Key facts:
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The NFT will be visible on the Ethereum-based platform, Decentraland.
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Part of the proceeds will go to the Shawn Carter Foundation.
The famous American rapper Jay-Z, has decided to dive into the world of non-expendable tokens (NFT), in conjunction with the auction house Sotheby’s.
On this occasion, Jay-Z returned to his origins with his debut album Reasonable Doubt for convert your cover to an NFT. The difference with this new bet of the rapper, is that the cover of the record production is a reinterpretation of it, made by the renowned plastic artist Derrick Adams.
According to a Sotheby’s post, the NFT called Heir to the Throne, is a single animated digital artwork.
The work will be put up for auction with a launch price of USD 1,000, and can also be purchased with cryptocurrencies, although they do not specify which ones will be accepted. The token will be available until July 2.
“Adams’ work reinterprets and recontextualizes the album cover to create a new contemporary version of an era-defining portrait, as a comment and reminder that Reasonable Doubt it remains vital and new today, ” notes Sotheby’s.
Currently Adams ‘ work is in view at Sotheby’s York Avenue Galleries. Fans of the virtual can also check it out at Sotheby’s gallery in the Voltaire Art District of Ethereum-based virtual reality platform Decentraland.
The launch of the NFT this June 25, is a way to celebrate that just this day, the album Reasonable Doubt 25 years since its release. The album sold 1,514,000 copies and was critically acclaimed. It is even considered by some as a Hip-Hop classic.
What is obtained in the auction will be donated to the Shawn Carter Foundation, Jay-Z’s real name. The organization helps people facing socio-economic hardship continue their education in post-secondary institutions, Sotheby’s says.
Artists rely on the NFT
The NFT have flooded different areas such as sports and music, so much so that artists such as Puerto Rican singer Ozuna a few months ago took out their tokens in the form of “Teddy Bears,” as CriptoNoticias reported.
Likewise, the American rock band Kings of Leon, put on sale a promotional package of their new album When You See Yourself, in NFT format.