Martin Shkreli, the former pharmaceutical executive infamous for his price-gouging tactics, has found himself in the midst of a peculiar situation involving a rare Wu-Tang Clan album. The story is as bizarre as it is intriguing, involving a secret album, a federal auction, and a hip-hop legend.

The Secret Album

Back in 2014, it was revealed that Wu-Tang Clan had been secretly working on a new album titled ‘Once Upon a Time in Shaolin’. The album was recorded over a period of six years, and it featured all surviving members of the legendary hip-hop group. The twist? Only one copy of the album was produced, making it the rarest album in the world.

Martin Shkreli’s Purchase

Fast forward to December 2015, when Martin Shkreli made headlines for purchasing the sole copy of ‘Once Upon a Time in Shaolin’ for a staggering $2 million. Shkreli, who was already under fire for his role in price-gouging life-saving drugs, was met with widespread criticism for his extravagant purchase.

The Federal Auction

Shkreli’s ownership of the album was short-lived, as he was arrested in December 2015 on fraud charges. As part of his legal troubles, the album was seized by the government and put up for auction to help pay off the $7.4 million he owed in restitution. The auction was set to take place in December 2018, but it was postponed due to a lack of bidders.

The Auction’s Unusual Terms

The auction’s terms were as unusual as the situation itself. Potential bidders were required to submit a written offer that included their name, address, and the amount they were willing to pay for the album. The minimum bid was set at $1, with no maximum limit. The winning bidder would receive the album, as well as the rights to commercially exploit it. However, the Wu-Tang Clan would retain the copyright to the music, meaning they could theoretically block any future commercial use of the album.

The Winning Bidder

After months of anticipation, the winning bidder was finally revealed in July 2019. The buyer was none other than the pharmaceutical company, PleasrDAO, who purchased the album for $4 million. The company’s purchase was made in partnership with crypto collective PleasrDAO, and the album is now stored in a vault at an undisclosed location.

The Album’s Future

So, what’s next for ‘Once Upon a Time in Shaolin’? The new owners have stated that they plan to make the album available for free online streaming, allowing fans to finally hear the elusive album. However, it remains to be seen whether the Wu-Tang Clan will attempt to block this move, given their retained copyright over the music.

Conclusion

The saga of ‘Once Upon a Time in Shaolin’ is a testament to the power of music and the lengths people will go to own a piece of history. As the album’s future remains uncertain, one thing is clear: the world is eagerly awaiting the chance to hear this secret Wu-Tang Clan album. Will you be tuning in when it becomes available? Let us know in the comments!

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