Wu-Tang Clan Album Are Being Sold As NFTs - Noise11.com


Wu-Tang Clan Album Are Being Sold As NFTs

by Paul Cashmere on June 14, 2024

in News

Samples of Wu-Tang Clan’s one-off ‘Once Upon a Time in Shaolin’ album are now available as NFT.

Every NFT purchased speeds up the release of the album by 88 seconds. The album is currently 78 years away from release, according to https://www.thealbum.com

The current owners of the album PleasrDAO purchased the album for $4 million after scumbag Martin Shkreli was jailed and his assets sold off. The pharma felon made his millions by inflating the price of a life saving drug for the terminally ill. When Wu-Tang Clan auctioned the album, he was the purchaser. The album was one of the asset seized and sold-off when he was jailed.

PleasrDAO has made 10 times their money back so far with the NFT sale.

Incidentally, the first public airing of a portion of the album with will 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 era, only one physical copy of the album was created. Once Upon a Time in Shaolin went on to become the most expensive work of music ever sold — twice.

This album is a nostalgic journey through the chambers of a glorious era. Its announcement on March 26th 2014 as a single work of art captivated the world’s attention and with the 88 year embargo on commercialization it solidified its statement and place in the history of music. Never before has a music album ever existed in such a form. The album is housed in a handcrafted silver and nickel box, alongside a 174-page leather-bound book of 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 in how our generation would come to experience it. But this came at a cost.

In 2015, the album was sold at auction for a staggering $2 million to Martin Shkreli, breaking records and making headlines worldwide. Following Shkreli’s conviction for securities fraud, the U.S. 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 the album valuable was by making 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 in redefining the meaning of music ownership and value in a digital world.

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