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<ul class="summary-list"><li>Rocker <keyword id="12103675" type="UNKNOWN" weightage="60" keywordseo="ozzy-osbourne" source="Orion">Ozzy Osbourne</keyword> is getting into the <keyword id="11919795" type="UNKNOWN" weightage="60" keywordseo="nft" source="Orion">NFT</keyword> market with his collection of "Cryptobatz". </li><li>The NFTs are a nod to when he infamously bit off the head of a bat at a concert in Iowa. </li><li>The former Black Sabbath singer's 9,666 NFTs are slated to go on sale in January. </li></ul>Ozzy Osbourne is taking inspiration from a legendary concert he held nearly 40 years ago as he jumps into the multibillion dollar market for non-fungible tokens. The "Prince of Darkness" and former lead singer of English heavy metal band Black Sabbath will launch "Cryptobatz," a collection of 9,666 unique bats in the form of NFTs. The collection will go on sale in mid-January. The news was first reported by <a href="https://www.rollingstone.co.uk/music/news/exclusive-ozzy-osbourne-announces-nfts-cryptobatz-collection-8800/">Rolling Stone UK</a> late Monday."Every cryptobat trait has been creatively directed by Ozzy Osbourne. Unlike some of Ozzy's previous bat friends, these ones live safely in the metaverse and are not edible… yet," said the <a href="https://www.cryptobatz.com">announcement on the Cryptobatz website</a>. "Cryptobatz" is a reference to Osbourne <a href="https://www.express.co.uk/entertainment/music/1386522/Ozzy-Osbourne-biting-bat-head-off-Sharon-Osbourne-Black-Sabbath">biting the head off a live bat</a> during a solo concert in Des Moines, Iowa. January 20, 2022, will mark 40 years since the infamous incident took place at Veterans Memorial Auditorium. The 73-year-old Osbourne created the collection with a new NFT studio called Sutter Systems. They say it will have a never-before-seen feature that will allow a Cryptobatz to "bite" and mutate with another NFT from an owner's digital wallet, creating a mutant bat that shares the digital DNA of both tokens. "I've been trying to get in on the NFT action for a while so when I asked Sharon for a Bored Ape for Christmas after several failed attempts of buying my own, and she said no, so I decided to create my own," Osbourne told Rolling Stone UK, referring to his wife, Sharon, and the <a href="https://markets.businessinsider.com/news/currencies/bored-ape-yacht-club-nfts-beat-cryptopunks-first-time-price-2021-12">Bored Ape Yacht Club collection of NFTs</a> that launched this year. NFTs -- or digital representations of artwork, audio and other collectible items -- enjoyed a booming market this year, helped by demand for so-called Bored Apes.Total NFT trading volume reached $23 billion in 2021, ushering in the best year yet for the market, according to <a href="https://dappradar.com/blog/2021-dapp-industry-report">crypto analysis platform DappRadar</a>.

Rock star Ozzy Osbourne will launch an NFT collection called 'CryptoBatz,' a nod to when he infamously bit the head off a bat in 1982

