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Leighton Cusack & Matt Metkov from PleasrDAO discuss acquiring the Wu-Tang Clan album to restore its value in the digital age. They explore music ownership, NFTs, and fair distribution in the Web3 era, highlighting the impact of crypto on digital ownership.
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Quick takeaways
- Unique album highlights struggle for music ownership and value.
- Transition from exclusive to community ownership promotes digital art appreciation.
Deep dives
Background of Wu-Tang Clan and Music Industry Digitization
The Wu-Tang Clan, a renowned rap group, protested the devaluation of music due to digitization by creating a one-of-one album in 2014. Music suffered as digital copies were easily replicable and undervalued, unlike physical art with scarcity. This led to an auction of the unique album, Once Upon a Time in Shaolin, to Martin Shkreli, known for controversies and price hikes, highlighting the struggle for music ownership and value.
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