Wu-Tang Clan’s one-of-one album Once Upon A Time In Shaolin went through some big changes this year. It was formerly in the hands of sole owner Martin Shkreli, but now belongs to the digital art company PleasrDAO. It will technically be released as partial NFT buys. Now, according to Billboard, the court has sided with Pleasr and ordered Shkreli to hand over any existing copies he has of the project. In 2021, authorities seized the LP to account for the former pharmacy executive’s $7.4 million judgement in a securities fraud case. But he kept livestreaming it and boasting about the extra copies that he made.
This move from the court is to preserve the rare Wu-Tang Clan album’s one-of-one status and to punish Martin Shkreli for violating the original purchase terms and forfeiture order. Authorities barred him from “possessing, using, disseminating, or selling any interest in the album.” Per court documents, this is the same for “its data and files or the contents of the Album, or in any way causing further damage to Plaintiff respecting the album.” Shkreli must “sequester and turn over all of his copies, in any form” by August 30. He has until September 30 to file an affidavit detailing the “information regarding alleged copies of ‘Once Upon a Time In Shaolin,’ people he might’ve given them to, and any money he might’ve made from distributing or playing the album.”
NEW YORK, NY – APRIL, 1997: (L-R) U-God, Method Man, Raekwon, GZA, Ghostface Killah, Masta Killa, RZA, Ol’ Dirty Bastard of the American rap group Wu-Tang Clan pose for a portrait circa April, 1997 in New York, New York. (Photo by Bob Berg/Getty Images)
In other Wu-Tang Clan news, here’s what Method Man had to say about OUATIS. “I thought it was some circus spectacle,” he told Vanity Fair. “I never really spoke to RZA about it. It’s an uncomfortable subject to most of the guys, so we don’t really discuss it too much. The process of the thing being made was never told to us. We were never told what it was. We were recording and being paid to do a certain amount of records.”
“[Cilvaringz] put them altogether into a compilation of Wu-Tang songs and marketed it as a Wu-Tang album,” Method Man continued. “A single copy of a Wu-Tang album. We all had a problem with it because that’s not how it was described to us.”
However, even after the body of work was purchased by digital art company PleasrDAO, Shkreli seemed to still have access to the recording as heard in his past livestreams.
Now, a judge has supposedly ruled in PleasrDAO’s favor. In order to retain its one-of-one nature and enforce punishment over Shkreli’s violation of the original purchase agreement terms and forfeiture order, he has been prohibited from “possessing, using, disseminating, or selling any interest in the album.”
In court documents, this also applied to “its data and files or the contents of the Album, or in any way causing further damage to Plaintiff respecting the album.”
Shkreli has until Friday, August 30 to “sequester and turn over all of his copies, in any form.” The court has also required Shkreli to file an affidavit disclosing the “information regarding alleged copies of ‘Once Upon a Time In Shaolin,’ people he might’ve given them to, and any money he might’ve made from distributing or playing the album.” But he has until September 30 to submit that filing with the courts.
Wu-Tang is for the children and now apparently law-abiding citizens.
Once Upon a Time In Shaolin is a rare piece of hip-hop history. The album was recorded over the course of six years, and features every living member of the Wu-Tang Clan. Crucially, only one copy of the album exists. It was sold for a staggering $2 million in 2015, with the caveat that the album cannot be played in public until 2103. Cool in concept, but the Once Upon a Time In Shaolin story has been marred by issues with legal loop holes and the guy who bought it. The album is now considered a polarizing release by Wu-Tang, instead of a seminal one. Method Man shed light on this transformation during a recent interview with Vanity Fair.
Method Man admitted the album is a sore point for the group. He also revealed that he was never fully onboard with the concept. “I thought it was some circus spectacle,” he explained to the outlet. “I never really spoke to RZA about it. It’s an uncomfortable subject to most of the guys, so we don’t really discuss it too much.” The reason for the discomfort stems from the way in which is was made. According Method Man, the group, besides RZA, was not let in on the rollout plan. As far as they were concerned, they were making a standard Wu-Tang album for release. “The process of the thing being made was never told to us,” he said. “We were never told what it was. We were recording and being paid to do a certain amount of records.”
