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Judge Orders Martin Shkreli “Pharma Bro” to Surrender Rare Wu Tang Clan Album

By Isaiah Mccall

Last Updated: Aug 27, 2024

Fact checked

By Sam Cooling

"Pharma Bro" Martin Shkreli and PleasrDAO are at it again over the sole copy of the Wu Tang Clan exclusive album Once Upon a Time ...

Wu Tang Clan is nothing to f’ with – and “Pharma Bro” Martin Shkreli found that out the hard way. Shkreli, a multi-millionaire investor, and PleasrDAO are at it over the sole copy of the Wu Tang album Once Upon a Time in Shaolin.

Shkreili obtained the album in 2015, but his securities fraud conviction in 2018 handed it over to the Feds. Fast-forward to 2021, and crypto group PleasrDAO tried to pick up the album for $4.75 million to give this musical unicorn a new life through NFTs.

Now, the battle for the Wu-Tang album seems finally over.

The tension began over the Wu Tang album when PleasrDAO threw the gauntlet at Shkreli, accusing him of hoarding digital versions of the Wu-Tang album post-seizure.

A federal judge laid down the law, demanding Shkreli hand over every last copy and certify his compliance in writing by the end of August.

“The Court issued a preliminary injunction as to Defendant Shkreli: enjoining him from possessing, using, disseminating, or selling any interests in the Album.” – Judge Chen

Shkreli’s legal team argues that the court’s order is a preliminary measure, not indicative of fault or wrongdoing. Edward Paltzik, Shkreli’s lawyer, maintains that the decision “has no bearing whatsoever on the final outcome of the case.”

“Crucially, the Court did not find that PleasrDAO is likely to succeed on the merits or that the DAO’s allegations are true,” said Paltzik

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Implications for the Music and Crypto Worlds

The album, recorded between 2007 and 2013, comprises at least 31 tracks and initially promised to be the only physical copy. PleasrDAO’s lawsuit seeks to enforce this exclusivity, aiming to prevent Shkreli from benefiting financially from the album.

(Tracklist/PleasrDAO)

As the courtroom spotlight shines on digital ownership in the age of blockchain, PleasrDAO’s crusade to redefine music rights through NFTs is both avant-garde and contentious.

Their fight to lock down the exclusivity of Wu-Tang’s 31-track marvel underscores the high stakes of this digital frontier as they seek to block Shkreli from riding the album’s coattails to profit.

Both PleasrDAO and Shkreli are bracing for a ripple effect that could redefine NFT and digital rights management, setting the stage for industry upheaval.

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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

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Disclaimer

Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

Isaiah Mccall
Isaiah Mccall
Crypto Analyst

Isaiah McCall is an ultramarathon runner and journalist for 99Bitcoins. He started at USAToday in 2019 and now has a Medium blog following of 30k+ and millions of views. Follow him at @AfroReporter Read More

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