Justin Blau, known by his stage name 3LAU, is a DJ turned crypto-entrepreneur. At the end of February, he auctioned collectible NFTs for his 'Ultraviolet' album for a record-setting $11.7M.
We look under the hood of 3LAU's story, diving into what this means for crypto and the disruption of the music industry.
------ 🚀 SUBSCRIBE TO NEWSLETTER: https://newsletter.banklesshq.com/ 🎙️ SUBSCRIBE TO PODCAST: http://podcast.banklesshq.com/ ------ GO BANKLESS WITH THESE SPONSOR TOOLS:
⭐️ AAVE - BORROW OR LEND YOUR ASSETS https://bankless.cc/aave
🚀 GEMINI - MOST TRUSTED EXCHANGE AND ONRAMP https://bankless.cc/go-gemini
💳 MONOLITH - GET THE HOLY GRAIL OF BANKLESS VISA CARDS https://bankless.cc/monolith
📈 KWENTA - DERIVATIVES TRADING WITH INFINITE LIQUIDITY https://bankless.cc/kwenta ------ SotN #37: 3LAU | The Frontier of NFTs
Justin Blau, known by his stage-name 3LAU, has been experimenting in the crypto space since 2014. From February 25-28, he auctioned a total of 33 NFTs commemorating his album 'Ultraviolet', originally released in 2018. 3LAU discusses how he applied his knowledge of game theory to optimize the auction mechanism. The sales totaled $11.7M.
3LAU's biggest takeaway from all this is that the music industry is ripe for disruption. NFTs can remove intermediaries and bridge the gap between fans and creators. Transparent, immutable digital goods are increasingly accessible to the public. These tools promote direct-to-consumer transactions, democratization of data, and self-distribution.
The argument here is that given the technology of distributed ledgers, record labels are now obsolete. With an investable layer, fans are able to contribute capital and hold equity in an artist's work. 3LAU is pioneering how decentralized tokens can be optimized for medium-dependent art spaces. The future of art is decentralized, allowing infinite collaborative possibilities among fans and creators of all forms of media.
Justin on Twitter https://twitter.com/3LAU?s=20
3LAU Website https://3lau.com/
3LAU NFT Auction https://nft.3lau.com/#/auction
------ 📣REGISTER FOR COINDESK CONSENSUS 2021 AND SAVE $20 W/ BANKLESS http://bankless.cc/consensus2021 ------ CATCH UP ON BANKLESS:
🗞️ Weekly Rollup (3/5): https://shows.banklesshq.com/p/-rollup-3lau-and-grimes-nfts-paypal 🧢 Weekly Action Recap (3/6): https://newsletter.banklesshq.com/p/weekly-action-recap-177 📈 Market Monday (3/8): https://newsletter.banklesshq.com/p/eip-1559-on-the-horizon-market-monday 🎙️ Podcast | Bankless 2.0 (3/8): https://shows.banklesshq.com/p/-welcome-to-bankless-2021-edition 🐦 Follow Bankless on Twitter: https://twitter.com/BanklessHQ
----- Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.
Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here: https://newsletter.banklesshq.com/p/bankless-disclosures
Bankless 