World-renowned rap artist Nas, known for his legendary hip-hop album "Illmatic", will release song-based digital assets that give a percentage of streaming rights to their owners.
According to a Twitter post by royal.io(an NFT marketplace that enables users to purchase song royalties), the platform has partnered up with the legendary hip-hop artist Nas. Their latest drop will include songs from the two of his latest albums - King’s Disease and King’s Disease II.
Nas commented on the decision to release his own digital assets, stating:
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I am always looking for new and unique ways to connect with the people. So I am excited to partner with Royal on their new endeavor in order for the world to connect with my music in a new way.
Rare and Ultra Black are currently the only two songs listed as NFTs that carry streaming royalties. The number of royalties given to the buyers will be determined based on the NFT tier.
Each song has gold, platinum, and diamond tiers that will hold "a total of 50% of the streaming rights." Prices range from $50 to $9,999.00 with exclusive rewards depending on the tier. The maximum amount of royalties that a buyer can get is 2,1400% with the diamond "Ultra Black" NFT.
There will be 760 units of Ultra Black, and 1,110 Rare digital assets for sale. Both collections will be eligible for purchase on January the 11th.