The first MEGADETH non-fungible token (NFT) has sold for 8.4 ETH, or roughly $18,000 at purchase. The piece, dubbed “Vic Rattlehead: Genesis”, features the MEGADETH logo and the band’s iconic mascot revolving in opposite directions for six seconds.
NFTs are a type of digital asset where ownership is recorded on a digital ledger blockchain. Each NFT is unique and can be viewed as a collectible that cannot be duplicated, making them singular and potentially valuable. NFTs can represent digital files, such as art, audio, videos, posters, album art and other forms of creative work.
Most NFTs are a part of the Ethereum blockchain, meaning that they are bought and sold using Ether, a major cryptocurrency.
A recent report by NonFungible.com, an NFT market analyst firm said that: “The non-fungible token (NFT) market tripled in 2020, with the total value of transactions increasing by 299% year on year to more than $250m, according to a new study released by NonFungible.com. Developed with support from foresight business L’Atelier BNP Paribas, the report — the third annual study of the NFT market — finds that NFTs are primed to become a leading emerging asset class for the Virtual Economy in the years ahead, both in terms of their financial value and their practical uses, and a major driver of economic activity in virtual worlds.”
MEGADETH is currently putting the finishing touches on the follow-up to 2016’s “Dystopia” album.
The early sessions for the LP took place in 2019 with co-producer Chris Rakestraw, who previously worked on “Dystopia”.
“Dystopia”, whose title track was honored in the “Best Metal Performance” category at the 2017 Grammy Awards, marked Brazilian guitarist Kiko Loureiro‘s recording debut with MEGADETH.
MEGADETH‘s current lineup is rounded out by guitarist/vocalist Dave Mustaine, bassist David Ellefson and Belgian-born-and-now-Los-Angeles-based drummer Dirk Verbeuren, who had played with SOILWORK for more than a decade before joining MEGADETH.