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The Weeknd Releases an NFT Mic Drop

The Weeknd clears his schedule for an NFT mic drop! If his NFT sells well, will he have “Earned It”?

The Weeknd, a musical artist, was last seen pointing to cardboard cutouts of fans at the Super Bowl halftime show, is now hoping that more people will be able to participate in his upcoming NFT release.

The Grammy-award-winner Canadian singer has tweeted today that his first NFT collection will be released on the Nifty Gateway marketplace this Saturday (because it’s the weekend).

The NFT sale will be of an unreleased song together with an artwork he co-created with Strangeloop Studios, which makes his concert visuals for The Weeknd and artists like Kendrick Lamar.

TechCrunch stated that Nifty Gateway will hold a one-day auction for the full song with visuals, and also unlimited editions – ranging in the sale time frame – of three shorter clips with artwork.

NFTs are essentially blockchain-based tokens that are considered as a proof of ownership over something, with this case and associated file that contains musical and digital artwork.

The Weeknd, whose real name is Abel Tesfaye, will join with musicians Grimes, Kinds of Leon, and Aphex Twin, all of them have participated in what is quickly becoming a lucrative sector of the crypto industry. The top three NFT marketplaces registered $342 million in trading volume last February, more than the total in 2020.

And it was before digital artist Beeple sold a piece through Christie’s auction house for $69.3 million, the third-highest-price paid for an artwork from a living artist.

The Weeknd teased last week that a “new song living in the NFT space” was “coming soon”. Everybody hopes for the buyer’s sake, that they won’t be blinded by the price.

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