Color NFTs Are Here and They’re Just As Mortifying As They Sound

Posted inDesign News

In the NFT/metaverse/cryptocurrency/Web3 era in which we all currently dwell, someone somewhere was eventually going to find a way to sell colors. And, folks, that someone is the new NFT marketplace, The Color Museum.

The experimental blockchain collective helmed by 31-year-old New Yorker and self-described “bonafide Bitcoin OG,” Omar Farooq, has put forth a polarizing new concept with the launch of their presale waitlist. Simply by providing your email address, you too can join a queue of color-owning hopefuls, banking on getting their grubby little hands on the rights to a specific color. As of now, The Color Museum site shows that nearly 9,000 people have joined the presale waitlist.

Those who ultimately buy a color will earn what can be understood as royalties each time an NFT that uses that color is sold through The Color Museum or on other NFT marketplaces. The exact amount someone makes from an NFT sold with their color depends on the cost of the NFT itself and how much of their color an artist used within it. To start, The Color Museum will be offering the rights to 10,000 colors selected from the 16.7 million total hues within the sRGB (Standard Red Green Blue).

Once a color gets purchased through The Color Museum, the owner will name it and is encouraged to write a description about it, even an essay if the mood strikes. “Please, no profanity. Children like colors too,” The Color Museum writes on their site in a cringe attempt at humor.

While the presale waitlist is live, The Color Museum has already opened minting for collectors willing to pay a “priority price.” There are already 40 colors spoken for by these eager minters, which are viewable in The Color Museum’s Gallery.

“We’re going to be turning colors into money,” Farooq recently told Motherboard, we’re assuming while tapping his fingers together menacingly like Mr. Burns from The Simpsons

Hey, Stuart Semple? Your move.