B*tch Better Have My Royalties
Jamil “Deputy” Pierre, the producer that worked on Rihanna’s 2015 with rapper/producer Kanye West sold out 300 NFTs that give streaming royalties to holders.
❗ Why it Matters
Deputy sold 0.99 percent of streaming royalties as 300 NFTs on the web3 music platform, AnotherBlock. The collection sold out quickly for .128 ETH or $210 USD per NFT. Each NFT gives holders 0.0033 percent ownership of the future royalties from all digital streaming providers.
AnotherBlock allows fans to collect music NFTs that give access to streaming royalties and other exclusive benefits like upcoming drops, taking part in exclusive community raffles, games, and more.
The royalties are paid every six months for life, based on the revenue from all streaming platforms.
💰 Money Talks
Another Block estimates a return of around 6 percent for all NFT holders on an annual basis, about $12 based on the original mint price ($210). However, the NFT has already increased to a floor price of 0.47 ETH, resulting in nearly a 400 percent increase in one day.
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