Method Man Felt Like He Was Lied To During Recording
NEW ORLEANS, LOUISIANA – APRIL 28: Method Man (C) of Wu-Tang Clan performs on Day One of 2023 New Orleans Jazz & Heritage Festival at Fair Grounds Race Course on April 28, 2023 in New Orleans, Louisiana. (Photo by Erika Goldring/Getty Images)
The disconnect between the plan, and the recording process, is what has stayed with Method Man. He doesn’t look fondly upon Once Upon a Time In Shaolin as a result. “[Cilvaringz] put them altogether into a compilation of Wu-Tang songs and marketed it as a Wu-Tang album,” he stated. “A single copy of a Wu-Tang album. We all had a problem with it because that’s not how it was described to us.” This isn’t the first time Method Man has spoken out against the single copy rollout. He called out Cilvaringz and RZA during a June interview with XXL. He went as far as to call the 88-year commercial ban against the album “stupid.”
“F*ck that album,” Method Man asserted. “When music can’t be music and y’all turning it into something else, f*ck that. Give it to the people.” The veteran rapper urged RZA to give Once Upon a Time In Shaolin for free, so Wu-Tang fans can enjoy it in their lifetime. RZA did not take the bait. The Wu-Tang leader told Method Man that the commercial ban was necessary to maintain the “integrity” of the album. He wanted to ensure it wasn’t seem as a gimmick. Ironically, it has become just that.
The Wu-Tang Clan is arguably the most influential and magnanimous hip-hop group of all time that ranks almost as high on all-time music group lists. As such, it’s no surprise that they can get away with some truly historic, controversial, and above all unique ideas. Moreover, they just “released” their album Once Upon A Time In Shaolin via the record’s current owner Pleasr, who also announced that the album would have various listening parties around the world. However, if you are unfamiliar with this mythical album from the Wu, then you have some catching up to do before considering a purchase.
Furthermore, this is a pretty long and complicated story, but basically, the Wu-Tang Clan revealed a single physical copy of the album Once Upon A Time In Shaolin with no digital equivalents in 2015, meant to be in the hands of a single buyer. Former pharma tycoon and societal villain Martin Shkreli bought it for $2 million, but he wasn’t allowed to reproduce the album, share it, or profit from it until the year 2103, per the stipulations in their contract. After Shkreli’s arrest for security fraud, the project fell into the U.S. government’s hands as the result of an asset seizure.
Then, the NFT company PleasrDAO bought the album in 2021 for about $4 million, and didn’t do much with it until these new agreements to host limited listening parties of partial parts of Once Upon A Time In Shaolin. In addition, new negotiations with the Wu-Tang Clan also resulted in the album’s partial release as an NFT, with each $1 USD purchase yielding a five-minute snippet from the LP. Each individual purchase apparently “speeds up” the wide commercial release date of 2103 for the album. As you might imagine, it’ll take a lot of purchases to “unlock” the mythical project.
But if you want to hear a bit of Once Upon A Time In Shaolin for a dollar, check out the tweet above. There’s also more lore to learn about the album, such as PleasrDAO’s current legal battle against Martin Shkreli for playing unauthorized copies of the project. Overall, it seems like a massive but respectably honor-bound hassle to go through for a record. But it’s the Wu-Tang Clan; haven’t they earned that legend status?
On a trip to Egypt in 2004, the RZA first ideated a new Wu-Tang Clan album that would deservedly treat music as high art, not as a commodity to create and distribute quickly and on a dime. By the time the LP Once Upon A Time In Shaolin “came out” in 2015, following almost a decade of studio sessions with the whole Wu, the project became a more pertinent experiment and statement amid streaming’s rising devaluation of music. He and producer Cilvaringz worked heavily on recreating that gritty sound from the 36 Chambers days, compiling verses from every surviving member of the rap group plus some extra names like Redman and Cher.
