PleasrDAO, a decentralized autonomous organization (DAO) known for collecting digital and physical art, is accusing Martin Shkreli, the controversial former pharmaceutical executive, of copyright infringement and misappropriation of trade secrets.
The lawsuit stems from a livestream Shkreli hosted on the platform X Spaces on June 9th. PleasrDAO alleges Shkreli played portions of “Once Upon a Time in Shaolin,” a one-of-a-kind Wu-Tang Clan album they acquired for a staggering $4.7 million in 2021.
According to PleasrDAO, Shkreli never had legal ownership of the album’s audio files after the forfeiture and sale. They claim Shkreli must have retained copies and is now attempting to distribute them, significantly diminishing the album’s value as a unique collectible.
The lawsuit seeks to prevent Shkreli from further dissemination of the album and demands he destroy any copies in his possession. Additionally, PleasrDAO is requesting compensation for damages caused by the alleged copyright infringement.
A federal court judge issued a temporary restraining order on June 11th, barring Shkreli from sharing the album. A hearing to determine a permanent injunction is expected later this month.
This lawsuit highlights the complexities surrounding ownership and distribution in the digital age. PleasrDAO’s case hinges on the concept that owning a unique digital asset like this album extends beyond just physical possession to encompass the data and files themselves.
The outcome of this case could have wider implications for the ownership of digital collectibles and the legal boundaries for DAOs operating in the art world.
