Nas Sells Song Royalty Rights Through Crypto Platform Royal

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Nas – an Amer­i­can rap­per and entre­pre­neur – is sell­ing the rights to two of his songs through Roy­al, a cryp­to-based music start­up. The plat­form cre­ates a new way for music artists to prof­it from NFTs, as visu­al artists are begin­ning to do.

‘Extended NFTs’

Roy­al announced its part­ner­ship with Nas in a blog post on Thurs­day, mark­ing its debut music drop.

The first of the songs is “Ultra Black”, which was the lead sin­gle from the rapper’s Gram­my award-win­ning album King’s Dis­ease. The sec­ond song – “Rare” – was part of his fol­low-up album King’s Dis­ease II, which has been nom­i­nat­ed for a 2022 Gram­my award.

Both songs are released through Nas’s inde­pen­dent label Mass Appeal. They will be avail­able through Roy­al on Jan 11th at 1pm / 9pm EST respectively.

Fans will now be able to take par­tial own­er­ship of each of these songs through “lim­it­ed dig­i­tal assets” (LDAs). These are ‘extend­ed NFTs’ that are embed­ded with stream­ing roy­al­ty rights, allow­ing own­ers to prof­it from its use.

Exact­ly 760 tokens will be made avail­able for own­er­ship of Ultra Black, where­as 1100 will be pro­vid­ed for Rare. Each col­lec­tion fea­tures Gold, Plat­inum, and Dia­mond token tiers, which are increas­ing­ly cost­ly while pro­vid­ing greater own­er­ship stake over roy­al­ties. They will be dis­trib­uted over the Poly­gon net­work, pur­chasable through cred­it card or Poly­gon USDC.

“It’s an incred­i­ble affir­ma­tion of our mis­sion that Nas is the first artist to sell music as art through roy­al.,” reads the post.

Roy­al con­sid­ers this drop a chance to “rev­o­lu­tion­ize” the music indus­try, by democ­ra­tiz­ing music own­er­ship and giv­ing artists more pow­er. The team promis­es more drops in the near future.

Nas’s Interest in Crypto

Nas has already dis­played tremen­dous inter­est in the cryp­to space. He’s invest­ed in mul­ti­ple indus­try com­pa­nies includ­ing Roy­al itself, Coin­base, and oth­er protocols.

Accord­ing to Naithan Jones – Royal’s full-time head of growth – Nas proac­tive­ly asked to be the first to release music on the platform.

Oth­er rap­pers to engage with the space include Eminem – who bought a Bored Ape this week for over $400k – and Snoop Dog, who joined the Doge­coin hype last February.

Fea­tured Image Cour­tesy of Complex

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