Hip-hop icon Nas has partnered with blockchain-based music investment platform, Royal, to give fans the opportunity to gain streaming rights to his tracks ‘Ultra Black’ and ‘Rare,’ which are off his ‘Kings Disease’ and ‘Kings Disease II’ albums. The innovative NFT deal will see the Queens rapper become the first-ever artist to let fans invest in his music on the platform.
Fans will be able to invest in Nas’s music on January 11th, when Royal’s website drops a limited amount of ‘limited digital assets,’ an extended version of an NFT. Fans can buy such limited digital assets in the form of ‘Gold’, ‘Platinum,’ and ‘Diamond’ digital tokens for each track, where they will then receive a share in royalties every time the track is streamed. In total, Nas will be giving up 50% of his streaming rights for each song.
‘Diamond’ is the most expensive and prestigious token tier, whilst ‘Gold’ is the least. The royalty share that owners will receive in each track increases in line with the prestige of the tier token, whilst the supply of each token decreases as its prestige increases. There will only be 10 ‘Diamond’ tokens available for each track, which will also include two VIP concert tickets, exclusive signed vinyl, a video conversation with Hit-Boy, plus all ‘Gold’ and ‘Platinum’ perks.
According to Royal CEO and deep house artist, Justin ‘3LAU’ Blau, the marketing concept has already been proven successful, as in October he gave away 333 limited digital assets which represented 50% of streaming ownership to his single ‘Worst Case.’ The song reportedly now holds an implied value of $12 million, where fans are in ownership of half.
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