Shinoda teased the release of the new song earlier this week on Twitch. With its release, he becomes the first major label artist to launch a single via NFT (non-fungible token) auction. After offering fans a snippet of the song, they were able to bid on the song with the final top 10 bidders receiving an original print of the single artwork signed by Shinoda and contemporary artist Cain Caser. Proceeds from the auction will benefit ArtCenter College of Design.
Listen to the song below. The official music video will be released soon.
Shinoda is the latest artist to hop on the NFT trend, where creators trade one-of-a-kind works for the special type of cryptographic token while retaining the art’s copyright. Recently, he created a digital art piece titled “One Hundredth Stream” using the NFT cryptocurrency.
The composition’s highest bid came in at 18,000 DAI, a stablecoin cryptocurrency that closely parallels the U.S. dollar — estimated to be around $18,000. Later that same day, Zora announced that Shinoda had accepted a bid equaling $30,000 (200 WETH), which the musician plans to donate to charity.