Lindsay Lohan gives series of steps to people looking to cash in on NFT market

Lindsay Lohan gave fans a series of steps to navigate the NFT (non-fungible token) market in a new chat with Interview magazine published Tuesday.

The 34-year-old actress and singer, in a feature titled Getting Filthy Rich on NFTs, offered up words of advice after selling the NFT for her newest song, titled Lullaby for $85,000. (NFTs enable purchasers to own a digital property via a token on a blockchain.)

The Mean Girls star said the first two steps in investing in blockchain technology are to choose and mint your NFTs.

‘I believe that what makes a great NFT is creating something that tells a story through a new medium,’ she wrote. ‘By using technology, I can now elevate my life stories and tell them in ways that are more authentic to me.’

She added, ‘Currently, I’m working with the right platforms to mint my works so that I can focus on creating my NFTs. Maybe in the future I might mint my own, but for now I’m happy doing it this way. Ideally, you can search a marketplace such as Rarible, which allows creators to have open access to launch their piece of art.’

Lohan advised her fans to download Metamask, a program she described as ‘a more secure way to hold your NFTs and your coins or tokens,’ noting that an extra USB drive will bring increased extra security.

The Canyons actress said that users will ‘need a Metamask wallet with $100 worth of ETH and your art in the format of a JPEG, a GIF, or an MP4.’

The Sick Note star said that the next step in the process is creating a profile for NFTs.

‘Simply go to Rarible.com and connect your Metamask Wallet and follow the steps on the website to create your profile,’ she said. ‘Click on “Create,” and follow the steps to upload your art as an NFT. Approve the transaction using your Metamask, and within minutes your NFT will be ready for the world to explore and buy.’

The Confessions of a Teenage Drama Queen actress said that the ways to reap the financial benefits comes in various ways, noting that she feels ‘the best way to get discovered is to build a community from day one involving your creative persona.’

Adding that ‘access to a stronger creator-and-buyer relationship is key,’ she said she feels successful NFT artists must ‘build a community’ to thrive.

‘Once you have one, you will have selling power, and then you can use what you make to empower other smaller artists, thereby keeping the cycle going,’ Lohan said. ‘Got it? Good luck.’

In March, Lohan told Forbes she thinks NFTs ‘will make a major impact in entertainment industry’ moving forward.

‘It’s only a matter of time till everyone in Hollywood and beyond gets involved,’ Lohan said. ‘Maybe we will see the tokenization of movies, and of 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.’