It’s the 3rd year anniversary of 3LAU’s album, Ultraviolet, and this anniversary was celebrated a little differently. 3LAU has decided to tokenize his album and sell it as a Non-Fungible Token (NFT). To put it simply, NFTs are digital assets that can represent both tangible and intangible items to become unique collections. 3LAU has been a long time experimenter with NFT, and he even co-founded the first crypo-powered music festival in 2018.
Since the pandemic hit, NFTs started becoming the talk of the town, and especially so on Clubhouse. As a result, 3LAU found the perfect opportunity to do something unprecedented with the Ultraviolet album anniversary.
All top 33 bidders of this auction are rewarded.
Here are the reward tiers broken down:
Platinum Tier Exclusive Collection (Top-ranked bidder)
Platinum Vinyl NFT, which is redeemable for:
– Custom song created by 3LAU with winner’s creative direction, a 1/1 NFT
– Bonus Limited Edition Physical Vinyl
– Unlimited music unlockable on 3lau.com with your Vinyl NFT
– Lifelong AA pass to any future show or festival (higher-ranked bidders have higher chances of getting access for more exclusive festivals)
– All 11 song NFTs from the Ultraviolet album
Gold Tier Deluxe Collection (Bidders #2-6)
Gold Vinyl NFT, which is redeemable for:
– Custom mix created by 3LAU with creative direction from the winners
– Bonus Limited Edition Physical Vinyl
– Unreleased music unlockable on 3lau.com with your Vinyl NFT
– Lifelong AA pass to any future show or festival (higher-ranked bidders have higher chances of getting access for more exclusive festivals)
– 7 out of the 11 song NFTs from the Ultraviolet album (higher-ranked bidders have higher chances of receiving song NFTs of greater rarity)
Silver Tier Collection (Bidders #7-33)
Silver Vinyl NFT, which is redeemable for:
– Bonus Limited Edition Physical Vinyl
– 3 of the 11 song NFTs from the Ultraviolet Album (higher-ranked bidders have higher chances of receiving song NFTs of greater rarity)
Loyalty NFT:
Every bidder that does not win an Ultraviolet collection will still receive a complimentary Loyalty NFT. This NFT is not redeemable.
Additional information and song token previews can be found on their website.
It was an intense ride seeing $1M in bids increase to over $11M. This is a historic moment for the music and fintech industry. The auction went over 2 hours overtime and it was a fiery competition between the 2 top bidders.
3LAU has vowed to investing the money back into other artists to support them. He also has plans to build the ‘craziest live show’ that involves blockchain technology post-COVID.
With this, 3LAU has broken the NFT sales record. Although the bids for this current auction are high, he hopes to put out more affordable NFTs in the future and encourage participation.
3LAU stated on Clubhouse that, “It’s not about the dollar signs, it’s about bringing people into the ecosystem.”
NFTs are changing the music industry and are a great way for artists to diversity and expand their revenue income. It’s also a new way for them to create and distribute a new type of content. This is an exciting new chapter for the industry and for any type of artist.
