NFTs
Wu-Tang Clan album is being sold as NFTs
Samples from Wu-Tang Clan’s single album ‘Once Upon a Time in Shaolin’ are now available as an NFT.
Each NFT purchased speeds up album release by 88 seconds. The album is currently 78 years away from release, according to https://www.thealbum.com
Current album owners PleasrDAO purchased the album for $4 million aftercumbag Martin Shkreli he was arrested and his assets sold. Pharmaceutical criminal made millions by inflating the price of a life-saving medicine for the terminally ill. When the Wu-Tang Clan auctioned off the album, he was the buyer. The album was one of the assets seized and sold when he was arrested.
PleasrDAO has recovered 10x its money so far from NFT sales.
In fact, the first public showing of a portion of the testament album is at MONA (Museum of Old and New Art) in Hobart, Tasmania, next week.
Ten years ago, the visionary Wu-Tang Clan released an album unlike any other in the world. Once Upon a Time in Shaolin was recorded in secret over six years and, as a protest against the devaluation of music in the digital age, only one physical copy of the album was created. Once Upon a Time in Shaolin became the most expensive musical work ever sold – twice.
This album is a nostalgic journey through the chambers of a glorious era. Its announcement on March 26, 2014 as a unique work of art captivated the world’s attention and with the 88-year embargo on commercialization solidified its affirmation and place in music history. Never before has a music album existed in this form. The album is housed in a handmade silver and nickel box, alongside a 174-page leather-bound book with lyrics, anecdotes and behind-the-scenes photos. The intention was clear: to inspire and intensify urgent debates about the future of music, both economically and about how our generation would experience it. But this came at a cost.
In 2015, the album sold at auction for a staggering $2 million to Martin Shkreli, breaking records and making headlines around the world. Following Shkreli’s conviction for securities fraud, the US government seized the album, and in 2021 it was acquired by the art collective Pleasr for $4 million. The Wu-Tang Clan made a radical choice – in a digital world, the only way to make an album valuable was to make it exclusive. This bold plan worked, but at the cost of releasing the music to fans. With this acquisition, Pleasr continues the album’s legacy of redefining the meaning of ownership and value of music in a digital world.
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