According to BlockBeats, PleasrDAO, a platform for collecting crypto art, has filed a lawsuit against Martin Shkreli for duplicating a unique Wu-Tang Clan album. Shkreli had purchased the Wu-Tang Clan's album 'Once Upon a Time in Shaolin' for approximately $2 million in 2015. However, the album was confiscated as part of $7.4 million in assets when he was convicted of securities fraud in 2017.
In 2021, PleasrDAO paid $4 million and an additional $750,000 in 2024 to acquire the album along with the exclusive rights to the music, data, files, and packaging. Despite this, after being released from prison in May 2022, Shkreli informed his social media followers that he had retained and shared the album. He even live-streamed it on X Spaces on a Sunday, with thousands of people tuning in to listen to the album.
The lawsuit by PleasrDAO is a significant development in the world of crypto art and copyright law. It highlights the complexities and challenges that can arise when dealing with unique digital assets and their ownership rights. The outcome of this case could have far-reaching implications for the future of digital art and copyright in the crypto space.
Beincrypto