June 17th 2024.
Remember that highly coveted Wu-Tang Clan album that many people have never even heard? Well, it's back in the spotlight after a long period of obscurity. The album, titled Once Upon a Time in Shaolin, was once owned by the notorious Martin Shkreli, also known as the "pharma bro." But now, thanks to a company called PleasrDAO, fans of the Staten Island group can finally get their hands on it by purchasing a unique digital asset known as an NFT.
According to Forbes, this NFT of the Wu-Tang Clan album is priced at a mere $1, a much more affordable option compared to previous NFTs that have sold for exorbitant amounts. This move was made by PleasrDAO, the company that acquired the album from Shkreli after it was seized by the government following his arrest for securities fraud. Shkreli had originally purchased the album for a staggering $2 million at an auction back in 2015. However, after his conviction in 2017, the U.S. government took control of his assets, which included Once Upon a Time in Shaolin.
Interestingly, when Shkreli first bought the album, there was a contract in place that prohibited it from being released to the public for a whopping 88 years. This, combined with its hefty price tag, made it known as the most expensive album in the world. But in 2021, PleasrDAO managed to acquire the album from the government for $4 million and has since found a way to expedite its release date, which was originally set for 2103. How, you may ask? Well, for every NFT sale, the 88-year wait time for the public release of Once Upon a Time in Shaolin will be reduced by 88 seconds.
So, for just $1, fans can now access a five-minute sampler of the album. And the best part? Cryptocurrency is not required to purchase the NFT. It truly seems like the world's most expensive album is now available to the masses.
In a press release, the album's creators, RZA and producer Cilvaringz, expressed their thoughts on the current state of music and how the NFT release of Once Upon a Time in Shaolin is a way to combat its devaluation. "Mass replication has fundamentally altered our perception of recorded music," they stated. "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."
But the benefits of this NFT release don't just stop at giving fans access to the album. Proceeds from the NFT sales will also go towards the Wu-Tang Clan and Cilvaringz, the album's producers. It's a win-win situation for everyone involved.
So if you're a Wu-Tang Clan fan, now is your chance to secure a piece of history. Don't wait until 2103 to hear Once Upon a Time in Shaolin – enter the chamber and get your copy through the NFT sale. As the saying goes, time flies, and before you know it, the year 2103 will be here. So why not experience the album now and support the creators at the same time?
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