Nasir bin Olu Dara Jones (also known as Nas) will sell 50% of the streaming royalties for "Ultra Black" and "Rare" in a form of non-fungible tokens (NFTs), Billboard has learned. The tokens are scheduled to be dropped on Royal, an NFT marketplace founded by DJ 3LAU where fans can take ownership stakes in songs.
3LAU says Nas' decision to drop the tokens on his platform is "an incredible affirmation of our mission." He added:
It’s proof that artists across genres feel strongly about democratizing ownership of their music, and that they want to be connected to their listeners on a deeper level.
Roayl turned out to be a success for his owner as the startup raised $55 million in a Series A funding round, led by venture capital firm Andreessen Horowitz and participation from investors like CAA, WME, Crush Music, Coinbase Ventures, Founders Fund, Paradigm, and others. Nas plans to drop NFTs on Royal on January 11, 2022.
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In December 2021, Rapper Swae Lee also joined the blockchain market as "Chief Entertainment Officer" at Mafia Blockchain Game. With the appointment, the game plans to bolster its marketing strategy, including content creation, influencer marketing, and licensing. It remains unclear though how exactly Lee will be involved in the game development.