The Story Behind Lindsay Lohan's NFTs

Salomon Kisters

May 10, 2023

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Lindsay Lohan is certainly not the first personality one thinks of when the NFT topic comes up. However, interestingly, the American actress and music artist has been a part of the cryptocurrency and NFT headlines for a few years now.

The NFT industry had its first major breakthrough on March 15th, 2021, when Beeple sold his artwork, Everydays: The First 5000 Days, for $69 million at Christie’s. The sale put him among the world’s three wealthiest living artists in the world.

Since then, we have seen several corporations and celebrities entering this newly emerging marketplace over the last few years. Among the names discussed the most, Lindsay Lohan has been mentioned quite a few times on different occasions.

From simply praising blockchain technology and cryptocurrencies as the future of fintech on her Twitter account to launching her own NFT projects to getting charged by SEC, Lohan has had quite an experience with NFT technology.

This article will cover Lohan’s journey with NFTs and discuss several of her NFT projects along the way.

Lindsay Lohan’s Early Interest in Crypto

Even though 2000’s Disney star – Lindsay Lohan – did not have any direct involvement in the blockchain industry until 2021, she has been drawn towards cryptocurrencies since as early as 2018.

In 2018, the Hollywood actress tweeted about Bitcoin and Ethereum, praising both virtual currencies for their decentralized nature. She talked about this technology as the future of fintech as well as the entertainment industry on multiple occasions while expressing her views.

It’s important to note that Bitcoin was not as popular or as widely adopted in 2018 as it is today.

Rather, it was a tough year for cryptocurrency, as the entire market had gone through a long-term bearish phase, with Bitcoin losing almost 80% of its original value.

Lohan’s First NFT Project

Following the NFT market’s explosion in late 2020 and early 2021, Lindsay Lohan decided to launch her first NFT project. On February 10th, 2021, the actress tweeted her opinion on Bitcoin as “the future, happening now” and announced the launch of her first on-to-one NFT.

The digital token, named Lindsay “Lightning” Lohan, was minted and launched through Rarible – the second-biggest NFT marketplace by trading volume. The NFT in question is a portrait of the actress with “Lightning” written on her earring. She also announced to donate proceeds from the non-fungible token to a charity that accepts Bitcoin.

The artwork was initially bought by Loopify for 10 Wrapped Ethereum (worth $17,360 at that time). However, only an hour later, the original buyer sold it to a user named “Mr. Lohan” for 33 Ethereum ($57,290). A percentage of all subsequent resales goes to its creator, i.e., Lindsay Lohan, thanks to the royalty feature inherent in NFT artworks.

Lohan and the Daft Punk NFT

A couple of weeks after the successful launch of her first NFT: Lindsay “Lightning” Lohan, the music artist listed a Daft Punk NFT on Rarible for $15,000. The NFT is an art piece of the electronic duo in their robot suit.

However, the NFT wasn’t minted by Lohan herself. Instead, she received it in her bio from another account, named “Daft Punk”. The marketplace revealed that this account wasn’t an official Daft Punk profile, but a fan account.

Furthermore, Lohan wasn’t the only one to receive such NFT artwork in her NFT wallet. “Daft Punk” also sent such artwork tokens to other significant personalities in the space, including Soulja Boy, Tyga, Beeple, and Mark Cuban. This was probably an attempt by the user to boost sales by attracting other buyers.

Nonetheless, Lindsay Lohan was the only one among the giftees to list the digital token for sale.

Launching “Lullaby” as an NFT

With her initial success in the NFT market, Lindsay Lohan released her second NFT project during the last week of March 2021. This time, the actress and music artist collaborated with the crypto entrepreneur Justin Sun – the founder of the Tron blockchain. Lohan tweeted a teaser of her song “Lullaby” on March 27, saying the track will be released as an NFT on FansForever – a Tron-backed digital token marketplace.

