The latest Royal payout shows a strong future for fractionalized music rights in the NFT space
According to a new blog post by Royal, on November 4, Diplo, The Chainsmokers, Nas, Ollie, Elephante, 3LAU, Jacob Lee, and Vérité will be delivering $61,571.29 in streaming royalties to collectors through the Royal platform.
This payout will bring the total earned by fans from these artists to more than $100,000.
Making History One Artist at a Time
Earlier this year, The Chainsmokers made history by offering 1% ownership of their new album "So Far So Good" to fans for free. Now, they are making history again by being the first to offer album royalty payouts to fans. Token holders will earn royalties alongside The Chainsmokers for May and June streams and exclusive perks such as meet-and-greet opportunities, virtual listening parties, and more.
Payouts will be available to claim on Friday, November 4, and token holders will receive an email notification when they are available in their dashboard. The chart in the blog post shows the payout amounts for each drop, along with an estimated annualized return based on the original token price. It is important to note that to receive royalties, the token must be held in a self-custodial wallet at the time of the payout.
What's Royal? A Quick Overview
Royal is a Web3 platform that allows music fans to invest in the future success of their favorite artists by purchasing NFT tokens representing a percentage ownership in their music. These tokens can be bought and sold on the platform or via OpenSea.
Royal aims to make music rights more accessible and transparent, allowing anyone to invest in the music they believe in and potentially earn outsized returns as the music grows in popularity. The platform is constantly expanding and building tools for the next generation of music and is committed to creating a world where anyone can invest in the music they love.