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Playboy gets into the NFT business

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The erotic publication has announced its entrance into the blockchain space, collaborating with NFT platform Nifty Gateway to offer a variety of digital collectibles for longtime Playboy fans. While no information about what they’ll be offering has been announced, the company has stated that it will begin its journey into the market with two collaborations with artists Slimesunday and Blake Kathryn.

Our entry into NFT art builds on Playboy’s long history of providing a platform for artists and creative self-expression,” the company said on Twitter. “We are thrilled by all of the innovation and access the blockchain can bring, and a big piece of our work will be supporting artists as a collector and via upcoming grants. We’re here to learn, support the community and innovate together.”

Playboy expects to draw on its 67-year archive of classic photography and artwork, as well as partner with modern artists on new creations to market as crypto-collectibles. According to a press release, the brand now plans to give grants to “support emerging and underrepresented artists entering the NFT art community.”

Mike “Slimesunday” Parisella, a former Playboy print associate and an artist known for his erotic collage-style compositions, will present the first Playboy NFT drop. Slimesunday is already well-established in the emerging NFT community, having sold artwork on the SuperRare marketplace and even hosting an NFT-themed podcast.

Playboy has also confirmed a June release with 3D artist Blake Kathryn, another well-known NFT crypto artist, who will collaborate with the magazine on a Pride-themed project.

Playboy portrayed its move into the new space as a natural progression, considering that it has long paved the way for artists and authors to express themselves, citing Andy Warhol, Pablo Picasso, Keith Haring, and Salvador Dali as contributors to its flagship magazine.

According to the brand, Playboy’s archives “contain an immense wealth of original artwork, photography, cartoons, interviews, and multimedia ripe for exploration by digital audiences, art lovers and collectors.” In a note to clients, Canaccord analyst Austin Moldow wrote, “This should be just the initial step for PLBY in executing on a long-term, sustainable NFT strategy.”

They said “We believe the Nifty Gateway partnership is just the first step in a much longer-term NFT strategy to accelerate the company’s pace toward its five-year target. Over time, we expect PLBY’s NFT operation to be managed closer to the company’s growing owned & operated, direct-to-consumer portfolio.