We’re excited to announce that we’ve upgraded Dshop with a killer set of new features to enable musicians, artists, and other creators to sell NFTs to their superfans. NFTs sold on Origin can be used to redeem limited-edition physical collectibles, unlock exclusive content, and gain access to premium experiences.
We are partnering with CoinTelegraph Top 100 member and world-acclaimed musician and producer 3LAU to launch his exclusive Ultraviolet Vinyl NFT Collection auction. This is the very first time in history that a full musical album has been tokenized on the blockchain.
You can sign up today to be notified of the drop at nft.3lau.com.
3LAU will launch his most compelling NFT drop to date on February 26, 2021 at 3:00 UTC (2/25 at 7PM PST, 10PM EST), featuring the Ultraviolet Vinyl NFT Collection, in order to commemorate the three-year anniversary of his album release. The auction will run for 2 days and end on February 28, 2021 at 3:00 UTC (2/27 at 7PM PST, 10PM EST). 3LAU chose Origin as his technology provider for his most sophisticated drop because we provided him with a fully customized, direct-to-fan platform where he controls the brand experience and pricing mechanics.
The Ultraviolet Vinyl NFT Collection
Participants in the 2-day auction can bid to win 1 of 33 NFTs redeemable for special edition vinyls, unreleased music, and unique experiences. In addition, winners will also receive up to 11 bonus song NFTs from the Ultraviolet album that 3LAU personally animated and designed. At the end of the auction, 33 winners will each receive one NFT redeemable for a collection of physical and digital rewards. Higher-ranked bidders also have higher chances of receiving song NFTs of greater rarity. Participants who do not win will still receive a commemorative participation NFT. Check out nft.3lau.com for the official rules and details.
New commerce opportunities for creators
Today’s launch is important for creators for many reasons. Just as many other industries were hit hard during COVID-19, most musicians, producers, singers, and other celebrity performers have been unable to tour and monetize their audiences. Multiple marquee movies have gone straight to digital streaming services, skipping the big screen completely. Many celebrities and influencers have only been able to generate small fractions of their previous earnings in this challenging time period.
Non-fungible tokens (NFTs) bring enormous opportunities for creators like 3LAU and others to generate new sources of revenue. They also give entertainers the ability to create new, unique, and interesting ways to interact with their fans, especially in light of lockdowns created by COVID-19. 3LAU has already performed eight NFT drops in the last five months, generating over $1.1 million in aggregate sales from his earlier audiovisual art pieces.
Today, 3LAU and Origin are taking NFT-powered commerce to the next level. 3LAU’s latest NFTs are far more than digital art, and Origin’s Dshop features are differentiated from existing offerings in several key ways.
With the Ultraviolet Collection, 3LAU and Origin are simultaneously enabling three new killer use cases for NFTs.
NFTs redeemable for physical goods
Each Vinyl NFT in the Ultraviolet Collection is redeemable for a special-edition physical vinyl. Only 33 of these will ever be created as special collector items. Again, this is the first time in history that a full album has been tokenized on-chain. In addition, 3LAU will personally sign the commemorative vinyl packaging. When a Vinyl NFT is redeemed, the token’s metadata will be updated and it will serve as a certification of authenticity for the physical vinyl (e.g. original purchase date, redemption date, etc.).
We believe there is a multi-billion dollar opportunity for NFTs that represent offline goods and services. Beyond today’s launch, we anticipate NFTs will be used to represent high-end sneakers, fine art, and other scarce items where authenticity needs to be enforced. NFTs also provide a way to track the provenance of these items as they are sold and resold between collectors in aftermarkets. Dshop, now supporting NFTs, will enable creators to come up with various physical product offerings to pair with their audiovisual NFTs.
NFTs to unlock premium content
In addition, each of the 33 Vinyl NFTs will unlock exclusive, unreleased music on 3lau.com. Today’s launch comes with a custom music player that requires the user to be holding a Vinyl NFT to play 3LAU’s exclusive music content.
Superfans who hold these NFTs will gain access to content that the general public is unable to access. This creates a higher level of engagement with the creators. It’s important to note that this content is available to the purchasers of these NFTs in both the unredeemed and redeemed states.
In the future, it’s easy to imagine that other forms of digital content can be unlocked via NFTs on Origin’s platform. This could be premium articles written by journalists or analysts, premium video content and live streams, or access to special levels and in-game items for social and mobile games.
NFTs as access passes to premium experiences
Perhaps the most exciting offering in today’s launch is the never-before-offered experience for the top bidder to collaborate directly with 3LAU on producing a brand new song. 3LAU will take creative input from the winner of the Platinum Ultraviolet Vinyl Collection NFT when it is redeemed to personalize and customize a song to their personal tastes. This is a truly once-in-a-lifetime opportunity and will go down in history as the first time an NFT purchase has been used to produce mainstream content for the masses. This makes the Platinum Ultraviolet Vinyl Collection extremely valuable for both 3LAU’s superfans and NFT collectors and speculators alike.
Similarly, the Gold Ultraviolet Vinyl Collection NFT winners will also be able to participate in the creative production of a brand new mix. Each of these five winners will be able to select two of their favorite dance songs that 3LAU will use in a customized mix dedicated to these 5 winners.