<ul class="summary-list"><li><keyword id="11413729" type="UNKNOWN" weightage="60" keywordseo="ikonick">IKONICK</keyword>, a canvas-<keyword id="1105" type="PERSON" weightage="60" keywordseo="art">art</keyword> company, blends pop culture and quotes into high-end art millennials love.</li><li>Now, it plans to disrupt the NFT space. It dropped its first NFT last month, earning $100,000 in sales.</li><li>The founders spoke with Insider about tapping into the millennial art buyer and the future of <keyword id="902592" type="PERSON" weightage="60" keywordseo="NFTS">NFTs</keyword>.</li></ul>"Dreams weigh more than excuses." So says an all-white, bold font splashed across a seesawing elephant and dancing butterfly in a mystical-looking forest. It's inspirational, colorful, and a bit magical - like a motivational Instagram meme brought to life. It also happens to be a non-fungible token, a digital file tradable by <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite" id="docs-internal-guid-7af2aad9-7fff-70d2-9522-a8d0bd32b751">blockchain</a>, and the brainchild of the millennial entrepreneurs <a href="https://www.instagram.com/markbrazil/">Mark Mastrandrea</a> and <a href="https://www.instagram.com/cole/">Jeff Cole</a>, the cofounders of <a href="https://ikonick.com/">IKONICK</a>, an online canvas-art company. It was IKONICK's inaugural NFT drop, sold as two different editions that raked in over $100,000 in sales collectively. "This space is moving faster than anything I've ever seen in my life," Mastrandrea said of <keyword id="10871093" type="UNKNOWN" weightage="60" keywordseo="crypto-art">crypto art</keyword>. The <a href="https://nonfungible.com/nft-report-2020">$250 million NFT market</a> is new for Mastrandrea and Cole, who founded IKONICK in 2016 as a way to make art both affordable and aspirational to millennials, translating pop culture and inspirational quotes into something worth hanging on your wall. Mastrandrea said they would be "stupid" as a digital art company to not take <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite" id="docs-internal-guid-7c2f84e2-7fff-8d9c-56eb-69ab115e35e4">crypto</a> art seriously. NFTs shot to fame in March, when Beeple's "Everydays: the First 5000 Days," a collage of images, sold for $69.3 million, <a href="https://www.washingtonpost.com/entertainment/museums/beeple-digital-artwork-sale-perspective/2021/03/15/6afc1540-8369-11eb-81db-b02f0398f49a_story.html">the third-highest price</a> paid at auction for a work by a living artist. That month, people <a href="https://www.businessinsider.com/why-are-people-buying-nfts-investing-in-nft-crypto-art-2021-3">dropped millions on crypto art</a>. NFTs have been around for about five years, but the craze has seemingly come out of nowhere, fueled by the wealthy, who had extra time and money on their hands during the pandemic; the popularity of bitcoin; and the volatility in prices. Mastrandrea and Cole hoped to dominate this emerging space. Until May, IKONICK only sold canvas art. Canvases range from $90 to $650, depending on the size and depth, and feature everything from an <a href="https://ikonick.com/products/pause-if-you-must">image of a cassette tape</a> emblazoned with "Pause if you must. But don't stop" to a meme of "Mona Lisa" with hundred-dollar bills underneath her canvas, aptly titled "<a href="https://ikonick.com/products/money-lisa">Money Lisa</a>." Some are even the product of cobranded art collections made with Monopoly, Peanuts, and the NBA, among others. Within 18 months of launching, the founders said, IKONICK raked in $10 million in sales in canvas art alone, meaning thousands upon thousands of pieces sold. Gary Vaynerchuk, an entrepreneur, and Scooter Braun, an investor and record executive, became strategic advisors. In 2019, an "outside investment" valued the company at $30 million. With the launch of IKONICK NFT, Mastrandrea and Cole aim to take their company to the next level using the same DNA they said fueled IKONICK's initial success: value and storytelling. Much like they made high-quality art accessible, the duo plans to produce rare, high-quality NFTs with owned IP, inspired by their canvas-art designs and geared toward the millennial investor. Since they already have existing art, animating it to produce an