Nfts
$1 to access Wu-Tang Clan’s “Once Upon a Time in Shaolin”
The infamous Wu-Tang Clan album that some haven’t even heard, Once Upon a Time in Shaolin, previously owned by disgraced “pharmaceutical brother” Martin Shkreli, has suddenly resurfaced. Now, fans of the Staten Island band can listen to the album by purchasing an NFT (non-fungible token) of the coveted project.
According to Forbes, unlike the previous high prices of NFTs, hip-hop fans can purchase an NFT of the Wu-Tang Clan album for $1. This was set up by PleasrDAO, the company that purchased the album that belonged to Shkreli but was seized by the government after his arrest for securities fraud. Initially, Shkreli purchased the album for $2 million at an auction in 2015. After he was arrested and subsequently convicted in 2017, the U.S. government seized his assets, including Once Upon a Time in Shaolin.
When the project was
initially purchased, there was an alleged contract that prevented the album from being released to the public for 88 years. Due to its purchase price, it has been presented as the most expensive album in the world.
In 2021, PleasrDAO reportedly purchased the album for $4 million from the government. They found a way to accelerate its release date, scheduled for 2103. Now that it is in the hands of PleasrDAO, they have made arrangements that stipulate that for each sale of an NFT, the waiting period of 88 years for the public release of Once Upon a Time in Shaolin will be reduced by 88 seconds.
Fans can therefore access the album for $1 and listen to a five-minute excerpt. They stated that cryptocurrency is not necessary to purchase the NFT.
“Mass replication has fundamentally changed our perception of recorded music. »
RZA and producer Cilvaringz said in a press release. “The shift to digital universality and the disappearance of physical media have disrupted our emotional connection to music as a work of art and personal treasure. »
Proceeds from NFT sales will be donated to the Wu-Tang Clan and Cilvaringz, who, along with RZA, produced the album.
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