NFTs will be released by Ghostface Killah, based on previously unreleased lyrics written by the founder Wu-Tang Clan rapper over 20 years ago.
Ghost, the latest high-profile artist to join the buzzy tech trend, tells Rolling Stone that while he prepared for the 25th anniversary of his debut solo album Ironman, he was going through notebooks of old lyrics, some of which were over 20 years old. He and his team felt that those lyrics would be an excellent beginning to start figuring out how the NFT marketplace might work for him in the future. He hasn’t ruled out the possibility of releasing music as NFTs but believes the lyric release is an experiment. It’s unclear how many NFTs Ghost will release or when they’ll be available, but every of the lyric NFTs will be one-of-a-kind.
Past the fate of Wu- Tang’s seventh studio album “Once Upon a Time in Shaolin,” Ghostface Killah and the rest of the group now have a link with the NFT market. In 2015, Wu-Tang famously issued only one copy of the record, which was auctioned off for $2 million to convicted felon pharma-bro Martin Shkreli. In July, a group of crypto enthusiasts paid twice as much for the record and intend to use an NFT to signify their ownership. Ghostface claims that the record had no influence on his decision to experiment with crypto tokens.
Ghost is selling his NFTs through the S!NG Market, which is one of numerous NFT marketplaces centered on music. Ghost claims he had numerous suitors for an initial NFT drop, but chose S!NG because they offered him the greatest deal and were the most artist-friendly. Aloe Blacc, Limp Bizkit guitarist Wes Borland, and management and record company Shelter Music Group, whose clients include Fleetwood Mac and ZZ Top, are among the artists and music groups that have already established collaborations and NFT drops on S!NG.
Raine Maida, the lead singer of the Canadian rock band “Our Lady Peace” and S!NG’s chief product officer, has pushed for NFTs as a way to increase the value of music while also connecting with fans in new ways.