So when 2015 rolled around, and the album released as a unique physical copy with no digital equivalent, the idea was to tour it around museums, listening events, and the like before landing on a single buyer. Wu-Tang Clan members like Ghostface Killah, Method Man, and Raekwon all voiced their grievances over remaining in the dark on this release strategy. Despite the internal conflicts of the group, Once Upon A Time In Shaolin stuck to this approach, and its legacy continues to champion this idea, albeit in an altered manner, to this day. But it definitely went through many obstacles to find itself in 2024, and will likely face more. But where did this all start?
Once Upon A Time In Shaolin entered the steep marketplace with some legal stipulations: its eventual owner would not be able to release or profit off of the album until 2103, 88 years after its release. About 150 art aficionados, critics, and art dealers heard the album at a MoMA listening session in 2015, and auction house Paddle8 searched for a buyer. This was more of a compromise when compared to the original vision for this Wu-Tang Clan album to tour the world in a briefcase. Alas, they eventually found the project’s buyer, which opened up a notorious can of worms.
Martin Shkreli Buys The Wu-Tang Clan’s Album In 2015
In 2015, hedge fund head and infamous “pharma bro” Martin Shkreli bought the album at an auction for $2 million. This wasn’t just controversial based on the presumptuous image that he represented as Once Upon A Time In Shaolin‘s owner, but also because of his actions elsewhere. A big narrative around this sale was that Shkreli had raised the price of the anti-parasitic drug Daraprim, for AIDS treatment among other uses, by 5,000%. He promised to leak the album if Donald Trump became U.S. President in 2016, yet upon his election, he only played some snippets here and there and shared them online across various platforms. Shkreli also boasted about playing the album for partners and colleagues, and this obviously caused a stir in the Wu-Tang Clan camp.
How Did The Wu Respond To Shkreli?
The RZA claimed ignorance of Martin Shkreli’s moves to raise Daraprim’s price before they finalized the purchase. In fact, the group apparently donated much of the proceeds behind the sale to charities supporting cancer treatment and other medical efforts to circumvent high pharmaceutical costs. While he defended Shkreli’s right to purchase the album as a hip-hop fan and appreciator of art, others weren’t so keen. Ghostface Killah got into it with the “pharma bro,” resulting in some back-and-forth diss videos in which Shkreli played more of the album. Method Man also spoke on feeling blindsided and at odds with Once Upon A Time In Shaolin in 2017, and others like Raekwon spoke of their differences in the years since.
In 2017, a court convicted Martin Shkreli on federal charges involving security fraud, and while he tried to sell the album on eBay before his imprisonment and 2018 sentencing to seven years, Once Upon A Time In Shaolin became one of the assets that the court seized as part of a $7.3 million forfeit. The Wu-Tang Clan’s album fell into the hands of the U.S. government, and Ghostface Killah and Raekwon were among those who blasted Shkreli after this arrest. But the question of what would happen to the album remained a mystery… until 2021.
Pleasr Takes Over
there are a lot of beautiful ideas of what this art can be and how it can expand itself in the world and have a life of itself — the possibilities are there now.” – RZA
In July 2021, the U.S. Department of Justice announced the sale of Once Upon A Time In Shaolin in its continued asset seizure of Shkreli. The buyer was later revealed as NFT company PleasrDAO, who bought the Wu-Tang Clan project for $4 million. This doubled its value but still left its future as an uncertain sea of speculation.
On June 10, 2024, PleasrDAO filed a lawsuit in Brooklyn federal court against Martin Shkreli for allegedly playing unauthorized copies of Once Upon A Time In Shaolin since 2021 that breached the terms of his forfeiture order. Not only that, but the company claimed that he boasted about this practice on social media. Shkreli blasted this lawsuit attempt online, calling PleasrDAO “super nerds” that displayed a “lack of diligence” in their arguments.
