The world-renowned music artist will be dropping his digital asset collection on the Royal NFT platform.
According to a blog post by another music producer and NFT enthusiast 3LAU, Diplo’s will collection will feature digital assets with streaming royalties, also known as Limited Digital Assets (LDAs), for the song "Don’t Forget My Love."
Tokens with streaming royalties give holders a percentage of ownership of the song and provide extra benefits like access to concerts, exclusive merchandise, or meet-ups with the artist.
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The whole collection consists of 2,110 tokens, with a total of 20% ownership of the song amongst the future owners of the NFTs. The gold tier asset offers only a small fraction of the streaming rights, and costs $99, while the platinum LDA gives 0.05% royalties and an "Exclusive Diplo DJ mix" for $999.
On the other hand, if collectors seek to acquire 0.7% of the songs’ rights, become a part of Diplo’s guest list, and get a yearly "meet-and-greet", alongside rewards from previous tiers, they’d need to purchase the Diamond NFT for $9,999. However, this tier is limited to only 10 tokens.
The collection will be launching approximately 14 hours after this article has been published.
Other musical artists have also used the same platform to distribute streaming royalties of their music. Back in January, legendary rapper Nas launched his own NFT (or LDA) collection with ownership rights to the songs Ultra Black and Rare.