The world of NFTs has certainly developed into an oasis for artists who are looking to cash in big on this new trend. The latest “artist” to get on the NFT bandwagon is Jesse Frohman.
Frohman is a photographer that has worked for some of the biggest publications in news and entertainment in the past. Such as Rolling Stone Magazine, and the New York Times. He just so happens to own the rights to Kurt Cobain‘s “The Last Session”. Since he was the photographer who took the pictures, and he is cashing in on that fact yet again.
An NFT is basically a unique digital file that is sold on the Ethereum blockchain. In this case, the NFT file that will go to the highest bidder is going to contain 104 high-resolution images from Kurt Cobain’s “The Last Session”.
Right now you can go to the site, and look at all of the 104 images that are going to be included in the NFT for free. The starting bid for the auction is set at 27.27 ETH. At the time of writing that is about 75468.10 dollars.
This is not the first time that we see Frohman trying to profit from this session. By all accounts, since he owns the rights to the images, he can profit from them all he likes. In 2014 he actually published a book titled, Kurt Cobain: The Last Session.
Also if you go on his Instagram account he is constantly putting different pictures from the session up for sale in different formats. The sale of this NFT can top all of the revenue that he’s made on the images in the last years for sure.
If you were wondering whether the Cobain family would be getting a portion of the proceedings the answer seems to be very clearly no. As has been the case for all of the revenue that Frohman has made off of the photoshoot.
In an interview with Rolling Stone, Frohman mentioned that there had been no arrangements made for the Cobain family to earn anything from the proceedings. However, he did state that there is a plan in place to have a portion of the proceedings go to the JED Foundation, a nonprofit focused on suicide prevention.
Whether to invest in NFTs is a question that many have been asking. Aren’t you buying something that essentially everyone has access to for free? Sure, but let’s put it this way everyone has access to a picture of the Mona Lisa, but not the original. In this case, it is a bit different.
You could end up being the proud owner of the first NFT drop of Kurt Cobain’s last session. Yet Frohman can continue profiting from the collection. It’s kind of like buying original art pieces, but with a twist!