Steve Aoki and 3LAU create $1million NFT track for Jenny DAO

Jenny DAU has paid $1million for Steve Aoki and 3LAU to create an NFT track. It’s the first time The Jenny Token (uJENNY) has been involved in minting, with the token announced 16th May. The NFT itself is a 1/1 track, ‘Jenny’, and comes with accompanying visual art by Pieter Hergert. Minted on OpenSea it was then transferred via Unicly Protocol smart contract vault.

FIRST NFT FOR #JENNY DAO!

We got an unreleased song called “Jenny”, 1/1 by @steveaoki and @3LAU.

Visual art by @peiterhergert ✨

So excited to be part of Aoki and 3LAU’s first ever collab. ? #Jenny making history! https://t.co/dbaNHdfHov

— Jenny Metaverse DAO (@JennyMetaverse) May 16, 2021

Youtube link for “Jenny”: https://t.co/qZkYSslBew

Thanks @3LAU for uploading it for the community ?

— Jenny Metaverse DAO (@JennyMetaverse) May 18, 2021

Steve Aoki and 3LAU create NFT tracks, again

Both artists involved are among the biggest faces in the US dance music market, and well-established within the NFT space. Justin Blau, AKA 3LAU, made $11.6million via token auction between 25th and 28th February alone. The sale was to mark the third anniversary of his debut album, ‘Ultraviolet’. The record landed in 2018, the same year 3LAU launched Our Music Festival, the first blockchain powered music festival.

In March, Steve Aoki joined the ever-expanding list of music stars experimenting with NFTs. His debut brought in $4million in sales. Former T-Mobile CEO John Legere paid $888,888 for single token. This was then followed by ‘Neon Future by Steve Aoki and Maciej Kuciara’, a collaboration with the digital artist that dropped in April.

DAUs, DAUs, DAUs

The Jenny DAU, which owns the work, claims to be “the first Metaverse DAO and Social Token” on the Unicly Protocol. It’s overall purpose is the acquisition of NFTs for the smart contract vault. Jenny Token holders can instruct the vault to be unlocked, and parts of the collection released, as and when they pass set thresholds.

The premise for this — Decentralised Autonomous Organisation — has been around since 2015. One year later, the original DAO was famously hacked for around 3.6million ETH. This resulted in the token being delisted by digital exchanges in September 2016. The idea then spent some time in the background of mainstream crypto conversations, until recently.

During 2020 decentralised finance, or DeFi protocols, have experienced a huge surge in popularity. In turn, DAOs have also seen something of a renaissance, with many yield farming and decentralised exchange platforms reliant on this framework.