Wu-Tang Clan’s “Once Upon a Time in Shaolin” could have an earlier release date thanks to non-fungible token (NFT) collective PleasrDAO. In 2015, the legendary Hip-Hop group auctioned off only one physical copy of their seventh studio album, and former “pharma bro” 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 stated that “Once Upon a Time in Shaolin” was prohibited from being publicly released until Oct. 8, 2103, which was 88 years into the future. However, the album isn’t as inaccessible now. The New York Times reports that on June 13, PleasrDAO started giving listeners access to a five-minute sampler of an encrypted digital version, an NFT, for $1 in addition to fees. The collective stated it was part of an experiment and posed the question: “Do people still...
2021 to 2022 was a time when the trend of non-fungible tokens (NFTs) was booming. Celebrities such as Stephen Curry were purchasing NFTs for hundreds of thousands of dollars. In addition, a whopping number of people were launching their own exclusive collections and even creating their own cryptocurrency.
Three founders combined their backgrounds to launch an innovative technology platform that’s attracting the likes of Savannah and Bronny James.
Remember when rapper Mike Jones had everyone singing, “Back then they didn’t want me. Now I’m hot; they all on me?” If there were a reverse meaning to this lyric in object form, it would be the popularity of NFT collections. Several months ago, non-fungible tokens (NFT) were all the rave. Almost every week, there was an announcement about a different influencer or organization turning their product or experience into an NFT. And while some financial experts predicted the depreciation of some NFTs, many didn’t think they would plummet in value as quickly as they did.