Wu-Tang Clan’s Once Upon a Time in Shaolin is finally available for the public to purchase… as a $1 NFT. The album’s owner PleasrDAO launched the sale on Thursday (June 13).
“This album sale is more than just about the music,” a PleasrDAO rep said. “It’s about redefining how we think about ownership of music and fan collaboration in the digital age.”
The lone copy of Once Upon a Time in Shaolin was originally sold to “Pharma Bro” Martin Shkreli in 2015. A legal agreement prevented the album from being commercially exploited until 2103. Shkreli forfeited the album as part of his punishment for a fraud conviction. PleasrDAO bought the Wu-Tang Clan project for $4 million in 2021.
PleasrDAO negotiated with the album’s producer Cilvaringz to secure Once Upon a Time in Shaolin’s commercial rights and make it available to the public. According to Decrypt, PleasrDAO acquired the rights to 16 of the 31 tracks.
The world's most expensive album is available for $1.
— ✨ Pleasr (@PleasrDAO) June 13, 2024
Enter the chamber and secure a copy – 2103 will come faster than you think.https://t.co/QRmGdIrwOy pic.twitter.com/rTCkuH0It3
Once Upon a Time in Shaolin was digitized and encrypted for a unique sale. NFT buyers will receive immediate access to an album sampler created by Cilvaringz. More music will become available as PleasrDAO works on securing the complete rights.
PleasrDAO aims to accelerate the 2103 release date with each NFT purchase, which shaves time off the countdown clock. Wu-Tang Clan members, Cilvaringz and other contributors will receive a part of the proceeds from the sales.
Once Upon a Time in Shaolin is “distributed in partnership with Privy, Crossmint, and Holograph and is built on Base.” Fans do not need cryptocurrency to buy the album. Credit cards and Apple Pay are also accepted on TheAlbum.com.
Wu-Tang Clan’s album went on sale days after PleasrDAO sued Shkreli for misappropriation of confidential information, tortious interference with prospective economic advantage and unjust enrichment, among other claims. Shkreli was accused of illegally retaining copies of Once Upon a Time in Shaolin.