A non-fungible token (NFT) collection honoring Biggie Smalls just proved to be highly anticipated, selling out within just ten minutes.
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As AfroTech previously told you, OneOf released The Sky’s the Limit: The Notorious B.I.G. NFT Collection, in partnership with The Christopher Wallace Estate, on July 26 for fans to experience the iconic rapper like never before.
Collectors received NFT characters reflecting Biggie’s “life, style, and lyrics.”
In addition, holders secured the rights to license a never-before-released audio freestyle from when he was 17-year-old. Now the song can be used in their own recordings and be released on streaming platforms as long as “featuring The Notorious B.I.G.” is included in the song title.
“In a landmark collaboration with Biggie’s family, OneOf holds the exclusive music licensing rights to Biggie’s iconic “Fulton Street Freestyle,” and the Collective holds the key to its future. The members of Sky’s The Limit will together decide which artists, DJs, and musicians can remix or sample the track – keeping the dough to help grow the Collective. With 100% voting rights for every member, the success of The Collective is in your hands. Together with your fellow NFT holders, you decide how the freestyle is used,” OneOf said on Tuesday’s launch details.
Sold Out Collection
According to the official website, the collection featured 3,000 3D collectibles priced between $109 (the floor price) and $5,000.
Ten minutes after the collection went live on OneOf’s platform, users saw the message “sold out” plastered on their screens, Bitcoin.com reports.
“The goal of our NFT collection was to create something to honor Biggie’s legacy, and bring fans in to participate in an exciting new way. Selling 3,000 NFTs in just 10 minutes shows that fans are engaged in Web3 and want to play a creative role in Biggie’s legacy,” Joshua James, COO of OneOf, told AfroTech exclusively.
“We are happy BIG’s fans showed up and showed out to participate in and honor his legacy with the sale of this NFT, it’s because of them the drop sold out in 10 minutes and it’s for them that the NFT was created. I’m looking forward to see what they will create with the legendary Bedford Avenue Freestyle sample,” Wayne Barrow, Manager of Voletta Wallace and Biggie’s estate, told AfroTech.