In future launches, 3LAU and other artists will be able to offer private parties, backstage passes, 1-on-1 video calls or in-person meetings, birthday shoutouts, and other experiences via the Origin NFT platform.
By offering these exclusive products, content, and experiences, 3LAU and other creators will be able to effectively monetize their superfans. 3LAU has already amassed over 1 billion streams across Spotify, YouTube, Soundcloud, etc., yet the economics of streaming music is far from favorable for artists. However, by targeting superfans, 3LAU can monetize his content and other products at several orders of magnitude greater than with streaming music.
Beyond these new NFT use cases, Origin is the first platform that enables the creation and sales of NFTs from creators directly to consumers. Our white-label service gives creators the ability to engage with their audiences on their own websites, giving them brand control and a variety of customizable features. For example, Origin enables the creator to set different tiers of winners, determine pricing mechanics (e.g. auction vs. fixed price), and customize rewards.
We also provide creators a reseller marketplace that is built into the product, allowing for a liquid secondary market that enables price discovery of the NFTs and associated physical and digital products. We believe that creators will choose to sell NFTs on Origin over other aggregator platforms just like many e-commerce merchants have chosen Shopify or Woo Commerce over selling only on Amazon.
Secondary marketplaces are extremely important as they allow collectors to sell their NFTs for profit. For creators, they present an additional monetization opportunity as creators can opt to take a small transaction fee of secondary resales. 3LAU’s previous NFT sales have all appreciated in value since their initial launches, giving both the original collectors strong returns on their purchases and 3LAU ongoing revenue.
For example, 3LAU’s KINETIK audiovisual NFT has gone up almost 5x and was last sold at $15,699.69 after being originally sold for $3333.33. In an even more extreme example, one of the producer’s album artwork NFTs that originally sold for $99 was recently last sold at $2,222.21.
Bringing crypto-centric commerce mainstream
NFTs are already growing at an explosive pace and represent one of the most exciting facets of crypto-centric commerce. NFT sales recently crossed $100 million in the last 30 days, and there are no signs that this explosive growth trajectory will slow down.
Earlier this month, Hashmasks generated over $14 million in sales in just 5 days, and we expect the rate of NFT commerce to continue to increase. That being said, the number of net buyers for NFTs is still fairly low. There are still only several thousand active NFT collectors today that are mostly treating NFTs as scarce audiovisual art.
However, with the new uses outlined above and the backing of mainstream celebrity influencers and creators, we believe there is a near-term tipping point that will bring NFTs to the mainstream. 3LAU currently has 5 million followers across Spotify, Soundcloud, YouTube, Instagram, Facebook, and other platforms.
As more creators realize the massive monetization potential of NFTs and launch successful campaigns with Origin, millions of users that are currently fungible cryptocurrency holders will begin purchasing NFTs. Soon after, even mainstream users that have never participated in the cryptocurrency movement will want to take part in this new paradigm for interacting with and engaging with their favorite celebrities and influencers. Many of 3LAU’s existing fans will be introduced to cryptocurrencies by participating in the auction and receiving the Bronze Vinyl participation NFT even if they are not one of the top 33 winners. Note that the participation NFT is not redeemable.
Incumbents like Shopify and Woo Commerce are currently not invested in NFTs or blockchain technology other than allowing payment widgets that allow merchants to accept payments in cryptocurrencies. This presents a unique opportunity for Origin and other NFT-commerce companies to grow at explosive rates and build this new market from the ground up.
Participate in the 3LAU Ultraviolet Collection NFT drop that begins next week on February 26th at 3:00:00 UTC (2/25 at 7PM PST, 10PM EST) and runs for 48 hours. This will be a historic moment that enables the winning participants to be the very first owners of NFTs that can simultaneously be redeemed for physical products, unlock exclusive content, and gain access to premium experiences.
We also want to take this moment to thank 3LAU publicly. He has been an incredible partner in working with our product and engineering team to design a creator-first NFT platform. We are grateful to count this NFT pioneer and trendsetter as a partner, investor, and friend.
Learn more about 3LAU
Justin Blau, aka 3LAU, is a world-renowned musician and producer, best known for his chart-topping hits and unique DJ style. Starting small at college fraternity parties, 3LAU quickly rose to fame, performing at sold-out shows around the world. Today, he has amassed over 1 billion music streams across Spotify, Soundcloud, YouTube, and other platforms. Over 300 million streams are from his Ultraviolet Album. Justin is an early crypto adopter who consistently pushes the limits of what is acceptable in mainstream media. To date, he has sold over $1.1 million in primary sales from his NFT drops across his 3LAU, SSX3LAU, and SlimeSunday releases. He’s been an open advocate for tokenizing music and building the investable layer of music on blockchain technology. CoinTelegraph recently named him as its 93rd most Notable Person in blockchain for 2021.
Learn more about Origin:
- Participate in the 3LAU NFT auction: nft.3lau.com
- Launch your decentralized store: originprotocol.com/dshop
- Get Origin Dollars (OUSD): ousd.com
- Buy Origin Tokens (OGN): Binance, Huobi, Upbit, Bittrex Global
- Track OGN token metrics: originprotocol.com/dashboard
- Learn more on our company website: originprotocol.com