PleasrDAO, a decentralized autonomous organization known for bringing together digital and physical arts,
PleasrDAO, a decentralized autonomous organization known for collecting digital and physical art, sharing ownership among DAO members, and donating to charitable causes, has filed a lawsuit against “pharmaceutical brother” Martin Shkreli.
The lawsuit was filed in response to Shkreli hosting an X Spaces event on June 9 and allegedly livestreaming what was previously believed to be a Wu-Tang Clan single album, acquired by PleasrDAO in 2021, to listeners in a virtual meeting room.
PleasrDAO now accuses Shkreli of causing undue harm to Pleasr, citing “significant and irreparable financial harm” in its official complaint:
“The album was intended to be the only existing copy of the recording, music, data, files and packaging. But it now appears that Shkreli improperly retained copies of the data and files at the time of seizure and made them public and/or intended to make them public.
“Such actions would cause PleasrDAO to suffer significant and irreparable financial harm, and would give rise to numerous claims for relief under the forfeiture order and the common law,” the complaint continues.
Shkreli denounced the lawsuit, saying PleasrDAO members were not in favor of filing the lawsuit and were not given the opportunity to vote on the lawsuit.
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In 2021, Wu-Tang’s album was acquired by PleasrDAO, Once upon a time in Shaolinfrom a forfeiture auction of assets worth approximately $4.75 million paid in two separate transactions.
Wu-Tang reportedly produced the album to counter the increasing digitalization and commercialization of music. They hope to bring music back into the world of high art and lift it from its current status as a mass-produced consumer good.
The album was previously owned by Shkreli, who paid $2 million for the one-of-a-kind recording. At the time, the album was apparently one of Shkreli’s most prized possessions. During an interview with Vice in 2016, Shkreli played part of the two-disc album Engraved in Gold. The Vice interview ended with Shkreli reflecting on what he would do with this unique recording in the future.
However, the former pharmaceutical company CEO was later forced to hand over the expensive album to authorities in 2018 after being convicted and sentenced for securities fraud.
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