Rihanna, the popular music artist, has made headlines once again with the release of a non-fungible token (NFT) through anotherblock, a Web3 music startup.
This NFT offering allows music fans and collectors to receive a portion of the streaming royalties for the popular track “B**** Better Have My Money.”
The music producer, Deputy, who collaborated with Kanye West, Travis Scott, and WondaGurl, is giving away a portion of his streaming royalties to NFT holders through anotherblock.
The track “B**** Better Have My Money” was released in 2015 and went triple platinum in the U.S. The song has also accumulated nearly 1 billion streams across music sharing platforms. The NFT release consisted of 300 royalty-linked NFTs, each available for purchase at $210.
Each NFT holder will receive “a portion of 0.0033% of the streaming royalties” for the song, according to anotherblock. The first royalty payout is expected on February 16, with payments distributed every six months based on streaming revenue.
The NFT drop was a huge success, with the entire collection selling out in minutes. NFT holders not only receive a portion of the streaming royalties, but they also receive unique artwork created by an NFT artist, a custom music track, and a legal contract guaranteeing real-world ownership for the NFT holder.
In addition, NFT holders have access to a gated Discord community, real-world events, and priority access for future NFT releases.