Fans have always been invested. They’ve been invested in their teams. They’ve been invested in their TV shows. And they’ve been invested in their musical heroes.
Until now, though, that investment has only been emotional. We might have become excited when a favorite band’s new song rose up the charts—or racked up plays on Spotify—but we didn’t actually make any money out of it.
That’s changing—and it’s changing with the help of NFTs and decentralized finance (DeFi). BandRoyalty.com is a new venture that enables people to buy NFTs of songs and earn from the songs’ royalties. The service is launching on May 5 with 3,000 NFTs, representing 50 songs from artists including Beyoncé, Jay-Z, Rihanna, Justin Timberlake, Cher, will.i.am, Timbaland, Missy Elliott, and Rihanna.