U-Tang Clan changes hands to an NFT art collective from unpublished album Martin Schreckley – Bitcoin News

After fighting in court since 2015, former hedge fund manager Martin Schreiber was sentenced to seven years in prison for conspiracy to commit securities fraud and was forced to pay a 7.4 million fine. One of Shkreli’s most valuable assets, an unpublished Wu-Tang Clan album, was seized by US marshals and sold for 4 million. Recently, the public was told that the unpublished record, “Once Upon a Time in Shaolin,” was sold to a non-fungible token (NFT) collector’s syndicate called “Pleasardao.”

The new owners of ‘Once Upon a Time in Shaolin’

Long ago, hedge fund manager Martin Schreilly used to stream live and brag about his unpublished U-Tang Clan album he bought in 2015 at an auction for 2 million. However, a few years later, Shrekley was sentenced by a U.S. court to seven years in prison for conspiracy to commit securities fraud.

While serving his sentence in a low-security federal prison in Allenwood, Pennsylvania, Shrekley was forced to confiscate his vast wealth and pay a fine of up to 7.4 million. The alluring U-Tang album he boasted about was confiscated by the US Marshals.

U-Tang Clan changes hands to NFT Art Collective from unreleased album Martin Shackley
Former hedge fund manager and convicted criminal Martin Shakreli (pictured left) and “Once Upon a Time in Shaolin” (pictured right) are the next claims on the U-Tang group’s record.

The new owner of “Once Upon a Time in Shaolin” is a group called Pleasrdao, a group of Defy leaders, early NFT collectors and digital artists. According to an in-depth report published on October 20, 2021, Plisardao jointly bought the Wu-Tang album for 4 million, and the company’s goal is to bring the unpublished record back to the public. James Johnson, Plisardao’s “chief pleasure officer,” explained that the purchase was a great achievement.

“This beautiful work of art, this ultimate protest against the middlemen and against the mercenaries of musicians and artists, has gone south into the hands of the ultimate internet villain Martin Shackley,” Johnson explained. “We want to bring it back to the people. We want fans to participate in this album at some point.

Community ownership and personal exhibition concepts

The group’s website says the DAO is examining digital and community ownership. “Its members are exploring ideas such as distributing to the community and fragmenting iconic pieces owned.”

U-Tang Clan changes hands to NFT Art Collective from unreleased album Martin Shackley
Pleasardao’s Chief Pleasing Officer, James Johnson (center in the picture), and Pleasardao team with the unpublished U-Tang Clan album “Once Upon a Time in Shaolin.”

Speaking of achieving the unreleased Wu-Tang Clan record, Cyrus Bozorgmehr, a man who worked closely with the album, explained that the album could be run for payers for exhibition tickets.

“You couldn’t play [the album] On the stage of Kochella, but you can take six really great places around the world and exhibit with it where 200 people come together, ”said Bozorgmehr. Currently, Pleasrdao has not jointly revealed what they plan to do with the alluring U-Tang Clan album “Once Upon a Time in Shaolin”.

What do you think of the unpublished U-Tang album being sold to a Defi and NFT joint? Let us know what you think about this in the comments section below.

Tags in this story

Auctions, Community Ownership, Court Cases, Cyrus Bozorgmehr, Former Hedge Fund Manager, Fractions of NFTs, James Johnson, Martin Shakreli, NFT, NFT Auctions, NFT Collective, NFT Sales, NFTN, NFN, None Pleasrdao, Securities Fraud, US Marshal, Wu Tang Clan

Image credit: Shutterstock, Pixabay, Wiki Commons, Rolling Stone, Pleasrdao,

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