Shigga Shay’s Spacebars NFT collection exceeded expectations when it sold out in less than 5 minutes. The collection consists of three series (Stellar Swinging, Cosmic Cartwheels, and Far Out Floating), with each containing a different part of a rap verse. Based on the cover of his 365 EP released in 2020, the animated artwork features a cartoon astronaut designed by visual artist Ebao and animated in 3D by American digital creative agency Wild Portals. There are 3 different card designs, each featuring a different portion of the freestyle. Within each design, there are 3 different levels of rarity to pursue: Common, Rare and Ultra. If you were lucky enough to collect all 3 different designs (regardless of rarity) you would then unlock the legendary card with the full 16-bars freestyle embedded inside.
Each NFT was initially listed at $40 USD (S $54) through crypto-currency exchange Crypto.com. The entire series collected an estimated $39,960 USD in sales. All of the 999 issued NFTs were snapped up upon their release on Wednesday, April 13. The value of the NFTs are expected to rise in the secondary market and are already listed at over $2,000 USD for some Ultra Rare editions.
Shay explains: “NFTs are going to change everything about the way the world works. I’m just excited to be exploring the possibilities of how NFTs will change the music industry. The countless opportunities it creates for artists and musicians are remarkable. It’s an amazing tool to build community engagement, to reach and connect with your audience like never before.”
If you’d like to know more about music NFTs read our interview with Tai-Ku Chen CEO of music NFT platform Fansi.