- BAND Royalty has successfully bought the performance royalty rights to Justin Timberlake’s multi-platinum song “Mirrors”, along with the performance royalty rights to 50+ other songs performed by JayZ, Beyonce, Timbaland, Cher, Demi Lovato, and many more. in a bold move they are giving anyone the ability to enter the secretive world of royalty investing by letting them share in the revenue from these royalty rights when they buy a BAND Royalty NFT for as little as 1 Ethereum.
- NFTs are built like cryptocurrency, such as Bitcoin or Ethereum, but are non-fungible, meaning that they have a unique digital signature which makes them impossible to be counterfeited, damaged, or destroyed, guaranteeing full chain of custody.
- Jack Dorsey sold his first Tweet for over $2.9 million, and Beeple sold his digital artwork EVERYDAYS: THE FIRST 5000 DAYS for $69 million all through NFT.
- BAND Royalty’s Series 1 art-inspired music NFTs have a limited number still available for purchase, and showcase unique artwork highlighting diversification in the music industry.
- Company plans to release more tokens in the future.
- The minimum amount of time that a token can be staked is 90 days, topping out at a maximum of five years, and are subject to short-term capital gains taxing.
BAND Royalty is a music industry disruptor, the first to use NFTs (non-fungible tokens) to create the first-ever DeFi (decentralized finance) opportunity based on music royalties. Founded by and named after Barnaby Andersun (BA) and Noble Drakoln (ND), BAND Royalty is uniquely positioned in the industry to capitalize on the shifting landscape that surrounds digital ownership.
NFTs are not a cryptocurrency, but interested buyers will need to invest in some cryptocurrency to purchase the ones available from BAND. Even though NFTs are built like cryptocurrency – Bitcoin or Ethereum – that is where the similarity ends. NFTs were created to be non-fungible, meaning that they have a unique digital signature making it impossible for these tokens to be exchanged for or equal to another. NFTs can represent tangible and non-tangible items, including:
- Sports Highlights
- Virtual Avatars
- Video Game Skins
- Designer Shoes
Even something as simple as a tweet makes the list of NFTs – with Twitter CEO Jack Dorsey making history when he sold his first Tweet for more than $2.9 million (https://ibn.fm/h3RR5). In May 2007, a digital artist that goes by the name Beeple set out to create a piece of artwork, adding pieces daily for 5,000 days. The collection of daily digital art is known as EVERYDAYS, and the pieces together are EVERYDAYS: THE FIRST 5000 DAYS. The work was sold as an NFT in an online auction for $69 million, on March 11, 2021 (https://ibn.fm/StBqw).
While BAND offers no guarantee of the return on investment from these NFTs, it provides holders with the opportunity to share in performance rights of various artists and songs and earn royalty income every time a song in the company’s catalog is performed. The catalog consists of songs by reputed artists including Beyonce, Cher, Rihanna, Missy Elliott, Jay-Z and more. Once they purchase the NFTs, users can stake them in one of three available pools: publishing, mechanical/public performance, and synchronization. The minimum amount of time that a token can be staked is 90 days, topping out at a maximum of five years. These are subject to short-term capital gains taxing.
Coming in July BAND hopes to makes it easy for those who that own BAND Royalty art NFTs to stake them and share in the royalty income. After purchasing one of the limited release BAND NFTs and staking it in one of three royalty pools, BAND Royalty hopes to allow stakers to have the following opportunities:
- Earn 50% of all BAND Royalty music catalog revenue
- Earn 5% on BAND NFTs traded on the company’s first-ever music only NFT marketplace
- Earn 50% from all other auctions of single BAND music tracks sold
- Earn 5% from re-selling music royalties on the BAND platform
The current NFT offering from BAND consists of 15 pieces of unique artwork that celebrates the diversity of the music industry as a whole. The total number of Series 1 NFTs will be limited to 3000 NFTS with eight distinctive rarity levels, it’s called a “bonding curve”, provided on a first-come-first-serve purchase and time released schedule, see website for details. NFTs are currently available on the BAND platform and start at 1 ETH. As the rarity increases, so does the price, going as high as 25 ETH, which has already been sold. BAND already plans to release more music art NFTs, most likely over the next twelve months.
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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