The one-of-a-kind Wu Tang Clan album made infamous by Martin Shkreli was sold by the government to a crypto collective

By CreatorStack ยท 1 month ago

Wu-Tang Clan's one-of-a-kind album - once owned by Martin Shkreli - was bought by a crypto collective known as PleasrDAO for $4 million worth of a cryptocurrency, The New York Times first reported Wednesday.

The US government, which obtained the album as part of Shkreli's monetary judgment, sold it over the summer but didn't disclose its buyer, Insider previously reported. PleasrDAO has now come forward about the purchase.

The two-disk album, titled "Once Upon a Time in Shaolin," was sold in 2015 to Shkreli - the "Pharma Bro" who has since been convicted of securities fraud - for $2 million. There is only one copy in existence after it was recorded over a six-year period.

PleasrDAO received the album on Sept. 10, according to The Times, and it now sits in a vault in New York City. The Times reported that the company paid $4 million in cryptocurrency to an intermediary, who then paid the government about $2 million US dollars.

An NFT of the album was made to represent ownership of the physical copy, The Times said, citing a lawyer who was involved in the transaction. Now, the 74 members of PleasrDAO have collective ownership of that NFT and the album.

PleasrDAO describes itself as a "collective of DeFi leaders, early NFT collectors, and digital artists who have built a formidable yet benevolent reputation for acquiring culturally significant pieces with a charitable twist."