Late Singer S P Balasubrahmanyam's Last Unreleased Song To Be Auctioned As An NFT
Music fans, digital art collectors, and fans of legendary playback singer late S P Balasubrahmanyam will now be able to own his final unreleased song. On April 9, Diginoor, a non-fungible token (NFT) platform, will auction a 30-minute recording by the late singer. The legal rights to sell and release the song as an NFT belong to Diginoor. The singer had recorded the album Vishwaroopa Darisanam in collaboration with the music label, Symphony Records. The unreleased Tamil track was the late singer's last devotional track, which he had recorded just weeks before his death in September 2020 due to complications arising from COVID-19.
Pre-bid offers on the platform are already touching $2,00,000 (approximately Rs 1.5 crores).
With the launch of the NFT, Diginoor aims to transfer 51 percent of the copyright to the winning bidder. This would give the NFT holder the right to make the song available to a wider audience, as well as the ability to adapt or reproduce it.
In a tweet on its official handle, the start-up stated, “Did you know that our launch of the Music NFT of Late legendary singer, SPB is the first of its kind as the holder not only gets access to the full 30-minute track but most importantly also gets 51 per cent of all copyrights of this masterpiece through the NFT.”
S P Balasubrahmanyam was a Padma Shri, Padma Bhushan and Padma Vibhushan awardee. He had also received six national awards. Throughout his musical career, he has recorded over 40,000 songs in 16 languages.
Shaamil Karim and Yash Rathod, two Chennai-based entrepreneurs, launched Diginoor. It's an NFT marketplace for entertainment. Digital collectibles of Rajnikanth's films such as Sivaji The Boss, Chandramukhi, and Kabali have been released on the platform.
Diginoor is the first platform in the country to accept debit and credit cards for NFT purchases. Among those who back Diginoor include Kunal Shah of Cred, Abdul Wahab Al Halabi, ex-CEO of Dubai Holding, California-based Contrary Capital, and Sandeep Nailwal of Polygon.
