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Kings Of Leon have earned an incredible $2million from NFT sales of their new album
Virgin Radio
12 Mar 2021, 17:11
Some people claim the music industry is dead, and that streaming killed it. However, Kings Of Leon and many other artists seem to have found a new way to make serious cash from their music.
The band released their latest album ‘When You See Yourself’ as an NFT, a.k.a a Non-Fungible Token. Wondering what on earth that is? Click here.
They've now earned an incredible $2million (£1.4million) from sales of the tokens.
Being the kind-hearted band that they are, they've even donated a cool $500,000, to Live Nation's Crew Nation fund. The fund has been set up to support live music crews during the pandemic, who are out of work due to the cancellation of gigs and tours thanks to the coronavirus.
Each of the album's tokens - basically a form of cryptocurrency like a Bitcoin - included exclusive album artwork and a limited edition ‘Golden Eye’ vinyl.
The album went on sale as an NFT via the blockchain technology company Yellow Heart last Friday.
In addition, there were six ‘Golden Ticket’ auctions. Each of the golden tickets guaranteed the owner four front-row seats to one show of every Kings Of Leon headline tour for life.
It's thought that these golden tickets earned "a significant portion" of the megabucks money this week.
The band wrote in a since-deleted statement on YellowHeart’s website: “Breaking new ground is never easy… if it were, it wouldn’t be ground-breaking,”
If you want a piece of Kings Of Leon’s history, their ‘NFT Yourself’ album is on sale until March 19 at 8PM.
After then, any limited edition collectable NFTs that are not sold will be “burned”. That means they'll be deleted forever, never to be remade.
It's the future!
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