NFTs are unique tokens that serve as proof of ownership of a digital asset, and they have become incredibly popular in recent months.
Snoop Dogg, Paris Hilton, Method Man are among the many celebrities who have begun creating and selling NFTs, or non-refundable tokens.
John Lennon's son Julian Lennon has decided to join them -- and he is turning items from his own collection of Beatles memorabilia into NFTs.
Among the items Julian has turned into NFTs are three guitars that belonged to his father and the coat he wore the Magical Mystery tour film, as reported by Yahoo Finance.
Notes written by Paul McCartney for the hit song Hey Jude -- which was originally titled Hey Jules and dedicated to Julian -- are guaranteed to attract interest.
In fact, experts believe they could reach a price of $60,000.
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Julian told Yahoo Finance that he thought this was the best way to share the memorabilia with Beatles' fans.
"I don't think I could part with any of them, because, you know, I was never really handed down much of [the Beatles memorabilia] at all. So I've been collecting this not only for myself, but you know, I do hope to have a family one day, and I would like to be able to pass these items on for generations to come," he said.
Sean Lennon's Blessing
Julian explained that it was actually his brother Sean that introduced him to the concept of NFTs.
"I've been aware of it for some time and believe it or not, it was actually my brother Sean that really got me to understand a little more about this universe, and I’m grateful for that," he said.
Thee 58-year-old musician and philanthropist noted that his NFTs are accompanied by audio clips in which he shares stories.
"Doing NFTs like this was one way of sharing those stories with fans and also giving them a little insight into each item, because I decided to write a little something about my connection with the items," he said.
Former BBC correspondent Rory Cellan-Jones wrote on Twitter that Beatles fans are being "duped" by Julian Lennon, and many agreed.
"I think of NFTs as this generation’s digital Beanie Babies. Beatles memorabilia has its own attraction to many - so these might have some lasting value. But NFTs are only worth what people are willing to pay, and eventually the market will collapse," one person wrote.
"When are people going to snap out of this mass hallucination? They’re literally buying thin air," another one added.