By Shelly Melancon (Switzerland)
Another record-breaking NFT sale has been made. This time around, it is not the price of the NFT that makes it notable; rather, it is the personality behind it- popular American rapper reputedly known as Jay-Z or by real name, Shawn Carter. Jay-Z sold his which was made to commemorate the 25th anniversary of his debut album. The album titled ‘Reasonable Doubt’ was his first studio album released in 1996.
Sotheby’s Auctions WWW Original Source Code as NFT
The auction sale was made by popular auction house, Sotheby’s which was also responsible for the auction sale of the $12 million CryptoPunk NFT sale in June and another record-shattering sale of the original source code for the World Wide Web for garnered $5.45 million after a much contested auction. The WWW source code NFT sale was the first of its kind, thereby bringing unrivaled attention to it. Besides, what made it more interesting is what the source code actually represents.
The NFT source code was titled, ‘This Changed Everything’ indicating the starting point of what was later known as the Internet. The creator of the source code, Tim Berners-Lee publicized the source code when he first created it, setting the stage for improvements and other innovations. At a time when he could have profited from the invention by patenting it, he chose to make it open source.
Also read:Although he could have been worth more, Berners-Lee is estimated to be worth $10 million today. The NFT sale is the first time he is profiting from his invention. According to reports, part of the proceeds from the sale will go to charity organizations that Berners-Lee and his wife belong to. Berners-Lee commented on what NFTs represented, saying they were the most appropriate means of ownership.
Baltimore Artist, Derrick Adams Involved in Jay-Z’s NFT Auction
Jay-Z NFT sold for $139,000 after so many bids beginning from $1000. The sale featured digital artwork from Baltimore-based multidisciplinary artist and painter, Derrick Adams. Details of the sale revealed that the digital artwork was named, “Heir to the Throne: An NFT in Celebration of Jay-Z’s Reasonable Doubt 25th Anniversary by Derrick Adams.” A physical copy of the artwork will however be made for Jay-Z’s personal collection.
Before the plans to make an NFT out of his debut album were set in motion, the album was embroiled in some sort of controversy as a co-owner of the rapper’s label attempted transferring the rights he had to the album via an NFT sale. When attempts to do that failed, he opted to sell his rights on the record label, which likewise ended in a fiasco.
The NFT sale of Jay-Z is a forerunner for other music-based NFT sales in the future as music streaming platforms such as Spotify are looking to ride on the prevailing NFT wave. NFTs have also found use cases in the sports industry with NFT platforms like Sorare and NBATopShots catering for sports-based non-fungible tokens.
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