- BAND Royalty has rolled out its first of four series of visionary NFT collectibles, granting them unique status by attaching them to potential revenue opportunities stemming from music artist royalties
- BAND’s stable of music royalty possibilities includes songs sung by artists such as Beyonce, Cher, Justin Timberlake, and Rihanna in its first series
- BAND’s art DeFi offering helps fans claim a personal financial stake in beloved music artists
- The remaining three series of NFT offerings, each with 3,000 “albums” of graduated levels of rarity, with roll out of over the next 18 months along with an NFT-supported token that provides fans further opportunities to share in music royalties
- The first series of NFTs launched with a private pre-sale that netted BAND more than $700,000 in Ethereum equivalence before transferring the remainder of the albums to the public market
The non-fungible token (“NFT”) market gained a revolutionary new player this year when BAND Royalty applied its experience in music industry investments to the digital art collectibles arena in order to create a new type of best-of-both-worlds product.
“I’ve been buying and investing in (music royalties) for almost 20 years,” BAND co-founder Noble Drakoln said during a live-streamed raffle of the final number in BAND’s first series of NFT “albums” May 27 (https://ibn.fm/mKrDa). “As I’ve been in the NFT space helping other companies, I realized that there was an opportunity to merge both NFT art, which was getting really popular, … with a potential DeFi project that allowed people to share in music royalties. Because, why not? Most art and most NFTs have nothing behind them. It’s just what (investors) think other people think is going to be more valuable.”
BAND Royalty’s first series of 3,000 NFTs, available for sale to the public May 15 following a private pre-sale that alone netted over $700,000 in Ethereum equivalence from the most-sought-after albums in the series, presents digital works of art in a forum typical of NFT collectibles and then offers opportunities for the buyers to stake the NFTs if they want to use them to obtain a pooled apportionment of select musicians’ royalties.
The first series includes royalties from music catalog selections featuring artists such as Justin Timberlake, Jay-Z, Beyonce and Timbaland.
“It’s a secret hidden world of investing. People don’t know they can buy performance royalties of major acts. … And that these rights are always floating out there for people to acquire them on various songs that these artists performed on,” Drakoln said during the album raffle, which highlighted BAND’s collaboration with crypto exchange LATOKEN. “We listen to all these people on the radio and we don’t know that there’s actually an income stream being developed.”
BAND’s website illustrates the process for obtaining potential earnings from the NFTs, beginning with a purchase of lowest vinyl-level albums (the series includes a scaled roster of increasing rarity of albums from vinyl through varied gold and platinum levels to the most-limited diamond levels) for 1 ETH each using a Metamask or Trust wallet. That puts the buyer in BAND’s Music Mogle Club, and qualifies the buyer for staking opportunities in pools that may derive royalties either from published printing of the songs, mechanical reproductions of the songs or synchronization of the songs in outside media such as ads or movies.
Then, every time a song earns royalties in the applicable pooled category, 50 percent of the revenue is divvied up among the people holding shares in the pool.
“These are amazing ways to participate and to really give extra value to the beauty of the NFT art you collect,” Drakoln said, noting that BAND will also tokenize the NFTs once the first series is completed to allow more people to participate and have an opportunity to access the music royalties.
The company plans to have a maximum of 12,000 BAND NFTs divided among four different series, with the remaining three series to be released over the next 18 months (https://ibn.fm/00j9v). BAND also expects to eventually launch its own music label with a cadre of artists.
“We’re one of the most unique NFTs in the marketplace. No one’s ever seen this. We’re attached to world-class platinum performers,” Drakoin said.
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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