The Diplo NFT collection will consist of 2,110 LDA tokens that will get 20% of streaming royalties. The sale will start on March 29.
Thomas Wesley Pentz (or Diplo), a three-time Grammy-winning artist, musician, DJ, and producer, has joined a number of stars who created their own non-fungible tokens (NFTs). Diplo will release his single “Don’t Forget My Love” with its royalty rights embedded in “Limited Digital Assets (LDA),” which are essentially Polygon-based NFTs. The platform Diplo has chosen for stepping into the NFT world is Royal.
Royal founder and fellow DJ Justin Blau commented on the news:
“Diplo is a cultural leader and innovator who always pushes boundaries. We’re incredibly stoked that his fans will have the opportunity to own a piece of his music. This drop shows there’s a real, mainstream application for blockchain technology, and the use cases extend beyond independent and enthusiast communities.”
The Diplo NFT collection will consist of 2,110 LDA tokens that will get 20% of streaming royalties. There will be as many as three options available to fans, or three NFT tiers that depend on different percentages of ownership. The cheapest one is costs $99 and provides its owner 0.004% of the song’s streaming royalties. The latter include streams on Spotify and Apple Music.
Further, there is a platinum tier with only 100 tokens. Its price is $999 per each, and it gives its owners 0.05% of royalties. Besides, the collectors of the platinum tier will get access to a special Discord channel, Diplo’s exclusive DJ mix.
Finally, the most expensive tier is the diamond one, with a $9,999 price per token. Notably, the number of these tokens is limited to ten. Its owners are entitled to as much as 0.7% of streaming royalties. In addition, they also get “first dibs on all future Diplo drops” as well as an exclusive pass for one of Diplo’s shows, and one meet and greet per year.
The sale will start on March 29.
About Royal Platform
Royal is a marketplace for music NFTs that enables anyone to own a piece of their favorite songs to earn royalties alongside the artist. While enabling anyone to invest in music as an asset class and have ownership rights in songs, Royal empowers artists to maintain a certain control over their rights. Royal’s NFT model is based on issuing Limited Digital Assets (LDAs), which are its own version of NFTs.
Since January 2022, Royal has completed three NFT drops, with all of them sold out. The first drop included a Hip Hop legend Nas and sold two NFT albums – King’s Disease and King’s Disease II. Both were released via Nas’s independent label Mass Appeal.
Further, Royal teamed up with other two artists, Vérité and Ollie. In total, all three collections have made up so far 413 Ether (around $1.2 million) of trade volume on secondary marketplace OpenSea.
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