Tribe called Quest sells lucrative song royalties as NFT
A Tribe Called Quest sold an NFT for royalties on its first five studio albums through Royalty Exchange. The sale closed for 40,191 ETH, the equivalent of $ 84,765.
The sale, which started at $ 35,000, includes 1.5% of the sound recording royalties from the band’s first five albums: The Band’s Debut in 1990 Instinctive Journeys of Peoples and Rhythm Paths in the same way The low-end theory, Midnight Marauders, Rhythms, rhymes and life, and The love movement.
The winner will earn money each time the songs in question are streamed, played on the radio, physically sold, sampled or shown on television, in theaters or in commercial placements. Royal Exchange notes that the percentage of the last 12 months of royalties equals $ 6,752.
Royal Exchange recently auctioned off royalties from other artists’ catalogs, including “Save Dat Money” by Lil Dicky and “Hi Fidelity” by REO Speedwagon.
Earlier this year, the second solo album by A Tribe Called Quest member Phife Dawg, Always, was announced as a posthumous release. The LP was assembled by his friends and family five years after his death. Previously the reunion LP of A Tribe Called Quest, We got it from here … Thank you 4 Your service, decreased in 2016.