Kings of Leon is poised to make historical past as the primary band to launch an album as a non-fungible token, or NFT, a cryptographic method to purchase and promote digital artwork and media.
The Grammy-winning rock band’s new album, “When You See Your self,” will launch March 5 by way of streaming providers like Spotify and Apple Music, but in addition as a NFT on YellowHeart, a streaming platform primarily based on blockchain. The album will mark the primary time that followers should purchase an album on blockchain the identical day as its conventional launch on different platforms.
Together with the album, YellowHeart is providing two different crypto packages to customers. The platform auctioning off six “golden tickets” that may embody perks like 4 entrance row tickets to any Kings of Leon present for all times, and one other package deal contains six particular person artwork items celebrating the album’s launch and Kings of Leon’s legacy. The public sale is ready to go dwell at 12 p.m. ET on March 5.
As a NFT mint and pockets system permitting for large-scale, commercial-grade NFTs, YellowHeart is revolutionizing the music trade by creating a brand new method for artists to monetize unique content material such as digital art work, albums and collectibles. Lately, artists like Grimes and Linkin Park’s Mike Shinoda have raked within the large bucks promoting their digital artwork as NFTs, to the tune of $5.8 million and $30,000, respectively. And, they’re utilizing the cash to give again — a proportion of Grimes’ gross sales will go to Carbon180, a non-profit devoted to eradicating carbon from the ambiance, whereas Shinoda mentioned on Twitter that every one proceeds will go towards giving college students scholarships on the Arts Heart Faculty of Design. Shinoda has additionally since launched a brand new single, “Pleased Endings,” as a NFT.
Although Kings of Leon is the primary band to launch a full album as a NFT, different artists, like fellow rockers Portugal. The Man, have additionally shared their ardour for blockchain. In January, Portugal. The Man even launched their very own kind of cryptocurrency, referred to as PTM Coin. These with PTM Coin can be in a position to spend it on the band’s music, merchandise and unique movies.