The Breakdown PleaserDAO Sues Martin Shkreli Over Wu-Tang Album
Jun 13, 2024
Exploring the legal battle between PleaserDAO and Martin Shkreli over the unreleased Wu-Tang Clan music, discussing the involvement of PleaserDAO in the crypto space, the legal complexities of the case, and the implications for copyright law and DAO governance.
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PleaserDAO & Wu-Tang Clan
- PleaserDAO, a decentralized art investment empire, purchased the Wu-Tang Clan's unreleased album, Once Upon a Time in Shaolin, for $4 million in 2021.
- This purchase, lauded as a Web3 victory, aimed to challenge traditional art ownership and empower artists.
Shkreli's Ownership & Forfeiture
- Martin Shkreli, known as 'Pharma Bro', originally bought the album but later forfeited it due to securities fraud charges.
- PleaserDAO framed their purchase as reclaiming the album from Shkreli for the people.
Limited Access & Lawsuit
- Despite promises of public access, PleaserDAO held limited listening parties.
- Shkreli, having made copies, taunted the DAO and played excerpts online, leading to a lawsuit.