Music-Focused NFTs from BAND Royalty Allow Fans to Earn Royalties from Favorite Songs
SINGAPORE, April 28, 2021 (GLOBE NEWSWIRE) -- via InvestorWire – BAND Royalty (the “Company”), an entertainment and technology-driven firm and a leading innovator of music-focused non-fungible tokens (NFTs), is proud to announce the availability of its BAND NFTs, which allow fans to earn royalties from some of the world’s hottest artists and their music. The Company’s platinum music catalog consists of over 50 songs from top artists like Beyonce, Jay-Z, Justin Timberlake, Cher, will.i.am, Timbaland, Missy Elliott and Rihanna.
With the amazing technological breakthrough of NFTs, music fans can now not only enjoy listening to songs but can buy and hold blockchain-secured BAND NFTs, which allow them to earn crypto directly from the royalties paid on the songs from the catalog. The BAND Royalty ecosystem enables fans to earn through trading BAND Royalty NFTs (on OpenSea marketplace), as well as earn from BAND’s own Music Royalty Pools, by staking the BAND NFTs.
BAND Royalty is also signed with Sony Music / The Orchid as the distributor of its own new music label, BAND Music Chain Records.
BAND Royalty was founded by Barnaby Andersun and Noble Drakoln – experienced and visionary entrepreneurs who are masters of their trades. Andersun is the CEO of BlockAlchemy, a company that has been delivering blockchain and e-commerce solutions for the past five years. Drakoln, the CEO of WarePlay Games, Inc., a mobile AR/XR game design and development studio, who also has decades of experience as an investor in music royalties.
The two men came together to establish BAND Royalty because of their passion for music and disruptive blockchain technology. Their interest is inspired by the growing popularity of non-fungible tokens (NFTs), a technology that allows people to hold uniquely valuable digital assets on the blockchain such as images, videos and audio. Recent examples of NFTs include Twitter CEO Jack Dorsey selling his first tweet as an NFT for the equivalent of $2.9 million in March 2021 and digital artist Beeple selling a digital art collection in the same month for $69 million.
Music royalty earning has remained an exclusive asset typically reserved for those with music industry connections. Now, for the first time, with the rise of NFTs backed by blockchain technology, anyone can have the opportunity to earn from top music artists thanks to BAND Royalty.
Earning crypto from popular music through BAND Royalty NFTs is easy. The first step is to simply secure a BAND Royalty NFT. Every lover of music has the opportunity to buy one or more, depending on their budget or interest. After securing the BAND NFTs, the holder can then stake them in one of three royalty pools to secure streaming royalty from the complete BAND music catalog pool of artists. This means NFT holders can earn from all the artists in the complete BAND music collection pool at the same time. Simply select one of the music pools to stake from the three available: publishing, mechanical/public performance or synchronization.
BAND Royalty NFTs stakers will also get an additional 5% of OpenSea Ethereum (“ETH”) trades. The more NFTs staked in the royalty pools, the less supply in the tradeable markets, which affects the value of each BAND NFT. BAND Royalty receives the royalties directly from the music industry leaders BMI and ASCAP, sharing 50% of all the earnings with BAND Royalty NFTs’ stakers. BAND Royalty NFTs’ stakers have the option to stake from 90 days up to five years, allowing them to earn passive income in crypto. The longer the stake, the more crypto a staker will earn.
Revenue earned by BAND Royalty stakers comes from streaming and publishing of the artists in the BAND royalty music collection, every time they’re played. BAND Royalty is already a member with major royalty collectors ASCAP and BMI and others worldwide who collect royalties for the BAND royalty pools.
About BAND Royalty
BAND Royalty is a platform founded by Barnaby Andersun and Noble Drakoln and operated by LIBERTY IS PTE LTD. The platform offers music fans the opportunity to earn a share of music streaming royalty by top artists worldwide in the BAND Royalty pool. BAND Royalty is revolutionizing the music world by using technology to help music fans connect in a brand-new way with musicians, allowing music lovers to earn revenue from their passion.
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