Celebrated musician Arden Jones is planning to pay his fans parking tickets using NFTs. The ‘Parallel Parking’ superstar has partnered with Sound.xyz, an emerging music NFT platform, to launch his brand of digital collectibles based on the hit single. The resulting proceeds will be used to pay parking tickets for fans and strangers around Los Angeles.
Parallel Parking is the hit single that launched Jones to prominence, allowing him to sign with Atlantic Records. It has amassed over 25 million streams on Spotify and Apple Music, and according to Jones, the new initiative, dubbed the “Parallel Parking Fund,” is a way to commemorate the song’s second anniversary.
In total, there are 100 NFTs based on this project, with each going for 0.05 ETH, approximately $80 as of press time. All the funds will go into a community wallet and, in turn, used to pay as many parking tickets as possible by random selection. That said, fans can submit their unpaid parking tickets to the project using Twitter or Instagram.
Why Arden Jones Choose To Pay His Fans Parking Tickets Using NFTs
Arden Jones notes that “A lot of parking tickets are given out unnecessarily and excessively.” Also feeling that “so many ‘No Parking’ signs in L.A. are purposefully confusing and are set up to make money.”
Parking fines in Los Angeles have skyrocketed in the past few years as city officials sought to increase revenue. Today, a parking ticket will set you back about $65. Thus, based on the number of NFTs on sale, at least 100 lucky fans will get their tickets paid for by this initiative.
So far, only 18 Parallel Parking NFTs have been sold, raising about 0.9 ETH worth about $1,440. According to Cooper Turley, one of the collectors of the NFTs, this is an exciting initiative, which bonds well with music fans and the Web3 community.
Source NFT Plazas