The Weeknd Announces NFT Drop

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The Weeknd announced Wednesday his first ever non-fungible token (NFT) drop will take place Saturday at 2 p.m. EST.

“The collection will feature new music and limited edition art,” the Canadian singer tweeted. "I developed the artwork with Strange Loop Studios.”

The sale happens via Nifty Gateway (which lists The Weeknd’s drop as happening at “1:30 / 2:00 PM.” It will begin with a limited-time open edition flash sale of three pieces of visual art, each with a filtered segment of a new song.

Then, there will be a 24-hour auction of “an exclusive 1-of-1 piece of art” featuring the full song unfiltered. Since The Weeknd will not be releasing the song on any platform, the auction winner will be the only person to own it.

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“Blockchain is democratizing an industry that has historically been kept shut by the gatekeepers,” The Weeknd said, in a release. “I’ve always been looking for ways to innovate for fans and shift this archaic music biz and seeing NFTs allowing creators to be seen and heard more than ever before on their terms is profoundly exciting.

“I intend to contribute to this movement and can see that very soon it will be weaved into the music industry’s mechanics.”

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