An analyst has said that Prince Harry and Meghan Markle might make use of their international reputation to quickly earn more than £8 million ($10 million).
The expert also said that this might make up for the fact that their £20 million Spotify contract fell through.
Harry was reportedly “panicking” earlier this summer about his finances and his wife’s future in the US.
According to Andras Kristof of Galaxis, the Duke and Duchess of Sussex may “potentially generate millions” by creating non-fungible tokens (NFTs) representing both themselves personally and as Brand Sussex.
NFTs, which are recorded on a blockchain, are special digital identifiers. Like real artwork and sports trading cards, ownership is tracked and can be sold.
According to Kristof, if Harry and Meghan handle every situation perfectly, “the world could be their oyster.”
He claimed: “Anyone with a community or following could create their own digital membership cards (NFTs), and provide value to their community, potentially generating millions in the process
“It all depends on the size of their fame, fanbase, followers, buyer interest, the tangible value they offer, marketing, and other external factors.”
The expert thinks that if the Sussexes produced NFTs of themselves separately or together, they would become a “massive brand.”
“Their brand could earn them £8.2million ($ 10 million) overnight in my opinion,” he added.
According to Galaxis, a platform that has produced more than 180,000 NFTs since 2021, including for celebrities like Mike Tyson, Lamelo Ball, and Val Kilmer, making the NFTs could be “very easy” for anyone, including the royal couple.
The time it would take to earn the money, the expert continued, would depend on how “complex the strategy and planning is.”
He said the length of time it would take to earn the money would depend on how intricate the strategy and planning were.
According to Kristof, speculators can quickly cash in on rare NFTs for huge sums.
He explained: “Like with any collectibles, you get a lot of speculative investors hoping they can profit from getting in early.
“I think that would be even more the case with Harry and Meghan.
“There are constant rumors about them and owning a brand Sussex NFT could potentially be worth a fortune in a few years – especially if they split up or if they reentered the Royal Family.
“That is not to say that this will happen, but speculative investors will be hedging their bets on something changing in the future which would make their NFT no longer available.
“This is why I believe they’d be snapped up the second they went on the market.”
A recent analysis revealed that the great majority of NFTs produced are now worthless.
The study surveyed 73,000 NFT collections and discovered that 95% of the digital collectibles are worthless, leading to the collapse of the formerly multi-billion dollar sector.
In addition, it asserted that over 79 percent of NFT collections are still unsold, demonstrating that demand exceeds supply.
However, it implied that NFTs might resurface in the future and find utility in the real world, such as in gaming, real estate, and digital identification.