NFT wasn't difficult, they said. But, they added, the process was tedious, given how new the market is. They're focused on producing both proprietary designs and licensed NFTs, the first licensed partner of which is Popeye - the sailor man, not the fried chicken. They've also established <a href="https://www.openresidency.com/">Open Residency</a>, a new-age artist management and creative agency, to provide creative, marketing, and distribution support to brands and artists also looking to enter the NFT space. Their roster includes Gal Yosef, a 3D artist and 21st century sculptor, and Alex Alvarado, an artist at Disney Animation. <div type="image" title="Jeff Gal Alex Open Residency" height="1655" width="2206" msid="83378573" hostid="261"></div>"There's a really great, more cerebral story that we can tell with not only IKONICK and Cole but with bringing in these really talented artists as well," Mastrandrea said. Through both their canvas and NFT art ventures, as well as their new agency, Mastrandrea and Cole are staying on top of all the ways a new generation of art buyers is reshaping the art market. They spoke to Insider about how they created social-media-inspired art for millennials, their plans to dominate crypto art, and the future of NFTs. <h2>Speaking to the millennial art buyer</h2>Mastrandrea and Cole are betting big on a <a href="https://www.businessinsider.com/nft-art-crypto-revenue-stream-death-of-the-artist-revival-2021-4">new phenomenon</a> during a time when the art market is shrinking - <a href="https://www.artbasel.com/about/initiatives/the-art-market">by 22%</a> in 2020 to $50.1 billion in sales, the lowest level since the Great Recession. But the young and tech-savvy buyer that is the wealthy millennial could be <a href="https://www.businessinsider.com/rich-millennials-disrupting-art-market-crypto-nft-non-fungible-tokens-2021-3">saving the art market</a>. Pre-pandemic, they were already digitizing the space, more willing to <a href="https://www.businessinsider.com/rich-millennials-investing-art-flipping-build-wealth-2019-4">buy art online</a> than other generations and dropping more than $100,000 doing so. Instagram in particular had become a tool for both emerging artists and millennial collectors, <a href="https://www.adweek.com/digital/influencing-the-art-market-millennial-collectors-social-media-and-ecommerce/">Adweek reported</a>. The online trend was only exacerbated during 2020, as wealthy millennials <a href="https://www.businessinsider.com/millennials-gen-z-pandemic-investments-spending-toys-vintage-clothes-animals-2020-12">leaned into art and culture investments</a> during quarantine. Come March 2021, they began reshaping the art market further as they <a href="https://www.businessinsider.com/rich-millennials-disrupting-art-market-crypto-nft-non-fungible-tokens-2021-3">led the crypto craze</a>. <a href="https://open.spotify.com/episode/6NaGjxDYKeQqwM8tUnvILv?si=L-ZFEPpbTb6pHrXN7mIbAQ&amp;nd=1nd=1">Sixty percent of bids</a> on Christie's NFTs overall were made by those under the age of 40. <div type="image" title="jeff monopoly lifestyle gallery (1)" height="2499" width="2500" msid="83378576" hostid="261"></div>It's a consumer that Mastrandrea and Cole know well. Consider the winners of their Eternal Auction: 20-something male millennial entrepreneurs who purchased 10 pieces of IKONICK canvas art in the past. "It was literally us four years ago," Cole said. Mastrandrea and Cole have known each other for about a decade, since working together on marketing and design, respectively, at a luxury hat company. Back in 2014, Mastrandrea met a young artist in Boston and began managing him. The experience made Mastrandrea realize that there was a hole in the market for affordable art, he said. At the same time, Cole noticed that his Instagram feed was full of motivational quotes and memes, and the idea to put pop-driven art that spoke to millennials on <a href="https://www.instagram.com/ikonick/">social media</a> was born. Cole said he was able to combine a high-end feel with affordability, which helped drive a compulsion to buy, like, and share. "I thought of a way to make motivational stuff cool," he said. "I was kind of marrying high-end art with what was going viral on the internet." While Cole may be