WILL NFT AUCTION ACTION HAND 3LAU A ROYAL FLUSH?

EDM artist 3LAU (aka Justin Blau) will offer an NFT, WAVEFORM, for auction starting 12/4 as part of the Christie’s X OpenSea collaborative sale. Taking his inspiration from the Wu-Tang Clan’s single-unit Once Upon a Time in Shaolin album, notoriously sold to a single buyer, 3LAU (managed by Andrew Goldstone at YM&U) is selling WAVEFORM as a unique item via his Royal platform, which allows fans to purchase full ownership of songs—including recorded-music and publishing rights and the ability to remix and distribute them.

Royal, you might’ve heard, completed a $55m Series A funding round around the time you picked out your Thanksgiving turkey. Investors in the platform have included Nas, The Chainsmokers and Kygo.

The winning WAVEFORM bidder will also receive a 3D (physical) sculpture of the song’s actual waveform, which will be on display at The Gateway (an exhibition presented jointly by NFT Now and Christie’s) on 12/3 in Miami Beach during Art Basel.

“3LAU has developed a mind-blowing use for NFTs in music,” declares Christie’s Head of Digital Sales Noah Davis. “Christie’s is thrilled to present a groundbreaking sonic work of art like WAVEFORM. I hope this sale will encourage musicians and songwriters of all stripes to consider the myriad ways NFTs can enrich and empower their practice.”

As the value of song catalogs escalates and NFTs and other technologies become increasingly attractive to creators, it would appear that the traditional notion of where a song fits in the economic and cultural fabric will continue to evolve and the possibilities for monetization via new ownership and exploitation models will multiply. Is it all a bubble? You’d have to ask somebody who understands this stuff.