Blockchain-based music investment platform Royal launched in January Let fans invest in hip-hop legend Nas’ music on the platform by buying shares in the royalties earned by streaming two of his tracks.
According to Royal, the Nas auction sold out in minutes and generated over $500,000 primary sale.
Today Royal, which was co-founded by Justin Blau, aka musician and producer 3LAU, announced that Diplo is the next artist to team up with Royal to sell shares of its streaming royalties to Royal.
In a blog post published yesterday (March 24) by 3LAU, he writes that Royal will be collaborating with Higher Ground, the deep house imprint of Diplo’s own label Mad Decent.
Diplo will release Don’t forget my lovethe first single from his recently released self-titled album on Royal, on Tuesday, March 29 at 6pm ET / 3pm PT.
According to 3LAU, “fans will be able to own rights” to Diplo’s music by purchasing Limited Digital Assets (LDAs). 3LAU says these LDAs are “tokens with music rights embedded in them.”
Token holders not only get a share of the royalties earned by streaming the title, but also access to exclusive content and other benefits that vary depending on the tier purchased.
Like the Nas auction in January, Royal is offering three different tiers for fans looking to invest in Diplo’s music.
Starting at $99, Gold Tokens give buyers “0.004% ownership of streaming royalties,” as well as access to the collectors channel on Royal’s official Discord, according to the 3LAU post. There are 2,000 gold tokens available.
Platinum tokens, of which only 100 will be sold, give buyers “0.05% ownership of streaming royalties” for $999. Some of the extras included with the purchase of a Platinum token include All Gold extras, as well as an exclusive DJ mix and “first dibs on next diplo drop on royal”.
Finally, the Diamond tier gives buyers “0.7% ownership of streaming royalties.” There are only 10 Diamond tokens available and they cost $9,999.
Perks included with the purchase of any of these Platinum Tokens include All Gold and Platinum Perks, as well as access to Diplo’s guest list at a show of the purchaser’s choice, including a meet-and-greet with Diplo, and “first share of all future Diplo.” -Drops”. Royal”.
Royal’s auctions follow those of the company $55 million round of funding in November, which was funded by artists such as The Chainsmokers, Nas, Logic, Stefflon Don, Kygo, Joyner Lucas and Disclosure.
“Our goal with Royal is to give artists the power to stay in control of their work while advancing their careers.”
In the blog post announcing the Diplo auction, 3LAU writes: “Our goal with Royal is to give artists the opportunity to remain in control of their work while advancing their careers.
“We believe that when fans have the opportunity to directly support their favorite musicians through shared ownership, they create a deeper connection and help artists achieve that creative independence.
3LAU adds: “We are still at the very beginning. We’ve done three drops since January – all of which have sold out – starting with hip-hop legend Nas as the first featured artistfollowed by two great independent artists, verite (February) and Olli (March).
“We’ve seen so much excitement and felt a lot of energy from people who want to see change in the music industry and want their financial support to go straight to the artists. It’s clear that people are passionate about our work in changing the music industry for the better.”
music business worldwide
https://www.musicbusinessworldwide.com/diplo-is-the-latest-artist-to-let-fans-buy-shares-in-his-streaming-royalties-on-55m-backed-nft-platform-royal12/ Diplo is the latest artist to let fans buy shares of his streaming royalties on $55 million-backed NFT platform Royal