Electronic music artist deadmau5 has been an early adopter of NFTs, but his latest move is his most interesting yet: testing the idea at scale. His new single with Portugal. The Man – ‘this is fine’ – will be released as one million NFTs, each costing 0.25 NEAR. At the time of writing, one unit of that particular cryptocurrency is worth $8.34, so that’s around $2.09, which may spark memories of the heyday of music downloads.
The phased release is happening through NFTs firm Mintbase. 502,724 NFTs have been released so far, with (again, at the time of writing) 67,812 of them still available. Separately, on the OpenSea marketplace, there’s a 50-edition NFTbased on the single that will give owners “instructions to get an 18×24 poster” signed by Portugal. The Man’s John Gourley and visual artist Wooden Cyclops. How much for that? A mere 0.07 ETH (around $319)!
We can’t help wondering why it wouldn’t be easier to just sell 50 signed posters, and cut out the middle-NFT-instructions part.