Music NFT network BAND Royalty sells nearly $1M worth of NFTs in presale
BAND Royalty, a blockchain-secured NFT network that enables holders to earn crypto from some of the world’s most popular songs, has just concluded the private presale round of its NFT music art BAND NFT Series 1 collectibles to a small selection of NFT collectors that love music.
Within days of this announcement, the top three Diamond Album BAND NFTs sold for a combined 60 ETH (currently valued at over $200,000 USD). Included in the top three Diamond Album NFTs was the No. 1 minted Double Diamond Album BAND NFT, which sold for 25 ETH (currently valued at over $85,000 USD).
As is typically the case with highly sought-after, limited-edition collectible NFTs, the lower the mint number, the higher the perceived market value of that specific NFT minted.
The combined presale of BAND NFTs approached $1 million in less than two weeks of its announcement; purchased by a community of a couple of hundred NFT collectors who wanted to get in and secure their BAND NFT ahead of the full public launch on the NFT marketplace, OpenSea.io, on May 15th.
While nearly all other NFTs on the market simply offer a collectible value based upon their potentially unique artistic value and tradability, BAND Royalty NFTs can provide direct access to the revenues of musicians that nearly everyone in the world knows and loves.
BAND NFTs give fans the ability to not only enjoy listening to the artists’ music but also potentially earn royalty revenues every time one of their songs in the BAND catalog is played. BAND Royalty has already amassed a music royalty catalog that includes artists such as Rihanna, will.i.am, Timbaland, Cher, Missy Elliot, as well as Beyoncé, Jay-Z, and Justin Timberlake, plus many others.
Each BAND NFT is a one-of-a-kind digital collectible. On top of this, every BAND NFT comes with 3D rendered art that makes it a true collectible item. And under the hood, the ‘special sauce’ that makes BAND NFTs stand out is their ability to generate music royalties from a growing list of top songs on the BAND Royalty music catalog that includes platinum and gold tracks.
NFTs, or nonfungible tokens, represent uniquely cryptographically secured works such as music, artwork, videos, and other digital files stored on the blockchain.
BAND Royalty founders Barnaby Andersun and Noble Drakoln, experts in the fields of blockchain and music royalty investing and co-hosts of the “CryptoTenX Podcast,” have outlined a robust and ambitious roadmap of releases for BAND Royalty in 2021.
Starting with this NFT Series 1, BAND Royalty will eventually introduce Band TOKENS and launch a new platform for musicians and fans to interact through NFTs.
BAND Royalty plans to grow its catalog of famous and income-driven royalty rights through the release of a maximum of 12,000 total unique BAND NFTs in four different NFT series in 2021. Funds generated will be reinvested to expand BAND Royalty’s music royalty library.
Securing one of the converted and rare 3,000 Series 1 collectible BAND NFT 3D animated music-inspired pieces of digital art is simple. On May 15th, the full collection of the 3,000 limited-edition BAND NFTs will be available on a first-come, first-served basis through an offering on OpenSea.io.
To ensure securing a BAND Royalty NFT, buyers need at least 1 Ethereum available in a private ETH wallet (Metamask or Trust Wallet) when they visit OpenSea.io – the largest Ethereum NFT marketplace in the world. Once on OpenSea, simply type in “bandroyalty” and review the beautiful selection of BAND NFTs art pieces. The lower the number of the BAND NFT, the rarer it is, bringing with it increased collectability and functional access across the growing BAND Royalty music ecosystem.