The online music royalties marketplace will now let rightsholders sell their royalty streams as NFTs, and CEO Anthony Martini is the first to give it a shot.
to review now, and the auction kicks off on June 7 at 11 a.m. ET, with bids starting at the Ether equivalent of $8,200 at time of writing.
"When you sell your catalog in a traditional deal, you get that one-time payment and that’s it," Martini adds."Whoever buys it from you can resell it at a profit, and the original seller never gets a piece of those transactions. But with NFTs, that is going to change." "Before, an investor would buy a catalog and they have the contracts, but they have nothing to show their friends," Martini says."When it's attached to an NFT, there's going to be almost a trading card-type image associated with it." Such is the case with the "Save Dat Money" NFT, which resembles a rotating record plaque.Rightsholders who wish to sell royalties as NFTs on Royalty Exchange can request that option when contacting the marketplace.
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