the creative mind of the operation, Mastrandrea oversees the business side. In the beginning, they said, they worked early mornings, late evenings, and weekends until they sold enough pieces to quit their jobs and take on IKONICK full time. Now, IKONICK is a team of 12. It wasn't until January that they learned what NFTs were, when Vaynerchuk brought up the latest form of cryptocurrency during their quarterly business meeting. "We started going down a rabbit hole, and it's been insane," Mastrandrea said, adding that he spends about 15 hours a week self-educating himself on NFTs by reading the latest news, watching YouTube videos, looking at the marketplace and artists, and talking to people. "Conversations with people in this space are always going to unlock something," he said. <h2>A 'wild, wild west' of art</h2>"I think NFTs are going to be as big as social media and the internet," Mastrandrea said. "There's going to be a zillion types of applications, but in the here and the now, the first most adopted application is probably in the art scene." Mastrandrea said NFTs are changing the concept of ownership in the art world. An NFT and blockchain gives a hard stamp of approval that can offer true ownership to the consumer, he said. For digital art businesses such as IKONICK, he added, it also protects their IP so competitors can't create knockoffs. But there's also an element of fractional ownership, in which multiple people can share ownership of art they wouldn't be able to afford otherwise. Mastrandrea likens it to investing in stock. If an NFT costs $100,000, for example, four different people could put in $25,000 to own it. <div type="image" title="Mark and Jeff Shopify (1)" height="698" width="931" msid="83378578" hostid="261"></div>The most interesting thing to Mastrandrea is how NFTs are deployed in the real world. He said technologies are emerging to help display them. As an example, he mentioned Mark Cuban's <a href="https://lazy.com/">Lazy.com</a>, where you can showcase NFTs. "It's just a wild, wild west of how you can display art," Cole added. But whether the market lasts is an open-ended question. The number of NFT sales for the week ending June 4 is about half of what they were during March's peak, the industry tracker <a href="https://nonfungible.com/market/history">NonFungible.com</a> showed. Mastrandrea thinks NFTs are here to stay: "It is, in my eyes, the safest way to validate true ownership of something. It's going to disrupt all industries - insurance, textbooks, art, music, video. NFTs are going to be an underlying technology for everything and anything." The problem is that the technology for NFTs is underdeveloped, he said, with applications not fully built yet. For example, gas fees - fees you have to pay to buy or sell an NFT - are still high, around $200. Mastrandrea anticipates these costing zero in the future. He likened it to the early days of the internet, when you needed dial-up to connect. "There's going to be a tipping point," he said. "That's what's going to unlock everything." <a href="https://forum.businessinsider.in/">For a more in-depth discussion, come on over to Business Insider Cryptosphere</a> — a forum where users can deep dive into all things crypto, engage in interesting discussions and stay ahead of the curve. SEE ALSO: <a href="https://www.businessinsider.in/cryptocurrency/news/investments-in-crypto-hit-17-billion-in-the-first-six-months-of-2021/articleshow/83740327.cms">Investments in crypto hit a new record of $17 billion, but Indian funds are yet to jump on the bandwagon</a> <a href="https://www.businessinsider.in/cryptocurrency/news/indian-cryptocurrency-exchange-wazirx-has-listed-shiba-inu-tokens-for-trading-in-indian-rupees/articleshow/82731429.cms">Chiacoin claims to be an eco-friendly cryptocurrency — here's how it works</a> <a href="https://www.businessinsider.in/cryptocurrency/news/here-is-why-a-ban-on-cryptocurrencies-may-not-be-even-possible/articleshow/82741310.cms">Is a ban on cryptocurrencies even possible?</a> <a href="https://www.businessinsider.in/cryptocurrency/news/latin-america-and-south-asia-show-two-ends-of-the-crypto-regulatory-spectrum/articleshow/83638437.cms">Even as Latin America embraces Bitcoin, Southeast Asia is clamping down on cryptocurrencies</a>

