The Rumours track reentered the charts last fall after appearing in the popular TikTok clip. But due to rights issues, the tune will not be included in the upcoming NFT (non-fungible token) sale of the original video, which shows Nathan “Doggface” Apodaca lip-synching the soft-rock single while cruising on a longboard and drinking Ocean Spray juice.
Complex reports that the auction will launch on Friday, with a minimum bid set at $500,000 as part of a partnership with WEBB Blockchain Media/Crypto Cake TV. Apodaca’s manager confirmed that the sale will help fund a new event center in his hometown of Idaho Falls, Idaho.
Along with not including “Dreams,” there’s one other catch for the prospective buyer: The Ocean Spray logo will be blurred.
The NFT acronym has appeared in numerous headlines in recent weeks — particularly after Twitter founder Jack Dorsey announced plans to sell the site’s first-ever tweet (“just setting up my twttr”), originally posted on March 21, 2006. The current highest bid is $2.5 million, and the sale runs until March 21. Dorsey announced he would convert the proceeds to Bitcoin and donate to Give Directly’s Africa Response.
Earlier in March, Kings of Leon became the first band to release an album, When You See Yourself, as an NFT. Digiday recently published an exhaustive NFT breakdown, writing, “They act as a non-duplicable digital certificate of ownership for any assigned digital asset. Basically, it is a smart contract that is put together using bits of open source code, which anyone can find from platforms like GitHub, and used to secure that digital item. Once the code is written, it is then minted, or permanently published, into a token.”
Tweets, jpegs, gifs and videos are all popular forms, but as Digiday notes, “really any digital asset” could become an NFT. “Once the NFT is purchased,” it adds, “the owner has the digital rights to resell, distribute or license the digital asset as they please.”