum, which has made 10,000 sRGB (standard red, green, blue - but you knew that) colors available for purchase as an investment. Any time an NFT is sold on the marketplace which uses the specific color hue that you (or whoever) owns, the owner is eligible to a royalty from the use of that color. A bit like when Mariah Carey cashes in from the radio stations at Christmas.
"Out of 16.7 million available in the sRGB color space, only 10,000 colors will become a Color NFT. Just so you know, the human eye can see about 2.3 million colors*," states The Color Museum's website, which is currently adding interested color-buyers to a waitlist.
In a bit of a slimey soundbite, the owner of The Color Museum marketplace told Motherboard that "we're going to be turning colors into money"- which sounds like we're living in an episode of Black Mirror that didn't have a happy ending.
Popular NFT markerplact OpenSea charges 2.5% as a transaction fee to all sellers, while The Color Museum aims to have 1.25% aimed at sellers and buyers equally. "The Color Museum’s development team nets half of the proceeds and then disperses the rest proportionately among the color owners through a self-executing, pre-coded smart contract."
Perhaps the most fun part (asides from potentially cashing in?) is the freedom to name your color once you are the owner of said hue. You could literally call your color 'Nipply pink', 'armpit stain' or even 'Kate Lucey Is Queen Of The World', and it would be fine. Color name suggestions on a postcard, please.
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Tell us what you think!