Once Upon A Time In Shaolin Is Slowly Becoming A Reality… Right?
Apparently, this did not halt Pleasr’s efforts to get the album out to the public little by little… and on their terms. Earlier this June, New York City’s oldest synagogue held a listening event for bits of the album (not in its entirety), and the company announced that the Museum of Old and New Art in Tasmania would host 30-minute listening events playing select Once Upon A Time In Shaolin cuts twice daily as part of its “Namedropping” exhibition, running from June 15 to June 24. Not only that, but they also reportedly launched five-minute snippets from the Wu-Tang Clan album as NFTs, as part of a reported agreement to “unlock” the album by speeding up the timeline until October 8, 2103 by 88 seconds with each purchase. Will it generate the $28 million necessary to put all the pieces together? Time will tell…
Remember NFTs? It’s okay if you don’t — no one should — but, apparently, no one told PleasrDAO, who now owns Wu-Tang Clan’s one-of-one album, Once Upon A Time In Shaolin. You should remember this; the album was recorded in secret over six years, pressed onto one CD copy in 2014, and auctioned for an extravagant amount of money to a person who even RZA regretted giving access to it.
As predicted back when the group of self-declared “DeFi leaders, early NFT collectors, and digital artists” was first revealed to have bought the album from the US government at auction, PleasrDAO has turned the album into an NFT. A representative for the group told Rolling Stone upon its purchase, “This album at its inception was a kind of protest against rent-seeking middlemen, people who are taking a cut away from the artist. Crypto very much shares that same ethos. The album itself is kind of the O.G. NFT.”
According to Consequence, PleasrDAO figured out a loophole in the legal agreement that prevents the album from being commercially exploited until 2103 (of course they did). Each NFT purchase will purportedly speed up the countdown by 88 seconds, although as of now, only a five-minute sampler is available for $1. You can find more information below.
The world’s most expensive album is available for $1.
> Proceeds split with all artists involved in the making. > Art designed by famed artist & designer Hassan Rahim. > We will follow up with further details on airdrops to verified GME holders, holders of the commemorative Zora mint, and additional communities.
Our master plan is to release the music to the public in a way that honors the Wu-Tang Clan and gets them paid while circumventing the streaming oligopoly; every action we are taking is in service of that mission.
Martin Shkreli has responded to the company suing him over his prior ownership of the Wu-Tang Clan album, Once Upon A Time In Shaolin. When PleasrDAO explained on X (formerly Twitter) how they plan to give the public access to the unheard album, Shkreli told them to “eat a d*ck.” The company is suing Shkreli for allegedly copying and sharing the iconic one-of-one album, which they say diminished its value. Shkreli ended up forfeiting ownership of the project following his fraud conviction.
“Our master plan is to release the music to the public in a way that honors the Wu-Tang Clan and gets them paid while circumventing the streaming oligopoly; every action we are taking is in service of that mission,” PleasrDAO wrote on X. “Eat a d*ck, they got paid, multiple times,” Shkreli responded. “These super nerds are suing me,” he wrote in another post with laughing emojis. “The least crypto ethos, whitest, least culturally relevant dorks good luck!”
Martin Shkreli Leaves Court Following Guilty Verdict For Securities Fraud
NEW YORK, NY – AUGUST 04: Former pharmaceutical executive Martin Shkreli walks away from the U.S. District Court for the Eastern. District of New York after the jury issued a verdict, August 4, 2017, in the Brooklyn borough of New. York. City. Shkreli was found guilty on three of the eight counts involving securities fraud and conspiracy to commit securities and wire fraud. (Photo by Spencer Platt/Getty Images)
As for PleasrDAO’s lawsuit, the company is seeking $2 million in damages, according to court documents obtained by AllHipHop. “The album was supposed to constitute the sole existing copy of the record, music, data and files and packaging,” their lawyers wrote in the filing. “It now appears, however, that Shkreli improperly retained copies of the data and files at the time of the forfeiture and has released and/or intends to release them to the public. Such actions would cause PleasrDAO to incur significant monetary and irreparable harm, and give rise to numerous claims for relief under the forfeiture order and common law.”
