Diplo Joins the NFT Market
Diplo (Major Lazer fame) will be the third artist to collaborate with Royal to sell shares of his streaming revenues on Royal, the Blockchain-based music investment platform co-founded by Justin Blau, aka musician and producer 3LAU.
Royal will collaborate with Higher Ground, the deep house imprint of Diplo's label Mad Decent, according to a blog post released by 3LAU.
'Don't Forget My Love,' the first single from his recently released self-titled album on Royal will be released today. 3LAU claims that 'fans will be able to own rights' to Diplo's music by buying so-called Limited Digital Assets (LDAs).
Token owners gain access to special material and other privileges, which vary depending on the tier they purchase and a cut of the royalties made from streaming the music.
The company executed a similar project with Rap legend Nas who allowed fans to buy shares in the royalties made by streaming two of Nas's tracks on Royal, allowing them to invest in the hip-hop legend's music on the platform.
The Nas release, according to Royal, sold out in minutes and produced over $500,000 in primary sales.