NFT ownership collaborative PleasrDAO says it purchased rare Wu-Tang Clan album

The New York Times reported on Wednesday that the DAO purchased the album after the federal government sold it for $4 million in July. At the time, the government gave no details about who the buyer was. According to The Times, PleasrDAO purchased the album on September 10.

Former pharmaceutical executive Martin Shkreli originally bought the album for $2 million at auction in 2015. Federal authorities seized the album after Shkreli was found guilty of fraud in 2017. According to a blog post by PleasrDAO on Wednesday, the government kept him in a temperature-controlled safe in the basement of the Ministry of Justice.

The Wu-Tang Clan created only two “Once Upon a Time in Shaolin” albums and placed extreme legal restrictions on them as a way of protesting the digitization of the music industry. For example, the album may not be commercially released until 2103 and may not be played or released to large audiences.

However, PleasrDAO aims to allow non-owners of the album to listen to its content, while respecting legal parameters.

PleasrDAO also has a variety of high profile (and high value) NFTs. In September, the group purchased an NFT of the original Doge meme for $225 million. In April it bought an NFT printed by Edward Snowden for $5.4 million.

Source: www.theblockcrypto.com