Lindsay Lohan releases NFT single 'Lullaby' with the song currently on auction

It is being sold online and bids are currently at $26,000

Lindsay Lohan and her father Michael Lohan no longer talk to each other. Getty Images 

Lindsay Lohan has released a new single called Lullaby.

A collaboration with DJ Manuel Riva, the new music, however, is far from traditional as it is being released as a non-fungible token or NFT.

"I am about to launch my next single, Lullaby, as an NFT in a couple of hours on fansforever.io," the American singer and actress announced on Instagram, with a teaser to the new music. "This is a genesis piece and history in the making!"

In her post, Lohan tagged Justin Sun, founder of the Tron Foundation and chief executive of BitTorrent.

The song is currently being auctioned and, at the time of writing, still has four days and 14 hours remaining for people to bid. It has hit an auction price of 400,700 TRX (Tron), which currently converts to $25,624. The single started with a reserve price of 100,000 TRX.

Lohan's release is the only live auction currently on fansforever.io, a website that describes itself as a "decentralised social marketplace that connects creators and their fans through NFTs".

"I have been recording music for a long time now. I feel a calmness when I go to the studio and it is a sort of solitude. A comfort zone. This song really means something to me because we all grow up with lullabies and I wanted to create one of my own. My voice to your ears ... Lullaby," Lohan says of her release.

The fansforever.io blurb for the single reads: "Lullaby is an exclusive collaboration between Lindsay Lohan and DJ Manuel Riva and is here to send you on a trip down memory lane and experience nostalgia all over again as you glance through the visuals, be prepared to get lost in it for a never-before experience.

"Lindsay has fully invested herself in dropping this song as a NFT with a sole objective of delivering a message of empowerment, a signal out to the world to embrace the beauty that nature has blessed us all uniquely with."

It is not clear if Lullaby will be released on streaming platforms as well as being dropped as an NFT.

What is an NFT?

News of NFTs has been popping up all over the internet in recent weeks, with digital houses going for $500,000 and Gucci dropping trainers for less than $10. But what actually are they?

A non-fungible token, or NFT, represents a unique digital item, they are typically creative work such as art, audio, videos or items in video games. The one-of-a-kind digital assets can be bought or sold on blockchain.