BAND Royalty Launches Breakthrough NFT Music Collection on OpenSea
SINGAPORE, April 30, 2021 (GLOBE NEWSWIRE) -- via InvestorWire – BAND Royalty (the “Company”), an entertainment and technology-driven firm and a leading innovator of music-focused NFTs, announces the upcoming launch of a unique collection of blockchain-secured BAND NFTs.
BAND Royalty’s focus on distributing non-fungible tokens (NFTs), hosted on the Ethereum blockchain, is designed to allow fans to earn royalties from top songs and blockbuster artists.
Launching in May 2021, BAND Royalty is offering a unique collection of NFTs that connect fans with a catalog of music that includes hits performed by some of the world’s most electrifying artists, including Beyoncé, Jay-Z, Rihanna, Justin Timberlake and many more. Securing a BAND NFT enables fans to take a stake in 50% of the royalties earned from the BAND Royalty music pools, leveraged from over 50 music tracks. Whenever someone listens to a track from this headline act catalog of hits, the stakers of BAND NFTs are set to profit.
BAND Royalty will offer its BAND NFTs on OpenSea.io, the largest marketplace for NFTs worldwide. OpenSea reported monthly sales of over $86 million in February 2021 alone, up from $8 million the month before. The exciting and innovative OpenSea NFT marketplace offers a variety of digital goods including collectibles, gaming items, domain names, digital art and, from May 2021, music.
NFTs might appear to be new in the digital marketplace, but NFTs were first launched in late 2017 with the breakout CryptoKitties series. Quickly followin the $40 million sellout of CryptoKitties, OpenSea launched in 2018, creating a platform for anyone to buy and trade NFTs with the knowledge that all their transactions are safe and regulated. NFTs are being widely hailed as the future of digital ownership, setting the stage to transform the way the music industry operates.
BAND Royalty’s desire is to open up music royalties to music lovers the world over, and to capitalize on the shifting landscape of ownership in the music industry. What underpins the Company’s decision to host BAND Royalty NFTs on the Ethereum blockchain is that it is the most widely used NFT protocol in the world, making OpenSea the largest market for NFTs worldwide. BAND Royalty believes that tapping into the most liquid NFT market, they are giving music and NFT fans the best opportunity to purchase and trade BAND NFTs with anyone worldwide.
The key difference that makes BAND NFTs special in a growing and crowded NFT market is how BAND NFTs can be staked into any one of the three BAND Royalty music pools on their platform (publishing, mechanical/public performance and synchronization). This unique trait of BAND NFTs is what enables BAND NFT stakers to receive a portion of the music royalty rights (streaming income) from each track.
The first-ever issuance of BAND NFTs will be offered to the public on the 5th of May 2021 on OpenSea. Upon becoming a holder of BAND NFTs, the holder will have the option to stake their BAND NFT tokens for a period from 90 days up to five years. The longer the holder stakes their BAND NFTs, the more proportionally increased share of the royalties they will receive.
BAND Royalty is set to be a highly sought-after opportunity in the hot NFT space, as the Company intends to limit the NFTs to only 3,000 in this launch, and being capped at 12,000 following subsequent launches, enabling fast adopters to capitalize on this unique royalty opportunity. Lucky holders of BAND NFTs can passively earn crypto from both BAND NFT trades on OpenSea and also from the BAND music catalog revenue.
BAND Royalty was founded by Barnaby Andersun and Noble Drakoln, both of whom are experts in the fields of blockchain and music royalty investing.
About BAND Royalty
STIR/SHAKEN with SIPp
On Premise Strategies: CBRS and Private LTE