- Musicians have had to find ways to adapt their crowd-based revenue streams to the restrictive conditions of the ongoing pandemic
- Several artists have turned to Internet-accessible events to keep the paychecks coming in, adapting their royalty models to those conditions
- To show musicians there may be a different way to profit from their royalties BAND Royalty has acquired the performance royalties of songs performed by Justin Timberlake, Timbaland, Rihanna, Beyonce, Cher, Demi Lovato and other multi -platinum performers and are developing a way to connect these royalties to collectible digital art, NFTs, that can be used in a unique DeFi product that lets NFT holders access a piece of the music royalty revenues.
- The NFTs brought in the Ethereum equivalent of over $700,000 during a presale May 5. On May 17th, 2021 Band Royalty released the first ever Music NFT only platform on their website. Available for sale are the remaining 2000 NFTs, starting at 1 ETH, directly on their website.
Among the harmful effects of the pandemic on economies worldwide is the shutdown of public performance venues such as concert stadiums where artists have the ultimate opportunity to connect with fans and influence not only sales, but some measure of cultural conception.
A study by global entertainment ticketing company Live Nation in 2018, prior to the pandemic’s outbreak, found that among respondents in the United States, Canada, Mexico, Brazil, United Kingdom, Germany, France, Scandinavia, China, Japan and Australia, 72 percent of Gen Z / Millennial audiences have driven over 100 miles to go to a live music event, two-thirds of Gen X, Y, and Z attend at least one concert or festival each year, that a majority of them go to…
NOTE TO INVESTORS: The latest news and updates relating to BAND Royalty are available in the company’s newsroom at https://ccw.fm/BAND
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