The conversation about owning music is changing. Hip-hop pioneer Nas has partnered with Royal Financial Investors to test a new method for fans and artists to work together. In addition, it was financially profitable for all parties. NAS’ NFT sold out in minutes.
For the past few months, we have been preparing for the announcement of the NFT project. The collaboration between Royal and Nas brought two tracks, “Ultra Black” from the Grammy Award-winning album, King’s Disease, and “Rare”, a single from the 2022 Grammy Award-nominated King’s Disease II.
They released a limited number of tokens. Each token has a one percent royalty of the selected song, for instance, 0.0658%. The whole number of tokens for “Rare” is 1,110 and for “Ultra Black” is 760. Prices differ from $50 to about $10,000. In addition, a token owner can get special merchandise, VIP concert tickets, signed vinyl, and so on.
Royal and NAS stopped the project while discussing ownership. So far, there have been limited ways to fund your favorite artists, by streaming, purchasing their albums, or attending their shows being the major ways. If buying a percentage of your chosen artist’s project, becomes normal, it can change the way music companies and artists work. As a result, NAS can be glad about its sold-out NFT project while preparing for its next project.
