Rapper Nas to let fans own part of his music through NFTs
Award-winning rapper Nas will release nonfungible tokens (NFTs) that will let his fans own a stake in two of his songs, “Ultra Black” and “Rare.”
Users who buy and hold the NFTs, dubbed limited digital assets (LDAs), will get a specific percentage of streaming royalty ownership depending on the token that they hold.
“Ultra Black” comes from Nas’ 2021 Grammy award-winning Album King’s Disease, while “Rare” is from the follow-up 2022 Grammy-nominated album King’s Disease II. The former song will have a limited supply of 760 tokens, while the latter will have 1,110. Both will be released on Jan. 11, and buyers will be able to acquire the tokens on a first-come, first-served basis.
Without further ado.. we’re honored to announce Hip Hop legend, innovator and entrepreneur @Nas will be the first artist to drop his music on royal on January 11th! https://t.co/TkyWvOJOvY pic.twitter.com/hQGGXVuPhz
— royal (@join_royal) January 6, 2022
The LDAs will be sold through the NFT music platform Royal.
Back in November 2021, Royal CEO Justin “3lau” Blau told Cointelegraph that the platform’s number-one objective is to allow fans to co-own the music by their favorite artists. “We’re starting off with a curated group of artists for our initial sales, but we plan on opening up the platform to more artists in the future,” Blau said.
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Nas also reportedly invested in Coinbase, one of the biggest crypto exchange platforms, when it went public last year. In a song with DJ Khaled and Jay-Z, Nas bragged about his crypto wealth and Coinbase investment. “I’m coin-based, basically cryptocurrency Scarface,” says Nas in the song.
Another prominent rapper, Eminem, recently joined the “Bored Ape Yacht Club” after reportedly buying a Bored Ape nicknamed “Eminape” for $462,000 in OpenSea. The rapper is known to own several other NFTs, such as “Ditaggdogg#1” and “Superlative Apes #3880.”