The first series of BAND Royalty non-fungible tokens (“NFTs”) is a limited collection of 3,000 NFTs featuring one of 15 unique music blockchain art pieces. Each piece of art celebrates and showcases the diversity of the music industry, featuring talent, heritage, and various genres across the entire industry, and pricing begins at 1 ETH.
As a music industry disruptor, BAND Royalty is the first to use NFTs to create the first-ever DeFi opportunity based on music royalties, providing a new way for fans to connect to their favorite music artists and share in their income, through royalties. The Series 1 NFTs were initially sold via OpenSea, the world’s largest NFT marketplace, but BAND has since switched gears and created its own first-ever music-only NFT marketplace, which can only be found on the company’s website at https://bandroyalty.com/buynfts.
To gain access to the BAND Royalty NFT Marketplace, users must first connect a wallet. Vinyl and platinum NFTs are the only levels available for purchase at this time, as all three of the diamond-level NFTs have been sold. To make a purchase, users must have at least 1 ETH and gas in their wallet.
While there are no guarantees on returns, BAND allows NFT holders to stake their NFT in one of three BAND Royalty Music Pools (“BRMP”). These BRMPs receive 50% of all royalty-streaming income from each track for each category. A percentage of what is left is used to grow the BAND royalty catalog. The three BRMPs available for staking include 1) publishing, 2) mechanical/public performance, and 3) synchronization. Staking does not equal ownership of the royalties but rather access to income from the available various royalty streams.
Each BAND NFT must be staked for a minimum of 90 days to a maximum of 5 years. The longer the NFT is staked in a pool, the proportionally increased the amount of royalty shares. The NFTs are locked during the staking period, and any income earned will be calculated and held in reserve – awaiting completion of the staking period. Termination of the NFT staking before the allotted time will result in forfeiting all earnings, which will then be dispersed back to other stakers.
The BAND Royalty music catalog includes songs performed by prominent artists, such as:
The BAND Royalty NFTs music catalog can be found on the BAND Royalty YouTube Channel, along with other interviews and additional informative videos.
BAND plans to sell three more series of NFTs, each with 2,000 to 3,000 NFTs. Each of the series will be coupled with unique artwork and designs. The anticipated maximum capping for BAND NFTs falls between 9,000 and 12,000.
For more information, visit the company’s website at www.BANDRoyalty.com.
NOTE TO INVESTORS: The latest news and updates relating to BAND Royalty are available in the company’s newsroom at https://ccw.fm/BAND
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