Nas locked in for NFT drop on 3LAU’s Royal investment platform
Nas is set to become the very first artist to partner with 3LAU’s blockchain-based music investment platform Royal, with his brand-new, innovative NFT deal launching on Tuesday January 11.
This deal will give fans the chance to invest in Nas’ music, giving them exclusive streaming rights to a couple of his tracks, ‘Ultra Black’ and ‘Rare’, which are featured on his albums ‘Kings Disease’ and ‘Kings Disease II’ respectively.
The release on Tuesday will comprise ‘limited digital assets’, which are an extended form of an NFT. These limited digital assets will be available to purchase in the form of digital tokens; ‘Diamond’, ‘Platinum’ and ‘Gold’ (‘Diamond’ being the highest tier and ‘Gold’ being the lowest tier). The benefit of holding one of these limited digital assets is that every time the track is streamed, holders will receive a share in royalties; Nas is giving up 50% of the streaming rights for each track!
To be more specific, if you hold a ‘Diamond’ digital token, you’ll receive a greater royalty share as opposed to holding a ‘Platinum’ or ‘Gold’ digital token. The supply of each token also decreases as its tier increases (there are fewer ‘Diamond’ tokens than there are ‘Gold’ tokens).
There are only 10 ‘Diamond’ tokens available for each track, however they are loaded with exclusive perks. They include two VIP concert tickets, an exclusive signed vinyl, a video conference call with Hit-Boy (who featured on Nas’ track ‘Composure’), as well as all the perks of the ‘Gold’ and ‘Platinum’ tiers.
This NFT drop by Nas comes at a perfect time for Royal, who first launched to the public in October of 2021; Justin Blau (who we know and love as 3LAU) released his single ‘Worst Case’ and gave away 333 limited digital assets, which represented 50% of its streaming ownership – the track allegedly holds an implicit value of $12 million USD!
This is only the beginning for Royal; we’re intrigued to see which other artists are set to drop NFTs in the near future! You can sign up to purchase the limited digital assets below.
Image Credit: Shannon Brown