After acquiring rare Wu-Tang Clan album for $4 million, NFT Collective PleasrDAO is selling access to it for $1

Wu-Tang Clan’s ‘Once Upon a Time in Shaolin’ Could Get an Earlier Release Date Thanks to a Non-Fungible Token (NFT) PleasrDAO collective.

In 2015, the legendary Hip-Hop group auctioned off only one physical copy of their seventh studio album, and former “pharmaceutical brother” Martin Shkreli reportedly bought it for $2 million, according to The New York Times. PleasrDAO then acquired the album for $4 million in 2021 from the U.S. government after Shkreli was convicted of securities fraud.

Previously, Wu-Tang Clan’s sales contract with Shkreli stipulated that “Once Upon a Time in Shaolin” was prohibited from being released publicly until October 8, 2103, 88 years later. However, the album isn’t as inaccessible anymore. The New York Times reports that on June 13, PleasrDAO began giving listeners access to a five-minute sample of an encrypted digital version, an NFT, for $1 plus a fee. The collective said they were part of an experiment and asked the question: “Are people still enjoying music in the digital age?”

According to Pitchfork’s Matt Matkov, a representative for PleasrDAO, said: “This album sale isn’t just about music; it’s about redefining how we think about music ownership and fan collaboration in the digital age.

The New York Times states that every dollar received by the online collective is equivalent to 88 seconds of the album’s original release date in 2103, shortening the time until its release. Additionally, the album product will be distributed among Wu-Tang Clan members and the album’s producers, including founding member RZA and Cilvaringz.

“The most expensive album in the world is available for $1,” PleasrDAO shared in an X post. “Come into the room and get a copy – 2103 will be here faster than you think.”

The Museum of Old and New Art in Hobart, Tasmania is hosting private listenings of the album from June 15-24. Those who obtained free tickets to the listening sessions can hear 31 tracks from “Once Upon a Time in Shaolin.” by The New York Times.

Amid this announcement, PleasrDAO is also suing Shkreli for breach the Wu-Tang Clan album sales contract by broadcasting it live. According to Cointelegraph, the collective claims that Shkreli’s actions may cause it “significant and irreparable monetary harm.”

“The album was purported to be the only existing copy of the disc, music, data and files, and packaging,” the complaint states, according to Cointelegraph. “It now appears, however, that Shkreli improperly retained copies of the data and files at the time of confiscation and that he published them and/or intended to make them public.”

In the current lawsuit, Shkreli claims that “PleasrDAO never voted on or discussed this dispute with members.”

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