Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
The award-winning artists want their new release āThis is fineā to become the first NFT single ever to go platinum, but itās unclear whether that is even possible.
Dance music star Deadmau5 and Grammy award-winning indie rock band Portugal The Man have teamed up to release 1 million copies of their new single āThis is fineā as nonfungible tokens (NFT).
The single was released on Deadmau5ās (whose real name is Joel Zimmerman) label, Mau5trap, with the aim to have the single be the first NFT to go platinum.
The artists minted 1 million units on the Near Protocol blockchain and released them on marketplace Mintbase. A quarter of a million units were available for purchase during Art Baselās āMiami Beachā art show on Thursday.
We are excited to welcome @deadmau5 @portugalthemanĀ to Miami for #ArtBasel and the exciting launch of their "platinum"Ā #NFT music project on @Mintbase with @nearprotocol
ā Mayor Francis Suarez (@FrancisSuarez) December 2, 2021
The remaining singles will be sold as a mix of single units and bundled units, which will have unique attributes. The bundled unit prices are still undetermined.
The announcement promised āmultiple metaverse integrations and rewards coming for collectors of this NFTā but provided no additional details.
mau5 x @portugaltheman āthis is fineā now available at @mintbase :D https://t.co/qvfGeLAWVC pic.twitter.com/EXPXIONcbl
ā Goat lord (@deadmau5) December 2, 2021
According to The Recording Industry Association of America, a certified platinum sale is 1 million units. It remains unclear whether the song will go platinum even if all 1 million copies sell out due to its unconventional release method.
Each NFT is being sold for 0.25 NEAR per piece, or around $2.20 ā similar to the price of an iTunes download in the pre-stream years.
In addition to the single, each NFT also features unique artwork by Wooden Cyclops, the art director of Portugal The Man. He collaborated on the artwork with Smearballs, the artist behind Deadmau5ās characters in his music videos āMonophobia,ā āDrama Freeā and āPomegranate.ā
NFT + Poster To celebrate the NFT song collab drop from @portugaltheman x @deadmau5 get instructions to get an 18x24 poster signed by John Gourley from Portugal the Man and myself #woodencyclops #portugaltheman #deadmau5 #OpenSeaNFT https://t.co/P7RsWBGT14 pic.twitter.com/gNFw0LnIlh
ā Wooden Cyclops (@WoodenCyclops) December 2, 2021
Related:Ā Snoop drops āDecentralized Doggā NFT like itās hot
Deadmau5 is not new to the NFT game. In December 2020, Zimmerman partnered with augmented reality artist Sutu to create NFT āIn Titanās Light,āĀ a 30-second audio-reactive artwork loop paired with a section of the Deadmau5 track āSatrn.ā
A month later, in January 2021, heĀ partnered with digital artist Mad Dog Jones to release two NFT art collections on the Winklevoss-owned Nifty Gateway.
In the same month, Portugal The Man launched its crypto token,Ā PTM Coin, on the Ethereum-based Rally Network. The token grants fans exclusive access to events and perks.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.