Every day, the NFT world grows in popularity, notably among A-List celebrities in the United States. Reese Witherspoon, a well-known actress, is the most recent addition to this club. She’s been promoting NFT collections and pushing forward into the metaverse’s new virtual frontier.
The actress-turned-entrepreneur and her Hello Sunshine media company have been promoting female-led NFT collections, such as the World of Women, and the future digital world on Twitter. She commented at one point, “In the (near) future, every person will have a parallel digital identity. Avatars, crypto wallets, digital goods will be the norm. Are you planning for this?”
Her optimistic outlook on the metaverse, where people engage as digital avatars of themselves, coincides with the rise in popularity of platforms like Decentraland and the Sandbox. Land sales are brisk in these metaverses, and virtual events such as Fashion Week are held there. Witherspoon’s acceptance of non-fungible tokens, or digital collectibles generated on the blockchain, links into the metaverse, as NFTs are thought to be the key to unlocking the virtual world by experts.
NFTs from the Flower Girls and World of Women collections have appeared in her profile images. Guy Oseary, the music entrepreneur who represents the immensely popular Bored Apes Yacht Club, was recently signed by the latter female-led collection to market the project across different media such as movies and video games.
Other women-led NFT collections that Witherspoon has championed include the 1,989 Sisters and Boss Beauties. “You’d be hard-pressed to find a more prominent supporter of female NFT artists than @reeseW,” remarked the artist behind one of them in a tweet thanking the actress and her company.
She’s even started dabbling in cryptocurrencies, which are digital assets underpinned by the same technology that powers NFTs and the metaverse. She remarked on February 4 in a tweet, “Hey, #cryptotwitter, I’d like to know which cryptocurrencies are the most long-term. I’m attempting to learn more!”
Witherspoon has joined the crypto frenzy, which peaked over $3 trillion last year but has since slowed. However, it exceeds $2 trillion, and the young NFT business grew to $41 billion in sales in 2021, approaching the scale of the traditional art market.
Meanwhile, Witherspoon’s media company is going through a transformation. According to Insider, she sold Hello Sunshine, which produced blockbuster shows like HBO’s “Big Little Lies,” to a Blackstone-backed media business for $900 million last year.