Kings of Leon to release new album as NFT
There's been a lot of chatter lately about NFT's-- or non-fungible tokens-- and Kings of Leon are hopping onto the trend as well.
If you're not familiar with NFT's (and most of us aren't), crypto collectibles have been becoming more popular in music lately, as a defense against digital piracy, low streaming royalty rates, plus the lack of touring revenue due to Covid-19 pandemic restrictions.
CNBC describes the NFT option as this:
"Ownership of these assets is recorded on a blockchain — a digital ledger similar to the networks that underpin bitcoin and other cryptocurrencies. But unlike most virtual currencies, you couldn’t exchange one NFT for another in the same way that you would with dollars or gold bars. Each NFT is unique and acts as a collector’s item that can’t be duplicated, making them rare by design."
Kings of Leon will be offering their latest album, When You See Yourself, in the form of an NFT, offering its album package with a vinyl and digital download for a token priced at $50. It’ll be released Friday (tomorrow) on YellowHeart-- which is a ticketing and music NFT platform-- and open for two weeks starting at noon ET. After that two-week period ends, no more will be made.
The band will also have exclusive items as part of a series called “NFT Yourself.” People can bid on one of six “golden ticket” experiences, which offer fans four front row seats to the show of their choice during each tour for life.
From When You See Yourself, here's Kings of Leon's video for "The Bandit"...
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