The Hollywood Sign Will Be Auctioned as an NFT

Los Angeles‘ iconic Hollywood Sign will soon be offered up as a digital token.

Sugar23 — the creative platform launched by Oscar-winning manager-producer Michael Sugar — will auction off a digital art NFT of the world-renowned landmark in partnership with the Hollywood Chamber of Commerce.

The upcoming project is still in the early stages of development, according to The Hollywood Reporter, and the team is still in the process of selecting an artist or filmmaker to create the non-fungible token.

“When we thought about what could be the most iconic opportunity possible, we naturally thought of the most iconic image in the world – the Hollywood sign – and are thrilled to announce our partnership with the Hollywood Chamber of Commerce,” Sugar said in a statement. “We see this as a unique opportunity to do something good for the city, by the city, and with the city of Los Angeles, and what better way to give back than by raising money for those who need it most.”

Proceeds from the sale will directly benefit the Chamber’s humanitarian initiatives, which include organizations serving education, diversity, inclusion and homeless populations within its Hollywood Chamber Community Foundation, according to The Hollywood Reporter. Sugar23’s goal is to host a sale during the summer, but specific dates have yet to be announced.

Gucci is also paying homage to the film capital with a collection of “Hollywood Forever” sunglasses. Indulge in Alessandro Michele’s latest eyewear collection, filled with vintage glamour.