LFT

LFT (Lupe Fungible Token) is a non-fungible token (NFT) by American rapper Lupe Fiasco, which is a digital asset that works similar to cryptocurrency in the way that they use blockchain networks for verification of ownership. LFTs first launched on February 10, 2021. The first "generation," LFT Pass, dropped on April 12, 2021, on Origin. The public mint sale was 0.2 ETH + Gas, their intention "designed to give a variety of utilities, including free concert tickets, generative profile pic art of The Cool, Merch and Vinyl."

Regarding environmental issues, the official response on the website was, "LFTs will be using the ERC1155 token standard. With ERC1155, we can execute batch transfers of multiple token types and to multiple parties. By performing fewer transfers, we generate less environmental footprint while minimizing gas fees."

Synopsis[]

LFT is not the usual VIP fan pass. Holders will enjoy unique, ever-evolving utilities centered around Lupe Fiasco and his artistry.

These features will be built via collaboration between the community and Lupe himself. Organic, authentic and outside the ordinary. The only way we'd ever do it.

To kick off LFT, based on community feedback, we will reveal untold stories from The Cool, which inspire our inaugurating NFT design.

To find out more about LFT's magic loot bag of utilities, join our server where hardcore Lupe, music and art fans lead the conversation and direction of the project.

Generations[]

The very first collection had 500 LFT Passes that gave owners access to free concert tickets, digital content, and limited edition merch. It included behind-the-scenes of The Cool, which was inspiration for the NFT design. Holders were also the first group to receive the vinyl copy of his upcoming album, as well as partake in the "meta-narrative" of it.^[1] Those that were early in pre-sale had the ability to earn badges and claim NFTs during raffle airdrops hosted on his Discord.^[2]

Fiasco's first virtual performance was held on April 15, 2021, where he declared over social media, "I'm going to be doing the whole album live on Futurestream..."^[3]^[4]

The second generation, "The Cool Collection by LFT," was available to all previous LFT Pass owners, which granted avatars unique to each owner in celebration of his sophomore studio album, The Cool. Fiasco collaborated with digital artist Nicolas Lesaffre to design characters from the album.

Background[]

Fiasco discussed the use of blockchains in 2018 with Business Insider. He believed that a blockchain would "revolutionize music," where it solves the issues of piracy and devaluation on other platforms, like Spotify. He added, "And that was the reason we can charge .00000 nothing for a song, and completely devalue music. But then you have blockchain technology coming around, where you say, 'Ah, now we're able to kind of reverse that process,' by implementing kind of a blockchain strategy when it comes to licensing music. So I think that aspect of is super interesting on a professional side, a personal side, intellectually, I think it's also interesting."^[5]

In a statement given by the company Origin in March 2021, they said, "We are thrilled to announce the launch of Lupe Fiasco's first-ever NFT drop on Origin's industry-leading NFT Launchpad. [...] Origin is proud to follow up our record-breaking NFT auction with another direct-to-fan experience in collaboration with a true artistic visionary who has deep roots in crypto. Lupe Fiasco will be launching five open edition NFTs. All NFT holders will be given admission to a live performance of Lupe Fiasco's Food & Liquor concert, hosted on Futurestream.tv, the first live stream platform to integrate NFTs. This will be followed by a live meet and greet for concert attendees. NFT holders will also have exclusive access to limited edition physical merchandise and premium digital content."^[6]

On April 15, 2021, Fiasco performed an exclusive virtual show on Futurestream in celebration of the 15th anniversary of Lupe Fiasco's Food & Liquor.^[7]