- The price of Ether currency has been driven up by the growing popularity of non-fungible tokens.
- BAND Royalty’s NFT Series 1 has had a successful pre-sale to the tune of almost $1 million dollars, with just 3 NFTs selling for $200,000. The BAND NFTs are based on a rarity curve, with the least rare starting at 1 ETH (approximately $3,442.39).
- Eventually BAND NFTs will be able to put in one of several music royalty pools to stake for an opportunity to share in 50% of the royalty income brought in by various music royalties.
- Company has plans to release a BAND Token in an IEO with LATOKEN in the next 60 days.
The global cryptocurrency sector has been increasing exponentially, with various types of cryptocurrencies available on the market steadily increasing in value and popularity. Valued at $754 million in 2019, the market is anticipated to grow at a CAGR of 11.2% over the 2020-2027 forecast period, resulting in an estimated $1.8 billion (https://ibn.fm/mWyDg).
A cryptocurrency that has seen significant growth recently is Ether, the currency of Ethereum, a blockchain-based computer network. As a result of recent developments in the crypto world, Ether is now the second-largest cryptocurrency behind Bitcoin. The price of Ether has been driven up by the explosion of NFTs, or non-fungible tokens, as well as the fast-growing decentralized finance market (https://ibn.fm/HScvY). According to information obtained by the data-tracking site NonFungible, the total NFT sales on the Ethereum network jumped to $2 billion during the first quarter, after closing at $94 million in the prior quarter.
Taking advantage of this unprecedented growth and new market opportunities emerging as a result, entertainment tech company BAND Royalty set out to create an NFT music ecosystem aimed at revolutionizing the music industry while also giving fans a chance to share in the royalties of their favorite music. The company’s NFTs, hosted on the Ethereum blockchain, are a special type of NFT that will be able to be staked in any one of three BAND Royalty Music Pools. Once staked, the owner of the particular NFT can receive a portion of all royalty streaming income from each track for each royalty pool category.
BAND’s royalty pools feature a performance music catalog with tracks from some of the biggest names in the music industry, including Beyonce, Jay-Z, Cher, Timbaland, Rihanna, and more. BAND NFTs enable the holders the ability to earn every time that the track is performed based on the respective royalty pool.
BAND Series 1 of NFTs will be available for sale directly on their website, www.BandRoyalty.com, in their own NFT Marketplace. A pre-sale of the NFTs was introduced for their telegram members only on May 5, 2021, with over $1 million in BAND NFTs sold. Series 1 features a limited collection of unique artwork celebrating the music industry and its diversity (https://ibn.fm/V3jxF). Only 3,000 Music Royalty Art NFTs are available in Series 1, at a current starting price of 1 ETH (1 Ether = approximately $3,442.39).
Once purchased, the NFT will be able to be staked in one of the pools to gain access to the potential royalties. The three royalty pools are 1) publishing, 2) mechanical/public performance, and 3) synchronization. As BAND continues to expand the music royalties library collection, the royalty income stream grows with it – adding more top-tier tracks and performers to the portfolio.
Currently the plan for the BAND NFTs is to give the holders the ability to be staked for a minimum of 90 days or up to a maximum of five years. The longer the NFT is staked, the more proportionally increased the amount of royalty share that becomes available. BAND NFTs will be available in eight different levels of rarity:
- Vinyl Album NFT
- Vinyl Gold Album NFT
- Gold Album NFT
- Gold Platinum Album NFT
- Platinum Album NFT
- Platinum Diamond Album NFT (PreSOLD)
- Diamond Album NFT (PreSOLD)
- Double Diamond Album NFT (PreSOLD)
Each of these rarity levels will have a set number of NFTs assigned to them, with Vinyl Album NFT having the most and a 1 ETH price tag to the Double Diamond Album NFT, with only one available and a 25 ETH price. BAND founders Barnaby Andersun (“BA”) and Noble DraKoln (“ND”) plan to issue three more BAND NFT series on OpenSea.
For more information, visit the company’s website at www.BANDRoyalty.com.
NOTE TO INVESTORS: The latest news and updates relating to BAND Royalty are available in the company’s newsroom at https://ibn.fm/BAND
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