Rihanna hit song now available as an NFT with royalty sharing
The 2015 hit single “B**** Better Have My Money” by music artist Rihanna has been made available as a non-fungible token (NFT) by the Web3 music company anotherblock. This platform collaborates with music rights holders, including artists, producers, and writers, to provide a portion of their streaming royalty rights in the form of fractionalized NFTs.
“B**** Better Have My Money” achieves new milestone
Music producer Deputy, who was part of the production team for the well-known track, is giving away a portion of his streaming royalties to NFT collectors through anotherblock.
The 2015 hit single “B**** Better Have My Money” by Rihanna was released as a triple platinum track in the U.S. and has generated nearly 1 billion streams across various music-sharing platforms, as reported in a press release.
On Thursday, 300 NFTs tied to the song’s royalties were up for sale, priced at $210 each. NFT holders are set to receive a fraction of the song’s streaming royalties, equivalent to 0.0033%, and can expect payments to be made every six months.
Sold out collection
The sale of the NFTs linked to the popular Rihanna song “B**** Better Have My Money” was met with high demand and quickly sold out.
The first royalty payment for the NFT holders is set for February 16th. The NFTs come with additional perks, including one-of-a-kind artwork by an NFT artist, a bespoke music track, and a legally binding contract that outlines the terms of the streaming royalties and confirms the NFT holder’s real-world ownership.
NFT holders of Rihanna’s “B**** Better Have My Money” will enjoy several perks besides the royalty rights. These include entrance to an exclusive Discord community, participation in real-world events, and first dibs on future NFT releases. The release of the NFTs coincided with the anticipation of Rihanna’s performance at Super Bowl LVII.
Web3 music on the rise
The NFT release by anotherblock, featuring Rihanna’s iconic hit “B**** Better Have My Money”, is generating a buzz in the music world. The 300 NFTs linked to the song’s royalties sold out in a matter of minutes, providing a rare chance for fans and collectors to secure a piece of the singer’s legacy. The fast sellout highlights the growing interest in NFTs and their potential as a new avenue for artists to connect with fans and monetize their music.
Beyond this recent success, there has been a surge in the number of music NFT platforms, including Catalog, Sound.xyz, and Royal. These platforms allow artists, producers, and writers to sell NFTs that are linked to their music, thereby offering enthusiasts and collectors an opportunity to own a part of their preferred musician’s creations.
As the music industry continues to evolve, NFTs have emerged as a promising new way for artists and rights holders to monetize their work and engage with their fans. With the Super Bowl performance looming, Rihanna’s NFT drop is a testament to the growing impact of NFTs in the music industry and the increasing opportunities they offer for artists and fans alike.