Las Vegas EDM artist 3LAU is making headlines yet again for another music related NFT. Through his co-ownership of Royal, an NFT-based platform, he empowers fans to have 50% of royalties from his new song “Worst Case.”
“When you own a piece of music as art, as a fan, you should actually own that music.”
Rolling Stone interview with 3LAU
3LAU dropped his new song “Worst Case” with his royalty perk on October 8th. Fans can purchase up to 50% ownership of the track’s royalties. This offer only goes to the top 333 members who win early access, and they own the right forever.
Currently, the 3LAU NFT early access referral contest is closed. Royal will announce the winners soon.
3LAU Promotes Fan-Owned Royalties via NFTs
NFTs have really taken the music industry by storm. It seems like every week music artists are releasing NFT collections, but now investing in artists can allow you to guarantee a return; of course, provided people listen to the song.
Photo via @3lau on IG
3LAU has seen first-hand what the world of blockchain can do. He made headlines in February when he sold the world’s first-ever NFT album Ultraviolet. The project generated over $11.6 million in online sales in under 24 hours.
With these moves, 3LAU means to demonstrate the capabilities of Royal, which launched with $16 million in seed funding earlier this year.
3LAU’s NFT Marketplace, Royal.io
Founders Fund and Paradigm invested in Royal, a platform that combines music rights with NFTs. It’s allowing users to buy percentages of royalties on 3LAU’s music through the company’s marketplace. This means ownership of 3LAU NFT royalties will generate income based on listener count.
The platform provides fractional music ownership and enables the public to buy and trade tokens that act like currency. As owners, you gain a percentage of the income generated from every stream. All these will be done through Limited Digital Assets (LDAs), Royal’s own version of non-fungible tokens (NFTs).