Kings of Leon team this Friday will release her new album, entitled “When You See Yourself”. It turns out that the musicians follow the new trends and their latest music will be released in the form of a non-convertible token (NFT).
Kings of Leon airs the NFT
The digital product series has been named “NFT Yourself”. The team will issue a total of three types of tokens. The first type is a special digital release of a new album; the second offers privileges related to the group’s live performances (access to venues close to the stage); the third concerns exclusive audiovisual works that the band will release. All three types of tokens also feature artwork designed by a collaborator of the musicians – the Night After Night artist. Smart Contracts linked to tokens were developed by YellowHeart, a company that wants to use blockchain technology to restore value to music and better relationships between artists and fans.
Shortly after being founded in 2018, YellowHeart has attracted a lot of industry interest. For example, the company worked on a system that uses blockchain in the process of selling tickets for concerts. The company’s CEO Josh Katz says this is only one aspect of the company’s operations. The company also offers consulting services regarding new technologies.
A new form of music distribution
It is worth adding that NFT may turn out to be the same breakthrough for the music market as streaming. The new Kings of Leon album will be released wherever albums are released today – Spotify, iTunes, Apple Music and the Amazon Store. It is worth adding, however, that the NFT version – available only on the YellowHeart platform – will give fans special benefits. The $ 50 token, for example, includes a moving album art and links to help fans download new songs.
The sale of the album in the form of NFT starts on Friday at 12:00. E.T. and will last for two weeks. Interestingly, after this time, it will no longer be possible to buy NFT directly from the team. In other words, the tokens will become something like ravens in the publishing market.
– Over the past 20 years – two lost decades – we have witnessed a devaluation of music Katz told Rolling Stone. – Music has become great at selling everything except music. There has been a race to the bottom where you have access to it all for as little money as possible. Previously, it cost $ 20 to buy one song.
He believes that NFT tokens will make modern fans want to pay for music again.
– It’s an early stage, but I think in the future people will release their songs this way – He said.