Unreleased Whitney Houston recording NFT sells for $1m

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An unreleased Whitney Houston recording, made when she was 17, has been purchased as an NFT for $999,999.

Discovered by Primary Wave Music and her Estate final yr, it was auctioned yesterday (December 14) on the Quincy Jones-backed OneOf NFT platform.

Primary Wave acquired a 50% stake within the Whitney Houston Estate in 2019.

OneOf says that the profitable bid is now the best priced NFT public sale merchandise on the Tezos(XTZ) blockchain (the blockchain protocol on which OneOf is constructed).

In complete, the total assortment, which options uncommon photos and movies, has generated over $1.1 million in gross sales to this point.

According to OneOf, the winner of the auction now has private entry to this recording of their ‘OneOf Vault’ together with a digital video created by breakout 17-year-old artist Diana Sinclair.

Proceeds from the gross sales of the gathering will go to the non-profit Whitney E. Houston Foundation.

The assortment additionally consists of 1000’s of fixed-price NFTs, together with archival photographs from Houston’s formative years and profession

OneOf raised $63 million in a seed spherical in May from distinguished tech and music trade veterans.

The platform was co-founded by tech entrepreneur Lin Dai, digital media govt Joshua James, and music trade veteran Adam Fell, in partnership with Quincy Jones and Quincy Jones Productions.

The OneOf platform launched in August with the iHeartRadio Music Festival, and its debut artist assortment featured a 26,000 token launch from Doja Cat.

An public sale for the “one-of-a-kind” merchandise in her assortment offered for $188,000, and was beforehand the one largest public sale transaction on Tezos, previous to the sale of the Whitney Houston NFT.

“We look at blockchain technology and the NFT marketplace as a great medium to present and engage with fans.”

Rob Dippold, Primary Wave Music

Rob Dippold, Partner & President of Digital Strategy for Primary Wave Music, stated: “This initial NFT drop is one of many Whitney Houston collections as we continue to tell her story, going behind the scenes and using never-before-seen content from the estate’s archives to celebrate her career, music, and talent in new and creative ways.

“We look at blockchain technology and the NFT marketplace as a great medium to present and engage with fans in a more meaningful and profound level to showcase and heighten ‘moments’ in an artist’s career and thus allowing content to continue to be distributed (and protected) amongst fans.”

“We want to continue Whitney’s legacy, and this is a new art form for her music to be displayed. What better way than to do it with Diana and through the NFT.”

Pat Houston, The Estate of Whitney E. Houston

Pat Houston, President and CEO of The Estate of Whitney E. Houston, added: “Being able to work with someone as young as Diana, she’s 17 years old. Whitney was 17 years old when she recorded the song.

“Both come from Newark, both have the same middle name. Whitney had the desire to always help others help themselves, especially young people. She established the Whitney Houston Foundation in 1989 and she had events each year centered around young people, so it was a no brainer when we were introduced to Diana. Timing is everything and it was the right moment.

“We want to continue Whitney’s legacy, and this is a new art form for her music to be displayed. What better way than to do it with Diana and through the NFT.”Music Business Worldwide

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