Meet the millennial crypto-art entrepreneurs backed by Gary Vaynerchuk who want to dominate the 'wild, wild west' of the NFT market

Hi and welcome to this weekly edition of Insider <keyword id="35666" type="COMPANY" weightage="100" keywordseo="advertising">Advertising</keyword>, where we track the big stories in <keyword id="6354777" type="COMPANY" weightage="60" keywordseo="Media">media</keyword> and advertising. I'm Lucia Moses, deputy editor here.Remember you can sign up to get this <keyword id="621414" type="PERSON" weightage="60" keywordseo="Newsletter">newsletter</keyword> daily <a href="http://newsletter.businessinsider.com/join/4np/insider-advertising">here</a>.First, senior reporter Lauren Johnson is hosting a webinar about how advertisers can navigate the death of third-party cookies on April 22 with execs from The Trade Desk, Mars, The Washington Post, and R/GA. <a href="https://www.businessinsider.com/how-advertisers-can-navigate-the-death-of-third-party-cookies-webinar-2021-3">Sign up here.</a>What we're following this week: <a href="https://www.businessinsider.com/advertisers-rate-nbcuniversals-streaming-service-peacock-one-year-in-2021-4">Peacock's big test</a><a href="https://www.businessinsider.com/vice-media-has-made-layoffs-in-its-digital-unit-2021-3">Recess takes on PepsiCo</a><a href="https://www.businessinsider.com/playboy-launching-nfts-nifty-gateway-partnership-strategy-rachel-webber-magazine-2021-4">Playboy's NFT</a><a href="https://www.businessinsider.com/advertisers-rate-nbcuniversals-streaming-service-peacock-one-year-in-2021-4"></a><h2><keyword id="6413152" type="PERSON" weightage="60" keywordseo="peacock">Peacock</keyword>'s big test</h2>Claire Atkinson took the temperature on Comcast's streaming venture Peacock, which is facing more competition for viewers and advertisers as it enters year two.Peacock is key to NBCUniversal's effort to keep TV dollars as viewers shift online - and to Comcast's plan to grow broadband customers by offering them a freebie.From Claire's story:<h3>Read the rest here: <a href="https://www.businessinsider.com/advertisers-rate-nbcuniversals-streaming-service-peacock-one-year-in-2021-4">Comcast's Peacock is facing a tough test as competition heats up and advertisers seek more viewer data</a></h3><h2><div type="image" title="Recess products" height="749" width="1000" msid="81942693" hostid="261"></div></h2><h2><keyword id="1236600" type="PERSON" weightage="60" keywordseo="recess">Recess</keyword> takes on <keyword id="54572" type="CITY" weightage="60" keywordseo="PepsiCo">PepsiCo</keyword></h2>Recess got its start making CBD beverages meant to help its buyers relax. Now it's betting on another calming ingredient, with magnesium-based beverages, Alex Bitter reports. It's a way for Recess to grow without waiting for the federal government to rule on CBD - and capitalize on the success of CPG giants like PepsiCo and Danone have had with similar products.CBD lacks regulation at the federal level, which effectively bans CBD brands from key national retailers. But while magnesium is recognized as safe, the science connecting it with reducing anxiety is less solid.<h3>Read the rest here: <a href="https://www.businessinsider.com/cbd-relaxation-beverage-recess-expanding-to-magnesium-challenging-pepsi-2021-4">Recess scored a hit with its millennial pastel-hued CBD seltzer. Now its CEO is challenging PepsiCo with a move into magnesium-infused 'relaxation beverages.'</a> </h3><h2><a href="https://www.businessinsider.com/playboy-launching-nfts-nifty-gateway-partnership-strategy-rachel-webber-magazine-2021-4"><div type="image" title="Former playboy model Esté Swanepoel holding an mosaic framed picture of the iconic bunny at the Playboy publishing gala event" height="683" width="910" msid="81942694" hostid="261"></div></a></h2><h2><keyword id="21880" type="PERSON" weightage="60" keywordseo="Playboy">Playboy</keyword>'s NFT</h2>Playboy is joining the growing list of <a href="https://variety.com/vip-video/nft-craze-catching-on-in-media-industry/">media organizations</a> launching non-fungible tokens, in this case to showcase its art and photography archive and to release original works from artists, Kari McMahon reports.If that doesn't jibe with your image of Playboy, consider Playboy's roots. "In the first issue of Playboy magazine, there's this line, 'Picasso, jazz, Nietzsche, and sex, those are the four ideal conversation topics for any sophisticated person'," said Rachel Webber, Playboy's chief brand officer and president of corporate strategy. "Right in the core of Playboy's DNA is appreciation for art and for great artists."Other things you might not know about the more woke Playboy today: It's no longer associated with the Hefners. The magazine <a href="https://www.nytimes.com/2019/08/02/business/woke-playboy-millennials.html?">said</a> in 2019 it would predominantly hire women photographers to shoot Playmates and that it would have intimacy coordinators on set.<h3>Read the rest here: <a href="https://www.businessinsider.com/playboy-launching-nfts-nifty-gateway-partnership-strategy-rachel-webber-magazine-2021-4">Playboy is the latest company to hop on the NFT trend. The company's chief brand officer explains why the digital asset revolution is 'an enormous business opportunity'.</a> </h3>Other stories we're reading:<ul><li><a href="https://www.wsj.com/articles/amazon-surpasses-10-of-u-s-digital-ad-market-share-11617703200?mod=djemalertNEWS">Amazon surpasses 10% of US digital ad market share</a> (WSJ)</li><li><a href="https://digiday.com/future-of-tv/roku-recommends/">Roku plans to debut Roku Recommends, brand-sponsored videos to promote programming across its connected TV platform</a> (Digiday)</li><li><a href="https://www.businessinsider.com/ketchup-shortage-price-increase-us-restaurants-fast-food-delivery-heinz-2021-4">A ketchup shortage in the US is causing prices to spike - and it could get harder to find ketchup packets at restaurants</a> (Insider)</li><li><a href="https://www.ft.com/content/dd724838-d37f-4894-b986-e4675482161e">Snap looked at ways of circumventing Apple's new privacy rules</a> (FT)</li><li><a href="https://www.businessinsider.com/sendbird-messaging-startup-raises-100-million-1-billion-valuation-2021-4">We got an exclusive look at the pitch deck messaging startup Sendbird used to raise $100 million and become a unicorn</a> (Insider)</li></ul>Thanks for reading, and see you next week. And remember you can sign up for this newsletter <a href="http://newsletter.businessinsider.com/join/4np/insider-advertising">here</a>.- Lucia

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Rock star Ozzy Osbourne will launch an NFT collection called 'CryptoBatz,' a nod to when he infamously bit the head off a bat in 1982

Carla Mozée

Meet the millennial crypto-art entrepreneurs backed by Gary Vaynerchuk who want to dominate the 'wild, wild west' of the NFT market

Hillary Hoffower

Comcast's Peacock faces new tests from advertisers, viewers

Lucia Moses

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