Discover the revolutionary new way to own digital music with Royal Music NFTs. Learn what they are and how it changes the future of music ownership.
Royal Music NFTs are changing the way music can be owned. Utilizing cutting-edge blockchain technology, music non-fungible tokens make it possible for musicians and music fans to securely and uniquely own exclusive digital artwork associated with a song or album, plus a portion of the streaming royalties of the underlying track.
Discover how these revolutionary new tokens are reshaping the future of music ownership.
What are Royal Music NFTs?
Royal Music NFTs are a unique application of blockchain technology explicitly developed for the distribution and ownership of fractionalized digital music rights. These NFTs enable high-profile musicians to create and distribute digital assets such as album artwork, music videos, lyric sheets, unique experiences, and a portion of the streaming royalties of the underlying track in a secure and reliable way. Royal Music NFTs can be purchased with cryptocurrency on the Royal NFT marketplace and stored in any wallet that has support for the Polygon network.
What Artists Release Royal Music NFTs?
Various high-profile artists throughout the music industry have released Royal Music NFTs. These artists span genres and stages in their career but tend to be established electronic or hip-hop artists. The list of currently released music NFTs through Royal includes:
How are NFTs Revolutionizing the Music Industry?
Royal Music NFTs are revolutionizing the music industry by allowing digital music owners to monetize their music beyond streaming platforms or live performance. The NFTs are verified on-chain, licensed by the rights holder, and tracked on the blockchain, meaning fans can now own a piece of history without worrying about potential copyright infringement or security issues.
Moreover, by creating a digital marketplace for music-related assets, Royal Music NFTs create a new revenue stream for artists that can potentially increase their income from selling music-related merchandise.
What Technologies Power Royal's Music NFTs?
A combination of blockchain and smart contract technologies on the Polygon network powers Royal Music NFTs. The smart contracts allow music ownership transactions to be securely registered on the Polygon blockchain and store data about each piece of music for future reference. Additionally, all transactions made with Royal Music NFTs are immutable, meaning that once a piece of digital music has been acquired, it will forever belong to the rightful owner.
The Tuture is Bright for Fractionalized Ownership
Through a crypto bear market and larger instability in the wider economy, music rights have the potential to be not only a growth asset, but one that is steady despite macro trends.
The future of music NFTs is bright for fractionalized ownership of music rights in 2023.