Controversial rapper Azealia Banks and her artist boyfriend Ryder Ripps have sold an audio recording of their sex tape on the blockchain as an NFT for over $17,000, the proof of which is on the NFT marketplace Foundation.
The recording is 24 minutes long and has been acquired by Rulton Fyder, an anonymous artist who plays with artworks on the blockchain. There’s nothing innovative about a sex tape but this particular production is garnering attention for a unique reason: it is the first-ever adult tape sold as an NFT.
So, wait, how does this work again? — In simple words, an NFT is a non-fungible token, which means it cannot be replaced with another item. Conventionally, a bitcoin can be traded for another bitcoin, which makes the bitcoin fungible. An NFT is part of the Ethereum blockchain, and its format can be practically anything, including, yep, a sex tape. NFTs are being sold as songs, art, memes, GIFs, and in some cases, people are even offering to sell their deeply personal biometric data as NFTs with the hopes that the value of such artwork grows over time. The world of crypto-art is obsessed with the concept, and some artists are already making thousands of dollars off this rapidly growing economy.
Banks and Ripps' sex tape is perfectly purchasable on the blockchain as it is an audio recording. Initially, as Vice points out, Ripps listed the audio recording at 10.00 ETH on March 6, which converts to $17,240.40. It was picked up and bought by Fyder just nine hours after Ripps minted it. Now that Fyder owns the sex tape, the artist has full distribution and display rights plus access to the signed vinyl record of the "production."
"Upon purchase, a WAV file will be delivered to the buyer in addition to a 1 of 1 signed LP vinyl record. Full ownership, including limitless distribution and display rights are included in this sale," the recording's description reads on the NFT marketplace Foundation. "Don't miss out on this historic and sexy event."
This isn't the first time that Ripps has sold crypto-art on the blockchain; last week, the conceptual artist sold off the famous "Deal With It" shades for 15.00 ETH. That's $26,137. Clearly, Ripps likes making dough off crypto-art. For Banks, whose reputation is stained with criticism surrounding her transphobic and homophobic remarks, it’s yet another way to win the public’s attention. With hopefully less insensitivity this time.