Rihanna’s Song NFTs Sells Out Minutes After Announcement
CoinEdition
Published Feb 10, 2023 12:37PM ET
Updated Feb 10, 2023 01:00PM ET
Rihanna’s Song NFTs Sells Out Minutes After Announcement
- Rihanna’s producer sold 300 music NFTs in collaboration with AnotherBlock.
- NFT owners will own a stake in the song’s royalties and earn revenue every time the song streams.
- AnotherBlock raised $63,000 in revenue in the initial NFT sales.
Jamil “Deputy” Pierre, the producer of Rihanna’s hit song (Bitch better have my money), has collaborated with European crypto startup AnotherBlock to sell a fraction of his streaming rights as NFTs. The team minted 300 NFTs for the project, all of which sold out within minutes of their release.
According to data from Etherscan, 208 unique addresses hold all 300 NFTs for “Bitch better have my money” in a transaction that involved 458 different transfers. According to reports, the team sold each NFT for $210, allocating 0.0033% of the streaming royalties per NFT to the holders.
The new NFT owners will own a stake in the song’s royalties and earn revenue every time the song streams. That is a practical expression of the possibilities of blockchain technology and NFTs in the music and entertainment industry.
In the sales exercise that lasted only a few minutes, AnotherBlock raised $63,000 in revenue. The sta…
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