[REVIEW] : Rapper NAS offers to buy his royalties with NFTs
The iconic American rapper NAS, star of the early 2000s, has decided to sell part of his royalties in the form of NFT.
The very prestigious Anglo-Saxon “Collins” dictionary has made it its word of the year 2021, but the transition to the new year has not slowed the rate of propagation of NFTs. Today, these non-fungible tokens are everywhere and they are becoming more and more important in our daily lives.
If they have already found their use in the world of sport, becoming collectible cards 2.0 like the famous Paninis with the Sorare exchange platform. It is above all the art world that has benefited the most from the arrival of NFTs in the digital world. Thus young artists like Nyla Hayes have been able to generate millions of dollars by creating and reselling NFTs.
Music and rap in search of NFTs?
But now the world of music is also gradually starting to be invaded by virtual tokens. Indeed, the NFTs have already been used by rapper Booba to sell the 25,000 exclusive titles of his single “TN”. But the Duke’s marketing ideas seem to have given ideas to other artists in the rap scene, even across the Atlantic.
Indeed, it is the turn of the rapper NAS to talk about him in turn, and to offer NFTs for sale to his audience. But this time, no question of recovering an exclusive music or a video clip. Indeed, the American rapper had the funny idea of proposing to sell part of the streaming royalty rights of his last two songs “Ultra Black” and “Rare”.
The artist explained that he wanted to be “always looking for new ways to be connected with my fans. »On the rapper’s site, it is possible to retrieve NFTs of several values. The first prizes are “gold” tokens of the track “Ultra Black”. This allows the acquirer to recover 0.0143% of the title’s royalties.
From 50 to 10,000 dollars in chips
Other tokens are available at other prices up to $ 9,999. At this price, it is possible to recover a little more than 1,578 9% of the royalties on the income of streaming of the title “rare”. If the amount may seem very high, the investment could quickly pay off. Indeed, the royalties of the streams of certain music can reach millions of dollars, even for a single title.
Because of the opacity of this market (the streaming income of artists is very poorly known), it is difficult to know how much a title like “Rare” or “Ultra Black” can bring in, and therefore how much people who buy one. NFT can hope to touch.
THE RAPPER NAS OFFERS ITS FANS TO BUY THE ROYALTIES OF ITS TITLES… IN NFT
For several months, NFTs – or non-fungible tokens in French – have been on the rise. Nas is now the first in music history to have released the rights to two NFT singles.
While several artists have already started selling their music in this form, giving the possibility of obtaining the streaming rights to songs is unprecedented. The rapper explained, “I’m always looking for new ways to be connected with my fans. “
As of Tuesday, January 11, Internet users can therefore become the beneficiaries of part of the streaming royalty rights for the songs “Ultra Black” and “Rare” by Nas. The first, released on August 14, 2020, has already been streamed over 8 million times on Spotify alone. “Rare” (2021), taken from “King’s Disease II”, has meanwhile been listened to just under 11 million times on the platform.
FROM 50 TO 9,999 DOLLARS OF INVESTMENT
Concretely speaking, several price levels are offered on the rapper’s official website. For 50 dollars, the first prize, it is possible to obtain an NFT “Gold” token for “Ultra Black”, and thus receive 0.0143% of the streaming royalties of the single.
Conversely, for $ 9,999, the highest consideration, you can purchase a “Diamond” token, which will earn 1.5789% on “Rare” streams. NFTs are available in limited quantities.
Nas sells rights to two NFT singles
By selling part of the royalties of recent titles, the rapper innovates in the medium of digital tokens.
On January 11, 2022, Internet users will be able to become the beneficiaries of part of the streaming royalty rights for the songs “Ultra Black” and “Rare” by Nas. The musician will offer for 50 dollars, first price, the acquisition of an NFT “Gold” token for “Ultra Black” which will then bring back to its happy owner 0.0143% of the royalties in streaming of the single. At the other extreme, for $ 9,999, the highest price, it will be possible to purchase a “Diamond” token that will earn 1.5789% on “Rare” streams.
This is the first time in the history of music that an artist has offered NFTs for sale on royalty. “I’m always looking for new ways to connect with my fans,” the 48-year-old American rapper commented. “There is a huge opportunity to revolutionize the music industry. Democratizing ownership is a powerful step, ”said Royal, the company responsible for the sale of digital tokens.
The title “Ultra Black” was released on August 14, 2020. Present on the “King’s Disease” disc, it has already been streamed more than 8 million times on Spotify alone. On the same platform, “Rare”, an extract from “King’s Disease II” released in 2021, accounts for a little less than 11 million plays.
The rap icon Nas allows fans to own a piece of his music through NFT.
Nas came out NFT
The meteoric rise in the use of NFT technology in the real world continues into 2022. This time around, an artist who has been successful in hip-hop culture for decades is pulling out his tokens.
Award-winning rapper Nas will release Non-Exchangeable Tokens (NFT) which will allow his fans to own a share of two of his songs. Specifically, these songs must be Ultra Noir a Rare.
Users who purchase Limited Digital Assets (LDAs) through NFT will receive a percentage of the broadcast royalties based on the token they hold.
Ultra Noir is taken from Nas’ album The King’s Sickness, which won a Grammy Award in 2021. Rare is a song from the following album The King’s Sickness II Both songs will have a limited amount of tokens, 760 and 1110 respectively. Both go on sale January 11, and buyers can earn tokens on a first come, first served basis. “
“Without further ado… we are honored to announce that hip-hop legend, innovator and entrepreneur Nas will be the first artist to release his music on Royal on January 11! “
Royal CEO Justin “3lau” Blau revealed late last year that the platform’s number one goal is for fans to become co-owners of the music of their favorite artists.
“We are starting with a group of artists selected for our initial sales, but we plan to open the platform to other artists in the future.” Blau said.
Nas, who will be the first artist on NFT Royal, is no newcomer to the crypto world. In a song with DJ Khaled and Jay-Z, Nas bragged about his … cryptocurrency fortune and his investment in Coinbase’s cryptocurrency stocks.
Artists around the world are trying to use a number of different platforms to manage their NFTs. While fan tokens are the most common, rapper NAS allow some form of copyright ownership, or the right to a share of the royalties. Another famous rapper, Eminem, recently joined Bored Ape Yacht Club after he allegedly bought the Bored Ape nicknamed “Eminape” for $ 462,000 on OpenSea.