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Naked NFTs: Madonna’s sexually explicit tokens cause stir, raise money

By Monte Stewart


Updated

Madonna
Sales of Madonna's sexually explicit NFTs will raise money for non-profit groups. - Photo: Shutterstock

Madonna’s new NFTs depicting her fully nude body giving birth to trees, butterflies, and a centipede-like robot have caused a stir on Twitter.

Several critics lambasted the pop star for posing for three sexually explicit NFTs and other images posted on Twitter. The graphics do not show Madonna herself, but rather 3D images of her.

True to form, the Material Girl was not making any apologies.

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No apologies

“I’m doing what women have been doing since the beginning of time, which is giving birth,” Madonna, 63, said in a chat posted on her Instagram account on Wednesday.

“But on a more existential level, I’m giving birth to art and creativity and we would be lost without both.”

Madonna collaborated on the project with artist Beeple, whose real name is Mike Winkelmann. According to Madonna, the NFTs project has been a year in the making.

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Not out to proft

But Madonna did not get naked for personal profit.

Proceeds from the NFT sales will go to three non-profit groups: Voices of Children Foundation, which helps kids affected by Russia’s attack on Ukraine; the City of Joy, a group that aids women who have survived violence in the Eastern Democratic Republic of Congo; and Black Mamas Bail Out, an organization in the US South that helps women (including transgendered and non-binary people) affected by their own or their loved ones’ incarceration.

Bids close Friday

Alex BenfieldWeiss Ratings analyst Alex Benfield says altcoins need a boost from bitcoin (Photo courtesy of Alex Benfield)

The NFTs are being auctioned on the SuperRare online marketplace and as of Thursday afternoon in North America, had drawn high bids at almost $30,000 apiece. The Mother of Technology NFT – the one showing centipede-like robots coming out of Madonna’s vagina – drew the top bid of $29,856.

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Meanwhile, the Mother of Nature, which depicts a large tree emerging from between her legs, had a top bid of $28,938, while the Mother of Evolution token depicting the birth of butterflies prompted a top offer of $21,221.

Bids close on Friday at 6 p.m. Eastern Daylight Time (22:00 UTC).

 

Altcoins get hammered

The auction comes as several altcoins – digital currencies other than bitcoin (BTC) – have been hammered this week in conjunction with stock market and macroeconomic declines.

Bitcoin will need to exhibit a sustained rally before altcoins can get out of the doldrums, Weiss Ratings analyst Alex Benfield told Capital.com this week.

LUNA has been among the hardest hit, losing almost all of its value, while Avalanche (AVAX) and Solana (SOL) have also suffered beatings.

Wrote one critic on Twitter: "when Madonna gets into the NFT business, you can confirm it is dead.”

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The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
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