The Chainsmokers Fans Receive NFTs with Album-Wide Royalties

The Chainsmokers have decided to offer their fans an exclusive NFT with album-wide royalties, in a move that could revolutionize the world of music’s digital sales. The company plans on giving out 100 million RACs for each track released and 10 million tokens per concert ticket sold.

The “royal nft” is a new type of token that was created by the Ethereum project. The Tokens will be given to fans who pre-ordered their album.

After artists like Nas and Diplo experimented with embedding royalties into tracks through NFTs, The Chainsmokers have chosen to take things a step further by releasing NFTs that include royalty cuts from their whole new album. With 13 songs included on the new album ‘So Far So Good,’ holders of the 5,000 NFTs will basically have access to 13 additional income streams.

To set it apart from previous NFT royalty forays, the 5,000 NFTs in question will be given away for free to The Chainsmokers fans, with metrics like concert attendance, music streams, and Discord activity all being tracked to ensure that only the most devoted fans get their hands on the album’s fruits. However, the 5,000 NFT holders will only get a fraction of a percent of the album’s profits, basically earning a 0.0002 percent royalty cut. 

Given that the cut is relatively minuscule when whittled down (although it’s a free NFT, so you can’t complain), the assets’ real standout features are their additional perks, which include access to a members-only section of The Chainsmokers’ Discord channel and opportunities to meet with the duo (a.k.a Drew Taggart and Alex Pall) directly. 

 

Music nfts are a type of cryptocurrency that allow fans to purchase rights to release music. The “The Chainsmokers Fans Receive NFTs with Album-Wide Royalties.” is an example of how this technology has been implemented. Reference: music nfts.

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