THE WEEKND JUMPS ON THE BLOCKCHAIN BANDWAGON: NFTS ARE ‘DEMOCRATIZING’ THE MUSIC INDUSTRY, HE SAYS

The Weeknd is releasing a new song this weekend, but you may never own it – let alone hear it - unless you have very deep pockets.

THE WEEKND (THE CANADIAN PRESS/AP PHOTO/ASHLEY LANDIS)

The Weeknd is releasing a new song this weekend, but you may never own it – let alone hear it – unless you have very deep pockets.

Scarborough-born R&B superstar Abel Tesfaye – better known as The Weeknd – is jumping on the blockchain bandwagon and the recent NFT (non-fungible token) craze: he will auction off a previously unreleased song and some art at niftygateway.com beginning this Saturday at 2 p.m. EST.

Actually, he’ll be auctioning four NFTs in total: three will include a unique filtered clip of the as-yet-unidentified tune bundled with an original piece of artwork he’s created with Los Angeles-based Strangeloop Studios.

The fourth NFT will be subject to a 24-hour auction of a one-of-a-kind art piece accompanied by the full, unfiltered song.

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