Tommy Leas, professionally known as DJ PLS&TY in the electronic dance music industry, has launched the vinyl record of his “Very Special” EP record on the Ethereum-based art and culture exchange platform, Foundation.
Foundation allows artists to sell limited-edition art, and it prices their work based on the demand it creates over time.
The EP was originally released in April and the artist is now targeting crypto and blockchain enthusiasts, with a starting price of $50. With each record sold, the price of the vinyl is expected to increase due to rising demand.
According to an Aug. 26 announcement, the artist will be selling only 30 limited edition signed vinyls on the platform. The vinyl features four tracks from DJ PLS&TY’s latest release that include collaborations from Sean Kingston, Alex Aiono, Wifisfuneral and other artists.
DJ PLS&TY fans willing to get one of the 30 glow-in-the-dark records will have to book it beforehand by buying a $PECIAL token using the stabelcoin Dai (DAI) or directly order it by making a card payment. The $PECIAL tokens will be redeemable “anywhere in the world” in exchange for the physical vinyl once they are ready for shipment. Retweeting a post about the launch of his vinyl on the blockchain, Leas wrote:
“Appreciate you seeing the vision”
At press time, the artist has already sold 12 of the 30 tokens and the price of the vinyl currently sits at $68.27.
The convergence of the blockchain and crypto industry with music has shown great potential by getting rid of gatekeepers and middlemen in the music industry and connecting artists directly to their audience. A recent survey by one of the oldest digital music stores, eMusic, found that 65% of its customers were willing to pay in cryptocurrencies if that allowed artists to earn more.