The Weeknd to sell unreleased song as NFT
Like Snoop Dogg, Illenium, and Lindsay Lohan, The Weeknd is jumping on the NFT excitement. Via his Twitter account, the 2021 Super Bowl headliner announced an NFT drop booked for Saturday, April 3, 2021.
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
Scheduled to drop on the Niffy Gateway marketplace, the collectible is a new song and a limited edition artwork, the tweet says.
According to a press release, this partnership between The Weeknd and NFT marketplace Niffy Gateway will hinge on two main components — an unreleased song and a limited edition art developed by Strange Loop Studios. Surprisingly, this song will not be made available on any digital platform in the future — it is an NFT exclusive.
The auction will feature a flash sale of different visual art pieces, each with random and filtered clips of the song. Albeit ephemeral, these pieces will be made in unlimited digital quantities and a 24-hour auction of a never-seen-before artwork, accompanied by the song in its full and unfiltered version will ensue.
In a statement released by Niffy Gateway, The Weeknd stated that blockchains are democratizing the entertainment industry which for a long time has been controlled by a select few. Speaking on Non-fungible tokens (NFTs), The 3 times Grammy award winner described them as innovative tools that will enable creators gain farther visibility.