Martin Shkreli Fires Back At PleasrDAO
eat a dick, they got paid, multiple times
— Martin Shkreli (e/acc) (@MartinShkreli) June 11, 2024
these super nerds are suing me the least crypto ethos, whitest, least culturally relevant dorks good luck! https://t.co/Qd7D77xcsd
— Martin Shkreli (e/acc) (@MartinShkreli) June 11, 2024
Wu-Tang ain’t nothing to f*ck with. And Martin Shkreli learned exactly what this means. Today (June 11), New York Post reported that art collective PleasrDAO is suing Shkreli after the notorious Pharmabro allegedly made copies of Wu-Tang Clan‘s Once Upon A Time in Shaolin album.
PleasrDAO claimed that they paid $4.75 million for a one-of-a-kind album by hip-hop group Wu-Tang Clan, however, that Shkreli made copies and shared the music to the public violates the terms of the purchase.
Shkreli purchased Once Upon A Time In Shaolin back in 2015 for $2 million, however, was later forced to give up the album to partially satisfy a $7.4 million forfeiture order after he was convicted of defrauding hedge fund investors and scheming to defraud investors in a drugmaker back in 2017. Shkreli was sentenced to seven years in prison, but was released early, and currently remains on supervised release.
According to the report, Shkreli held a “Wu tang official listening party” via online livestream this past Sunday (June 8). PleasrDAO claims that livestreaming the album “greatly diminishes and/or destroys the album’s value” and violates the forfeiture order. The collective is asking that Shkreli destroy his copies of Once Upon A Time In Shaolin, turn over profits from disseminating the music, and pay compensatory and punitive damages.
Once Upon A Time In Shaolin was pressed in 2015, and only one physical copy of the album was made. The album cannot legally be sold commercially or uploaded to digital streaming services until 2103, per an agreement with the purchaser, however, the album can be played at listening parties.
A series of listening parties for Once Upon A Time In Shaolin will take place in Hobart, Australia at the Museum Of Old And New Art from June 15–24.
New York’s own Wu-Tang Clan are about as essential to the history of hip-hop as anyone. Their legendary debut album Enter The Wu-Tang is still considered among the best in the genre’s entire history. In fact, the record landed on Apple Music’s recent countdown of the Top 100 Albums of all time. The album sits at number 37 on the list just a few spots ahead of Nas’ classic debut album Illmatic and a few spots behind Public Enemy’s It Takes A Nation Of Millions To Hold Us Back.
But it isn’t the only record in the group’s history that has achieved a legendary status. Their project Once Upon A Time is legendary for very different reasons, because almost nobody has heard it. The record has a bizarre story that many rap fans will be familiar with. It fell into the possession of notorious “Pharma Bro” Martin Shkreli where he claimed he would hold onto the record indefinitely. Due to his legal troubles it eventually ended up in the hands of art collective Pleasr. That’s how the record ended up on loan at a museum, where a select group of fans will be able to hear it. Check out the details of the museum and its newest exhibit below.
The record is on display in Tasmania and the Museum Of Old And New Art, shortened to MONA. It’s just one piece in an upcoming exhibition called “Namedropping.” Fans looking to see the rap group in a live setting could make the likely shorter trip to Las Vegas later this year. After getting rave reviews on a handful of performance they did in the city earlier this year, they recently announced two more shows for September.
What do you think of Wu-Tang Clan’s famous album Once Upon A Time In Shaolin being loaned out to a museum in Australia? How far would you travel for an opportunity to hear the legendarily secretive album? Let us know in the comment section below.
