While I google what NFTs really mean, The Weeknd is selling new music and limited edition art in an NFT drop this weekend.
2021 has made us experts in numerous things: manipulating the stock market through Reddit threads, maritime trade and economy and the impact of a single boat, and NFTs. Still confused about what they are? So am I. They’re unique, and apparently the newest step to becoming a true art connoisseur, albeit the digital kind. I totally did not Google that.
The more important thing, however, is that you can now get your hands on some unique items by The Weeknd, courtesy of his NFT drop this weekend.
The Weeknd has announced that he will be selling a new song and limited edition art — the latter developed in collaboration with Strange Loop Studios — as ‘Non-fungible tokens’ over the weekend. This is reportedly going to be his first NFT sale.
Excited to announce that my first NFT drop is taking place on Saturday at 2:00 pm EST on @niftygateway. The collection will feature new music and limited edition art. I developed the artwork with Strange Loop Studios pic.twitter.com/627BO4JekK
— The Weeknd (@theweeknd) March 31, 2021
The drop will be held in two phases. The first will be a flash sale for three visual artworks, which will each have a segment from a new song. For a limited time, there will be an unlimited amount of these available for purchase.
The second will be a 24-hour auction where people can bid for an exclusive 1-of-1 artwork with the song in its entirety. This will be the only unfiltered and full copy of the song: The Weeknd will not be releasing it on any other platforms.
In a statement, the singer expressed hope that NFTs could be woven into the fabric of the industry in the future, saying: “Blockchain is democratizing an industry that has historically been kept shut by the gatekeepers.
“I’ve always been looking for ways to innovate for fans and shift this archaic music biz and seeing NFT’s allowing creators to be seen and heard more than ever before on their terms is profoundly exciting. I intend to contribute to this movement and can see that very soon it will be weaved into the music industry’s mechanics.” he said.
The sale will take place on Sunday, April 4th at 5am AEST on the NFT marketplace Nifty Gateway.
You can read more about this topic over at the Pop Observer.