Time locked content release - Pleasr
Loading...ORIGINATED BY PLEASR
Pleasr DAO’s time-locked content release is a use case that illustrates an innovative model that exemplifies the potential of decentralized ownership and engagement in reshaping how valuable physical and digital art is distributed.z
Created by Wu-Tang Clan in 2014 as a protest against the devaluation of music, the album “Once Upon a Time in Shaolin” was sold to Martin Shkreli in 2015 for $2 million. After being seized by the U.S. government, PleasrDAO acquired the album in 2021 for $4 million. They then developed the time-locked release mechanism to allow participants to accelerate the album’s release through $1 purchases, each reducing the timeline.
This mechanism is ideal for DAOs, artists, and organizations seeking decentralized ownership and community engagement for rare assets. It suits projects looking to democratize access to exclusive content while maintaining its rarity. The approach allows even small participants to influence the release of valuable cultural works, making it particularly useful for projects with devoted fan bases or communities.
The Time-Locked Content Release uses token purchases to accelerate the album’s release date. Engagement is driven by a points system where users earn Wu Points via quests or token purchases (1 point per 0.01 ETH). These points determine a user’s Wu Rank on the leaderboard. Top-ranked participants gain increased voting power in PleasrDAO proposals. This approach balances accessibility and exclusivity, allowing broad participation while maintaining the album’s scarcity.
The Time-Locked Content Release mechanism begins with the album locked for an extended period of 88 years from its original sale date in 2015, setting the initial release for 2103. Fans can purchase encrypted digital copies for $1 each, with each purchase shortening the release timeline by 88 seconds. Buyers receive tradable $ALBUM tokens representing their digital copies. Tokens can be acquired through direct purchases, gameplay rewards, or community contributions.
To boost participation, the developers included additional engagement layers in the system. Participants can mint commemorative items and earn points (Wu Scores) based on their contributions. Top contributors receive extra benefits, such as private event access. The initial release timeline was backfilled to account for the time that has passed since the asset’s original sale in 2015.
As community involvement increases, the release timeline shortens. When the timeline finally reaches zero, the content is released to all token holders, completing the decentralized unlocking process. This creates a dynamic where the community’s actions directly reflect the perceived value of the music, transforming a passive waiting period into an active, community-driven experience.
Unlike traditional time-locked releases, this mechanism allows the community to actively influence the release timeline.
It enables partial ownership of valuable physical artifacts through digital tokens.
The mechanism respects the original intent of limited access while allowing broader participation.
Community actions directly reflect the perceived value of the content, creating a dynamic interplay between accessibility and rarity.
It updates the concept of limited-access art for the digital age, addressing modern discussions about the value of creative works.