Scheduled to drop on the Niffy Gateway marketplace, the collectible is a new song and a limited edition artwork, the tweet says.
According to a press release, this partnership between The Weeknd and NFT marketplace Niffy Gateway will hinge on two main components — an unreleased song and a limited edition art developed by Strange Loop Studios. Surprisingly, this song will not be made available on any digital platform in the future — it is an NFT exclusive.
The auction will feature a flash sale of different visual art pieces, each with random and filtered clips of the song. Albeit ephemeral, these pieces will be made in unlimited digital quantities and a 24-hour auction of a never-seen-before artwork, accompanied by the song in its full and unfiltered version will ensue.
In a statement released by Niffy Gateway, The Weeknd stated that blockchains are democratizing the entertainment industry which for a long time has been controlled by a select few. Speaking on Non-fungible tokens (NFTs), The 3 times Grammy award winner described them as innovative tools that will enable creators gain farther visibility.
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Source: Cryptocurrency - investing.com
