Hip hop star Nas has announced his new partnership with blockchain-powered cryptocurrency platform Royal, which the rapper invested in last year.
In collaboration with Royal, Nas will convert the streaming royalty rights to two of his songs, ‘Ultra Black’ and ‘Rare’ into digital assets, extended versions of NFTs. Three tiers of tokens, Gold, Platinum and Diamond will be offered, with different levels of ownership.
‘Ultra Black’ will have a limited supply of 760 tokens, while Rare will have 1,110. Both will be released on 11 January and will be available to purchase on a first-come, first served basis through Royal.
“There is a huge opportunity to revolutionise the music industry. We believe shifting power to artists and democratising ownership is a powerful step,” Royal told NME.
Without further ado.. we're honored to announce Hip Hop legend, innovator and entrepreneur @Nas will be the first artist to drop his music on royal on January 11th! https://t.co/TkyWvOJOvY pic.twitter.com/hQGGXVuPhz
— royal (@join_royal) January 6, 2022
“Having Nas be the first artist to sell royalty rights through Royal is an incredible affirmation of our mission. It’s proof that artists across genres feel strongly about democratising ownership of their music, and that they want to be connected to their listeners on a deeper level,” Royal chief executive officer and co-founder Justin Blau (3LAU) said.
“I am always looking for new and unique ways to connect with my fans, so I am excited to partner with Royal on their new endeavour in order for my fans to connect with my music in a new way,” Nas said in a statement.
The award-winning artist has shown great interest in the cryptocurrency industry, investing in companies such as Coinbase. According to Royal’s head of growth Naithan Jones, Nas asked to be the first musician to release his songs on the platform.