Eminem will share his first NFT (non-fungible token) collection, ‘Shady Con’, this weekend.
Yesterday (April 22), the rapper announced the launch of ‘Shady Con’ which will take the form of a digital festival which will give fans the chance to own an NFT collectable from Sunday (April 25), 11:30 BST (6:30 ET) on NFT marketplace Nifty Gateway. Eminem had teased the NFT earlier this week.
A description on Eminem’s website says the collection “will feature a variety of Eminem-approved NFT collectibles” as well as some “original instrumental beats produced by Slim Shady himself specifically for this release.”
It continues: “The tracks will be made available only as part of the limited-edition and one-of-a-kind NFTs…But this only scratches the surface of what’s coming this weekend!”
Watch a preview of the event here:
— Marshall Mathers (@Eminem) April 22, 2021
Speaking about the collection, Eminem said: “I’ve been collecting since I was a kid, everything from comic books to baseball cards to toys, as well as every rap album on cassette I could get my hands on.
“Not much has changed for me as an adult…I’ve attempted to re-create some of those collections from that time in my life, and I know I’m not alone. I wanted to give this drop the same vibe of, ‘Oh, man I gotta get just that one or maybe even the whole set!’ It’s been a lot of fun coming up with ideas from my own collecting passion.”
A description on Eminem’s website added: “Shady Con” provides Stans, fans, NFT enthusiasts and collectors one opportunity to own a piece from this premier drop. Born from the convergence of blockchain technology, creative enthusiasm, and pandemic doldrums, this drop was inspired by Eminem’s passion as a vintage toy, comic book and trading card collector that traces back to his childhood days as just ‘plain old Marshall.’
“Make no mistake, this is a digital festival…but it’s [modelled] after the traditional ‘Con’ gatherings where fans come together and trade their wares. You may not be able to get together with thousands of Stans in a poorly ventilated convention [centre] somewhere on the outskirts of 8 Mile Rd., but this weekend you can rub elbows with each other on Nifty Gateway and own a piece of the collectible, non-fungible action!”
Last week, a sketch from Saturday Night Live used one of Eminem’s songs in a parody to explain the current NFT craze.
In the sketch, broadcasted last month, SNL regular Pete Davidson and Jack Harlow used Marshall Mathers’ hit ‘Without Me’ to explain the idea behind NFTs to viewers.
NFTs have been in the news a lot recently, with the music industry and artists such as Grimes, The Weeknd, Kings Of Leon getting involved in the craze. Speaking recently about the NFT craze, Calvin Harris said that the cryptocurrency form has the potential to “completely revolutionise the music industry”.
An NFT, as NME‘s Mark Beaumont explained recently in a blog, is a form of cryptocurrency asset. Most cryptocurrencies are fungible (or ‘spendable’) tokens; you can exchange them for other cryptocurrencies or spend them on goods where they’re accepted.
“Non-fungible tokens 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,” he wrote.