In January, there was a platform for music investment called Royal that made fans invest in hip-hop legend Nas’s music, who helped by purchasing the shares in the royalties earned from streaming for the tracks.
This release sold out a few minutes after its release. The earnings were surprisingly over $500,000 in direct sales, as Royal mentioned.
Diplo is considered the next artist to get work with Royal, who will sell a share in his streaming royalties in Royal. This news has been revealed by Justin Blau, also known as musician and producer of 3LAU.
A published blog on March 24 by 3LAU states that the Royal would be collaborating with higher ground, along with a deep house imprint of Diplo’s label Mad Decent.
There will be a release by Diplo of Don’t Forget My Love, and this will be the first single from his self-titled album on Royal, which will be on Tuesday, March 29 at 6 pm ET / 3 pm PT.
According to 3LAU, “this has given authority to the fans to own rights” in Diplo’s music by buying so-called Limited Digital Assets (LDAs). Also, there are tokens with the music rights embedded in them.
Like Nas’s release in January, Royal also offers different tiers for fans that help invest in Diplo’s music.
With the rate at $99, the Gold tokens provided buyers a “0.004% streaming royalty rights ownership,” according to 3LAU’s post. Now there are around 2000 gold tokens that fans can purchase.
Of the platinum tokens, only 100 were expected to be sold, and this provides buyers “0.05% streaming royalty rights ownership” for just $999. More things are included: gold extras, an exclusive DJ Mix, and “first dibs on the next Diplo drop on Royal.”
At last, the Diamond tier provides the buyer with “0.7% streaming royalty rights ownership”… The ten diamond tokens are present that are worth $9,999.
There are more extra included in it when one gets these Platinum tokens that consist of All platinum and gold extras, also access to a guest list of Diplo’s at a show of the buyer’s choice that includes a meet and also greet with Diplo, that is also known as “first dibs on all future Diplo drops on Royal.”
In November, Royal’s release followed the company’s $55 million funding round that helped get funding from different artists like Nas, Logic, Stefflon Don, The Chainsmokers, Joyner Lucas, and Disclosure.
3LAU, in the announcement of the Diplo sale, wrote: “the motive with Royal is to empower all the artists with the help of providing benefits in their career.”
Adding 3LAU: ‘still, we belong to early days. It started with Hip Hop Legend Nas, considered the first featured artist, and two other independent artists named Vérité (February) and Ollie (March). Since January, three drops have been done – out of which all of them sold out.
People are much pumped about the work that helps make a better music industry.’ true music lovers are so excited and happy to see some change in it. And willing to help with financial support that can help the artists.