The Weeknd appears ready to embrace the NFT, teasing that he'll be selling a new song for the rising cyrptocurrency.
The Weeknd has never been afraid to push the boundaries, and from the sound of it, he's ready and willing to embrace new technological advances in the music industry. With NFTs -- an acronym for Non Fungible Tokens -- having emerged as a sweeping craze in the cryptocurrency sphere, many artists have been experimenting with the unique format. And while it's unclear as to whether or not we'll see any lasting shifts to the existing model, The Weeknd appears to be gearing up to incorporate NFTs into his next song release.
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"New song living in NFT space," wrote The Weeknd, on Friday, March 26th. "Coming soon." In the same Twitter update spree, he hinted that "this chapter isn’t quite done yet," with the implication that said chapter centers around After Hours and the songs that emerged from those sessions.
At this moment, The Weeknd has yet to elaborate on his forthcoming song release, leaving questions surrounding the track's exclusivity. As NFTs are still a relatively new development, many are still in the learning process -- though several artists in the hip-hop sphere have already started implementing them into their marketing strategies. Ja Rule recently auctioned an original Fyre Festival painting for an NFT worth an approximated $122,000, while Azealia Banks offered up an NFT sex tape with her fiancé Ryder Ripps. Outside of hip-hop, Kings Of Leon became the first band to release an album as an NFT, allegedly generating over two million dollars in sales.
Keep an eye out for further news on The Weeknd's foray into the strange and exciting world of NFTs as it develops.