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World-famous DJ and producer Don Diablo has sold the first-ever hour-long concert NFT for 600 ETH, or at the time of writing approximately $1.2 million. The piece was listed and sold on the popular NFT marketplace SuperRare, which is known for curating a more ‘cultured’ marketplace with high barriers to entry for artists and creators.
The 60-minute show, titled Destination Hexagonia, was created exclusively for the auction and filmed over a year in collaboration with videographer Paul Snijder. The video features green screen effects and 3D rendered characters. The NFT was sold as a one-of-one, and ‘the physical copy of the artwork’ will be delivered to the auction winner via a unique USB stick, which contains the video file.
The sale of the digital collectible marks the most expensive NFT sale in the last 7-days followed closely by CryptoPunk#6704 which sold for just over $750,000 1 day prior. Don Diablo had this to say about his debut into the world of NFTs:
“At this point, we almost feel like this particular piece has become priceless because we worked on it for almost a year and put an incredible amount of love and effort into it. What’s next? I’ve got some incredibly exciting collaborations lined up and I can not wait to share it with the world very soon, this is just the beginning.”
The Dutch producer and blockchain advocate also founded the Hexagon Foundation to help artists in the NFT space get started, stating that money from the recent auction will be invested back into the foundation. At this point, nobody knows if the new owner will share their unique AV experience with the world but those interested can view a small snippet from the show below.
With all the hype surrounding NFTs right now, it is incredibly difficult to pinpoint in which direction the industry will flow. One thing that’s been discussed for years is how blockchain technology and NFTs could revolutionize the music industry for creators. Projects such as Euler Beats and Audius are moving in that direction, but it may still take years.
One idea that comes to mind given this sale is that artists may shortly create these experiences for the masses rather than just one owner. Selling tickets to a debut or live screening as NFTs. Furthermore, the new owner could now decide to do something similar and charge people a fee to watch the full one-hour show and recoup their expenditure with the bonus of still owning the original – the possibilities are truly endless.