by Cedric ‘BIG CED’ Thornton
June 17, 2024
Hip-hop fans can purchase an NFT of the Wu-Tang Clan album for just $1
The infamous Wu-Tang Clan album that some have not even heard, Once Upon a Time in Shaolin, which was previously owned by disgraced “pharma bro,” Martin Shkreli, has suddenly resurfaced. Now, fans of the Staten Island group can hear the album by purchasing an NFT (non-fungible token) of the sought-after project.
According to Forbes, unlike previous high prices of NFTs, hip-hop fans can purchase an NFT of the Wu-Tang Clan album for $1. This has been put in place by PleasrDAO, the company that bought the album that once belonged to Shkreli but was seized by the government after he was arrested for securities fraud. Initially, Shkreli bought the album for $2 million at an auction in 2015. After he was taken in and then convicted in 2017, the U.S. government seized his assets, which included Once Upon a Time in Shaolin.
When the project was initially bought, there was an alleged contract that restricted the album from being released to the public for 88 years. Because of the purchase price, it was billed as the world’s most expensive album.
In 2021, PleasrDAO allegedly bought the album for $4 million from the government. They have found a way to speed up its release date, which was planned for 2103. Now that it’s in the hands of PleasrDAO, they’ve made arrangements that stipulate that for every sale of an NFT, the 88-year waiting period for the public release of Once Upon a Time in Shaolin will be reduced by 88 seconds.
So fans can access the album for $1 and hear a five-minute sampler. They stated that cryptocurrency is not required to purchase the NFT.
The world’s most expensive album is available for $1.
Enter the chamber and secure a copy – 2103 will come faster than you think. pic.twitter.com/rTCkuH0It3
— ✨ Pleasr (@PleasrDAO) June 13, 2024
“Mass replication has fundamentally altered 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 bond with music as an artwork and a personal treasure.”
Proceeds from the NFT sales will go to the Wu-Tang Clan and Cilvaringz, who, along with RZA, produced the album.
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