The artist revealed that this catchy 3-minute dance song is her first song since “Back to Me”, which she released in April 2020. Before this project, Lohan had two Billboard Top 20 albums under her name. The first one was her debut album, “Speak”, which reached Billboard’s No. 4 position in 2004. The second album, “A Little More Personal”, ranked No. 20 the following year.

The Lullaby NFT ended up being sold for 500,000 TRX, worth about $32,000 at the time of the launch. Interestingly, Justin Sun was one of the bidders for the digital token. Sun tweeted about his bid of 300,000 TRX four days before the auction ended, challenging others to beat him. Eventually, the song was sold to a seller with a final bid of 500,000 TRX.

Lohan’s Experiential NFTs

The most recent NFTs launched by Lindsay Lohan are unique and the most interesting project she has launched so far. In January 2022, the Hollywood star announced the launch of a series of experiential NFTs. Experiential NFTs are a novel concept in the space of digital assets, gaining more traction among celebrities and influencers.

Holders of these NFTs earn a chance to meet and spend time with their favorite celebrities in real life. As a result, these NFTs allow stars and their fans to interact in a way that has never been possible before. Other notable celebrities to have launched experiential NFTs include Jake Busey, Riya Sen, Jubin Natiyal, and Richard Karn. However, Lindsay Lohan has been the biggest star to join the trend so far.

Lohan launched these NFTs on Superfandom, a subsidiary of Rare Sense – an NFT and metaverse company built around monetizing experience and influence. It is built on top of the Stacks blockchain, an open-source layer-one protocol that stores its transaction on Bitcoin. Superfandom is designed specifically for celebrities and influencers who wish to monetize their fandom and following.

Why Does Lindsay Lohan Believe in NFTs?

There are a couple of reasons for Lindsay Lohan’s NFT foray over the past few years. The Hollywood star and music artist has discussed them on several occasions while talking about the future of Hollywood and the entertainment industry.

During an interview, Lohan predicted, “It’s only a matter of time till everyone in Hollywood and beyond gets involved. Maybe we will see the tokenization of movies and how artists are paid for their films, music, and art. I see a future where crypto, NFTs, and blockchain will be the norm rather than the exception.”

NFTs and digital tokens benefit independent and developing artists in two significant ways. Firstly, they allow creators to own all the rights over their work. Secondly, the NFT marketplace provides incredible opportunities for artists that are starting out to reach a larger and wider audience. “Tokenization through NFTs can help content creators and musicians actually own the property rights for what they create and allow them to profit accordingly,” said Lohan. These factors enable artists and filmmakers to not rely on production companies and work independently.

SEC Charging Lindsay Lohan

The last time Lohan’s name was mentioned along with cryptocurrencies and NFTs was just a few weeks ago when the SEC (Security and Exchange Commission) charged her along with seven other celebrities for illegal promotion of TRX (Tronix) and BTT (BitTorrent).

The SEC filed a complaint on March 22, 2023, in the US District Court for the Southern District of New York against eight celebrities, claiming that they illegally promoted Justin Sun’s cryptocurrencies without disclosing that they were compensated for doing so. Apart from Lohan, other celebrities charged include Jake Paul, Soulja Boy, Austin Mahone, Kendra Lust, and Lil Yachty. Six of these celebrities agreed to collectively pay a fine of over $400,000 to settle charges.

Moreover, the SEC charged Justin Sun and three of his companies for the unregulated sale of TRX and BTT. Sun has also been alleged to have carried out manipulative trading to keep the TRX price afloat and maintain investor interest.

Final thoughts

Lindsay Lohan is one of the earliest pop stars to have entered the NFT space. She played a significant role in promoting the technology and showing its different use cases in the entertainment industry.

However, the NFT community hasn’t heard much from her since the entire market went into a bear trend, losing more than 80% in value.

Nonetheless, it’s safe to say that crypto enthusiasts and NFT collectors will be looking out for her next project, whenever it happens to be.

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