The project, titled "WAVEFORM," is the marquee offering in a collaboration between the Christie's auction house, NFT platform OpenSea, and 3LAU's own Royal business venture, which is dedicated to facilitating the tokenization of music on the blockchain.
"WAVEFORM" is the title of an original 3LAU track with only one copy in existence. Whomever takes it home at auction will enjoy full mastering and publishing rights to the intellectual property, meaning the owner can choose to distribute, monetize, remix, and even rename the track as they see fit. The NFT also includes a physical sculpture of the "WAVEFORM" waveform.
The idea is reminiscent of the distribution plan behind Wu-Tang Clan's Once Upon A Time In Shaolin album, whereupon only a single vinyl copy of the album was ever sold.
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Unfortunately, the record was sold to infamous "pharma-bro" Martin Shkreli, who was later indicted for securities fraud. As part of a subsequent asset forfeiture ruling, Shkreli had to turn over the album to the U.S. government, who later re-sold it to an undisclosed buyer. After the dizzying changing of hands, fans still have yet to hear the album—and perhaps never will.
Let's hope upcoming "WAVEFORM" sale yields a happier ending for both the buyer as well as 3LAU's fans at large. The bidding period for "WAVEFORM" begins on December 4th on OpenSea.