Photo Credit: Raph_PH / CC by 3.0
Kings of Leon are releasing a new album as a non-fungible token (NFT) – the first band to do so.
There will be three types of tokens available as part of the album drop, dubbed the ‘NFT Yourself’ series. One token is a special album package, while another type offers live front-row seats for life. The third type is the standard audiovisual art NFTs we’ve seen take off in recent months.
All three NFT tokens offer art designed by Kings of Leon’s creative partner, Night After Night. The smart contracts holding the NFTs were developed by YellowHeart. It’s a company that wants to use blockchain technology to promote direct-to-fan relationships.
NFTs are taking off as a way to release exclusive merch to hardcore fans. It’s given many musicians a new revenue stream in an era where live touring is no longer certain. Linkin Park’s Mike Shinoda, Portugal. The Man, 3LAU, and Grimes have all sold exclusive NFT merch.
The Kings of Leon album will be released on traditional streaming services like Spotify and Apple Music. But the NFT version of the album sold on YellowHeart comes with some special perks. The token is priced at $50 and includes enhanced media like a moving, live album cover. It also includes a digital download of the music and limited-edition vinyl.
Sales for the Kings of Leon album NFT open on Friday at noon EST. The tokens will be on sale for two weeks, after which no more will be minted, and the NFT becomes a tradeable collectible. NFTs may be the answer to fans who want to own their music again, while giving artists a bigger piece of the pie.”
YellowHeart is minting 18 ‘golden tickets’ in the Kings of Leon NFT album release.
Out of these 18, only six will be auctioned off to potential buyers. 12 others will be vaulted for the band to give away at their discretion in the future. Each of these unique ‘golden ticket’ NFTs includes an actual concert ticket.
Whoever owns the token is guaranteed four front-row seats to any Kings of Leon concert. And not just for one tour or two, but for each tour the band does for life. The token owner will also get the VIP experience at their concerts, including a personal driver and a concierge at the show to handle their needs. Token holders are also entitled to four bags filled with merch at the end of the show.
So while NFTs may be digital merch, they’re becoming more than just artwork distributed to hardcore fans.