The NFT can be seen on the Ethereum-based platform Decentraland.
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-fungible tokens (NFT), in conjunction with the auction house Sotheby’s.
On this occasion, Jay-Z returned to his roots with his debut album Reasonable Doubt for turn your cover into an NFT. The difference with this new bet by the rapper is that the cover of the record production is a reinterpretation of it, made by the renowned artist Derrick Adams.
According to a Sotheby’s publication, 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’s work reinterprets and recontextualizes the album cover to create a contemporary remake of an era-defining portrait, as a comment and reminder that Reasonable Doubt remains vital and new today,” Sotheby’s notes.
At the moment Adams’ work is on view at Sotheby’s York Avenue Galleries. Fans of the virtual will also be able to check it out at Sotheby’s gallery in the Voltaire Art District on Ethereum-based virtual reality platform Decentraland.
Jay-Z’s cover can be viewed on the Ethereum-based platform, Decentraland. Source: Decentraland.
The launch of the NFT this June 25, is a way to celebrate that just this day, the album Reasonable Doubt celebrates 25 years since its release. The album sold 1,514,000 copies and was critically acclaimed. It is even considered by some as a classic of Hip-Hop.
The amount obtained in the auction will be donated to the Shawn Carter Foundation, Jay-Z’s real name. In the organization they help people facing socio-economic difficulties to continue their education in post-secondary institutions, according to Sotheby’s.
Artists rely on NFTs
The NFTs have flooded different areas such as sports and music, so much so that artists such as the Puerto Rican singer Ozuna a few months ago took out their tokens in the form of “Bears”, as reported by CriptoNoticias.
Likewise, the North American rock band Kings of Leon, put on sale a promotional package of their new album When You See Yourself, in NFT format.