The live album, which features a selection of singles recorded at 45rpm on a vinyl 33rpm-sized album, was launched in the Hocken Library foyer last night.
The set is limited to 150 copies worldwide and includes a 50cm x 50cm mixed-media diptych screen-printed by Palmerston North artist Shane Cotton with lyrics from the album and an insert signed by Chills frontman Martin Phillipps.
''The project was conceived at a New Year's Eve party in Queenstown 18 months ago.
''I think it's probably an investment more for Shane's art than the album at that price tag,'' Phillipps said.
He played a selection of old hits at the launch, including Pink Frost and The Male Monster From The Id, and new single Molten Gold.
''Listening to the words and lyrics blew my mind. It was very inspiring,'' he said.
''Two artists from different fields coming together for a moment. It was a creative coupling that seemed to fit in more ways than I could have imagined.''
The limited edition album set was the first of a series of music and art collaborations by Far South Editions.
The Chills formed in 1980 and went on to release a string of critically-acclaimed albums, including Kaleidoscope World, Submarine Bells and Soft Bomb.
The band continues to play, record and tour 33 years later.