Martin Shkreli, often dubbed as “Pharmabro,” has remained a figure of controversy and fascination in the realm of finance and pharmaceuticals. Known for his unapologetic demeanor and penchant for stirring up public outrage, Shkreli’s journey from a young entrepreneur to a convicted felon has been nothing short of extraordinary. In 2024, amidst legal battles and business endeavors, the question arises: What is Martin Shkreli’s net worth?
Rise To Notoriety: Early Years & Pharmaceutical Ventures
NEW YORK, NY – AUGUST 04: Former pharmaceutical executive Martin Shkreli walks away from the U.S. District Court for the Eastern District of New York after the jury issued a verdict, August 4, 2017 in the Brooklyn borough of New York City. Shkreli was found guilty on three of the eight counts involving securities fraud and conspiracy to commit securities and wire fraud. (Photo by Spencer Platt/Getty Images)
Born on March 17, 1983, in Brooklyn, New York, Martin Shkreli demonstrated an early knack for entrepreneurship. He founded Elea Capital Management, a hedge fund, before venturing into the pharmaceutical industry. Shkreli gained widespread attention when, as CEO of Turing Pharmaceuticals, he acquired the rights to Daraprim, a life-saving drug for HIV patients, and hiked its price by over 5,000%.
His unapologetic defense of the price hike sparked outrage, earning him the infamous title of “the most hated man in America.” Despite the backlash, Shkreli’s move catapulted him into the spotlight, cementing his reputation as a shrewd businessman willing to push ethical boundaries in pursuit of profit.
Arrest, Conviction, & Legal Battles
NEW YORK, NY – DECEMBER 17: Martin Shkreli (C), CEO of Turing Pharmaceutical, is brought out of 26 Federal Plaza by law enforcement officials after being arrested for securities fraud on December 17, 2015 in New York City. Shkreli gained notoriety earlier this year for raising the price of Daraprim, a medicine used to treat the parasitic condition of toxoplasmosis, from $13.50 to $750 though the arrest that happened early this morning does not involve that price hike. (Photo by Andrew Burton/Getty Images)
However, a precipitous fall followed Shkreli’s meteoric rise. In 2015, FBI arrested arrested Shkreli on charges of securities fraud and conspiracy relating to his management of hedge funds and pharmaceutical companies. The case centered on allegations that he had orchestrated a Ponzi-like scheme to defraud investors.
In 2017, the court found him guilty on multiple counts of fraud and securities manipulation. The judge sentenced him to seven years in prison and ordered him to forfeit $7.36 million in assets. Despite his incarceration, Shkreli remained defiant, continuing to make headlines with his brazen behavior, including running his pharmaceutical company from behind bars.
WASHINGTON, DC – FEBRUARY 04: Martin Shkreli, former CEO of Turing Pharmaceuticals LLC., listens to questions during a House Oversight and Government Reform Committee hearing on Capitol Hill, February 4, 2016 in Washington, DC. Shkreli invoked his 5th Amendment right not to testify to the committee that is examining the prescription drug market. (Photo by Mark Wilson/Getty Images)
As of 2024, Martin Shkreli’s net worth is estimated to be atleast $15 million, according to GuruFocus. While significantly diminished from his heyday, this figure is a testament to Shkreli’s resilience and ability to navigate turbulent waters. Despite his legal troubles, Shkreli has continued to dabble in various ventures, including cryptocurrency investments and consulting for biotech companies.
Moreover, Shkreli’s notoriety has translated into lucrative opportunities, including speaking engagements and media appearances. Despite his polarizing reputation, he maintains a dedicated following of supporters who view him as a maverick entrepreneur persecuted by the system.
Conclusion
In conclusion, Martin Shkreli’s net worth in 2024 reflects a complex legacy marked by both triumphs and tribulations. From his controversial price hikes in the pharmaceutical industry to his subsequent legal battles and imprisonment, Shkreli’s journey serves as a cautionary tale about the perils of unchecked ambition and ethical lapses. Yet, amidst the turmoil, his enduring influence and net worth stand as a testament to his resilience and ability to defy expectations.
Pleasr (@PleasrDAO) 
