Dutch DJ Don Diablo has sold the first-ever concert NFT for $1.2million (ÂŁ874,572).
The hour-long live show, dubbed ‘Destination Hexagonia’, was created exclusively for the NFT (non-fungible token) auction through which it was sold for 600 Ethereum ($1.2m), DJ Mag reports.
Filmed over the course of one year, the project was made in collaboration with videographer Paul Snijder, boasting 3D-rendered characters, sets and green screen effects. It also incorporates sci-fi elements, drawing inspiration from the worlds of Star Wars and 2001 Space Odyssey.
“I always had that one dream in my head to one day combine all of these things that are haunting around my head, creating sort of a sci-fi film concert experience,” Diablo explained in a preview video (watch below).
The NFT was auctioned off as a one-of-one product, which will be delivered to the winning bidder on a unique USB stick containing a video file of the show.
âAt this point, we almost feel like this particular piece has become priceless because we worked on it for almost a year and put an incredible amount of love and effort into it,” Diablo added.
“Whatâs next? Iâve got some incredibly exciting collaborations lined up and I can not wait to share it with the world very soon, this is just the beginning.â
The DJ has also founded HEXAGON Foundation “in order to help artists in the NFT space”, with money made through the new auction being invested back into the foundation.
Don Diablo joins the likes of Megadeth, Kings Of Leon, Lewis Capaldi, Grimes, Lindsay Lohan, Aphex Twin, M.I.A, HMLTD and Tekashi 6ix9ine in embracing the non-fungible token (NFT) cryptocurrency.
- READ MORE: HMLTD on âLeavingâ â the first âever-evolving songâ with layers to be sold as NFTs
As NME explained in a recent blog, NFTs âact like digital gold bars, rare trading cards or paintings kept in safe storage â theyâre 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.â
Calvin Harris recently praised the new format, saying that NFTs had the potential to âcompletely revolutionise the music industryâ. He echoed comments made by Lindsay Lohan, who released her new single âLullabyâ as a non-fungible token and hailed the technology as âa great way to bridge the gap between the consumer and artistâ.
Nils Frahm, however, said that he believes NFTs to be âthe most disgusting thing on the planet right nowâ. Others have noted the cryptocurrencyâs apparent negative impact on climate change, with Gorillaz facing criticism over their âhypocriticalâ decision to enter the NFT market.
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