After the likes of Nas and Diplo dabbled in embedding royalties into songs via NFTs, American electronic music duo The Chainsmokers have decided to scale things up by releasing NFTs which feature royalty cuts from the entirety of their latest album. With 13 tracks featured on the new album ‘So Far So Good,’ holders of the 5,000 NFTs will essentially receive 13 new avenues of revenue through their ownership.
To distinguish the initiative even further from previous NFT royalty forays, the 5,000 NFTs in question will be distributed to The Chainsmokers fans for free, with metrics such as individual’s concert attendance, music streams, and Discord activity each being measured to ensure that only the most-dedicated fans receive the fruits of the album’s labour. That being said, and in a slight dampener, the 5,000 NFT holders will be splitting a mere 1% of the album’s royalties, meaning each will essentially be receiving a 0.0002% royalty cut.
Given that the cut is relatively minuscule when whittled down (although it’s a free NFT so you can’t complain), perhaps the real stand-out features of the assets are in their additional perks, as each offer holders the chance to access a members-only section of The Chainsmokers’ Discord channel, as well as opportunities to meet with the duo (a.k.a Drew Taggart and Alex Pall) directly.