Megadeth have become the latest act to get involved with the growing NFT craze, announcing a new “one-for-one” token.
The metal outfit join the likes of Kings Of Leon, Lewis Capaldi, Grimes, Lindsay Lohan, Aphex Twin, M.I.A, HMLTD and Tekashi 6ix9ine in embracing non-fungible tokens (NFTs), a new form of cryptocurrency.
Yesterday (April 7) the band shared the news of their team-up with the digital collectibles marketplace Rarible, through which a “one-for-one token” called ‘Vic Rattlehead: Genesis’ will be auctioned off.
The moving graphic depicts the spinning skull of Megadeth’s animated mascot Vic Rattlehead beneath the band’s logo. From the preview, it appears that the NFT does not feature any audio content.
The world’s first Megadeth NFT has arrived.
— Megadeth (@Megadeth) April 7, 2021
At the time of writing, the current bid is at $519.38 (£378). The auction ends this coming Monday (April 12) – you can find more information here.
As NME explained in a recent blog, NFTs “act like digital gold bars, rare trading cards or paintings kept in safe storage – they’re kept on the blockchain (basically a Cloud for financial assets, but where everyone with an account keeps a note of what you own) in your name but you can only sell or trade them as collectibles.”
Calvin Harris recently praised the new format, saying that NFTs had the potential to “completely revolutionise the music industry”. He echoed comments made by Lindsay Lohan, who released her new single ‘Lullaby’ as a non-fungible token after hailing the technology as “a great way to bridge the gap between the consumer and artist”.
Nils Frahm, however, said that he believes NFTs to be “the most disgusting thing on the planet right now”. Others have noted the cryptocurrency’s apparent negative impact on climate change, with Gorillaz facing criticism over their “hypocritical” decision to enter the NFT market.
Meanwhile, Megadeth’s Dave Mustaine has revealed he only has “one song left to sing” for Megadeth‘s upcoming new album. “Other than that, all the vocals are done on this record,” he added.