Bankless Tokenizing Music with Royal | 3LAU (SotN 8/31)
Sep 1, 2021
Justin '3LAU' Blau, a trailblazing DJ and entrepreneur, dives into the innovative world of tokenizing music through his platform, Royal. He shares insights on how music ownership is transforming with NFTs, allowing fans to co-own and invest in music alongside artists. The conversation covers the disruption of traditional record labels, the evolving artist-fan relationship, and the potential for democratizing music investment. 3LAU also discusses the challenges of creating a scalable tokenization model in a rapidly changing industry.
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Co-owning Music
- Royal seeks to redefine music ownership by letting fans co-own music with artists.
- This new type of NFT gives fans a share of streaming royalties, aligning incentives.
Fan Collaboration
- Buying a limited-edition song NFT on Royal makes fans collaborators, earning royalties.
- Royalties accrue from streaming platforms like Spotify and Apple Music.
Record Labels vs. Royal
- Record labels act like VCs, giving artists upfront money for a large cut of their master recordings.
- Royal offers a more balanced model, letting artists share ownership with fans.