Anotherblock, a Web3 platform, partnered with The Very Good, a music management company, for the drop of a limited edition of 500 NFTs featuring DJ and musician Alan Walker on October 20.
The holders will get a chance to earn profit shares through the NFTs. According to the press release, owners get 0.001% of the revenue generated from the DJ’s upcoming song “Alone, Pt. II”.
This is a new and unique way of utilizing NFT technology. Usually, fans don’t earn anything even if they stream hard to support their favorite artists but Anotherblock is making it possible.
According to Anotherblock, the publisher will also earn huge benefits from this project such as gaining more supporters by making fans part of the artist’s musical journey financially.
“Royalty NFTs offer publishers a way to monetize their IP without sacrificing other business models,” says Anotherblock co-founder Michel D. Traore.