Last October we saw the first two festivals hosted on a metaverse. The traditional way of going to a concert or to a festival is changing. Other known blockchain-based music platforms like Opulous and Audius, which have also been growing over the past months. Royal’s first NFT drop was called “Worst Case”, which gave 50% of the ownership to its fans through 333 tokens, launched last October. Its latest release song is called “WAVEFORM”, which gives its owner 100% of the rights and it is open for bidding right now until December 7 at 6:05 pm CET, according to Royal`s official OpenSea account. Democratizing access to asset classes is a huge part of crypto’s future.” “A true fan might want to own something way earlier than a speculator would even get wind of it. Royal is an NFT music platform founded by Justin Blau, AKA 3LAU, and JD Ross, the co-founder of Opendoor, where artists give their fans direct ownership of their songs and the possibility of receiving royalties, so if the artist succeeds, the fan also succeeds, it’s an equal distribution of benefits, according to Royal’s website.Įlectronic DJ and founder Justin Blau said:
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Two weeks ago, artist-investment platform Royal closed a $55 million Series A funding led by a16z, which also included venture capital Coinbase Ventures, and artists like The Chainsmokers, Kygo, and Disclosure, according to Royal official Twitter. The NFT music Royal platform is getting a lot of attention What if artists could benefit directly from their fans? Will record labels and streaming services exist in the future? According to The New York Times, music artists complained about the payment systems in streaming services like Spotify and Apple Music. Ricardo Rivas Info Twitter LinkedInShare this article Tweet Post Share Post Email Imagine owning a fraction of your favorite song as an NFT, or attending a concert in the metaverse.
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