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NFTs Flipping the Script, Bringing Value Back to Music Artists
NetworkNewsWire Editorial Coverage
NEW YORK, May 25, 2021 /PRNewswire/ With the onset of the digital universe over the last decades, music has been steadily devalued with a race to the bottom pricing to give subscribers access to massive databases of music. Pandemic social shutdowns were another blow to musicians, who now couldn t even generate revenue from live performances. In recent months, the emergence of NFTs, or non-fungible tokens, are breathing life into the industry as musicians are getting creative with ways to generate revenue and better connect with fans. An NFT is, in essence, a collectible digital asset, which holds value as a form of cryptocurrency and as a form of art or culture, and offers artists the ability to monetize their art or music. Music DeFi pioneer
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SINGAPORE, April 28, 2021 (GLOBE NEWSWIRE) via InvestorWire –
BAND Royalty (the Company ), an entertainment and technology-driven firm and a leading innovator of music-focused non-fungible tokens (NFTs), is proud to announce the availability of its BAND NFTs, which allow fans to earn royalties from some of the world s hottest artists and their music. The Company s platinum music catalog consists of over 50 songs from top artists like Beyonce, Jay-Z, Justin Timberlake, Cher, will.i.am, Timbaland, Missy Elliott and Rihanna.
With the amazing technological breakthrough of NFTs, music fans can now not only enjoy listening to songs but can buy and hold blockchain-secured BAND NFTs, which allow them to earn crypto directly from the royalties paid on the songs from the catalog. The BAND Royalty ecosystem enables fans to earn through trading BAND Royalty NFTs (on OpenSea marketplace), as well as earn from BAND s own Music Royalty Pools, by staking the BAND NFTs.