Skip to main content

Dance producer Guy J sells token representing new track’s royalties for 40 ETH

NewsColony
Dance producer Guy J sells token representing new track’s royalties for 40 ETH

The crypto-powered music streaming platform Rocki has sold its first “royalty income right NFT” — a token granting its owner a 50% share in all royalties generated by a specific track’s streams on the site.

The token corresponds to a track titled “Cotton Eyes” that has been exclusively released on Rocki by Malta-based progressive house producer Guy J.

The ERC-721 royalty income right token was auctioned alongside an ERC-1155 “listening right” token, allowing the winning bidder to stream the song for free.

The tokens were sold on decentralized auction protocol Bounce.finance for 40 Ether — worth $25,600 as of this writing as ETH hits new heights for 2020. Guy J said he was intrigued by the concept:

“I’ve always been interested in new music technologies and services that provide artists with new revenue streams and heighten fan engagement.”

Rocki CEO and co-founder Bjorn Niclas described its royalty tokens as opening up new revenue streams for artists and driving unique forms of engagement with fans, stating:

“Regardless of the initial size of their audience, artists can capitalize on their existing fan base with the introduction of Music NFTs.”

Since exiting stealth mode last month, the Rocki platform has seen more than 30,000 tracks uploaded by “several thousand” independent artists. However, the platform is still yet to launch public Beta access, with Rocki claiming the functionality will launch “soon.”

The dance music industry is increasingly experimenting with non-fungible tokens, with electronic artist deadmau5 collaborating on two token launches in the past week.

On Dec. 16, deadmau5 launched collectible tokens hosted on the WAX Blockchain, with packs of 10 NFTs priced at $9.99 and packs of 30 tokens selling for $28.40. The tokens were released the day after a 30-second audio-reactive artwork created by reality artist Sutu accompanied by a sonic loop from deadmau5’s track SATRN was launched on the SuperRare NFT marketplace.

Source: Cointelegraph News Colony | Business News

The post Dance producer Guy J sells token representing new track’s royalties for 40 ETH appeared first on NewsColony.
NewsColony



source https://newscolony.com/dance-producer-guy-j-sells-token-representing-new-tracks-royalties-for-40-eth/

Comments

Post a Comment

Popular posts from this blog

What you should do if you have coronavirus

NewsColony What you should do if you have coronavirus Click to expand Replay Video UP NEXT Watch a COVID-19 Lab Test Watch a COVID-19 Lab Test Redding Record Searchlight Redding’s first cannabis store, Synergy, opens for business Redding’s first cannabis store, Synergy, opens for business Redding Record Searchlight Five tips to be a rock painter Five tips to be a rock painter Redding Record Searchlight SETTINGS OFF HD HQ SD LO Skip Ad UP NEXT You wake up with a dry cough or headache. It could be the common cold or allergies, or it could be the coronavirus.  So, what should you do next?  The Centers for Disease Control and Prevention and other public health experts recommend taking the following steps if you’re feeling sick and think you may have COVID-19.  Start the day smarter. Get all the news you need in your inbox each morning. Do an inventory of symptoms:  Dry...
Post a Comment
Read more

China’s military is world’s first to use experimental virus vaccine

NewsColony China’s military is world’s first to use experimental virus vaccine © AFP An experimental coronavirus vaccine has been approved for use by the Chinese military – a first for the armed forces of any country. Photo: AFP China has approved military use of an experimental coronavirus vaccine developed by the People’s Liberation Army and a Chinese pharmaceutical company, in a first for the armed forces of any country. The vaccine, identified as Ad5-nCoV, was jointly developed by a team at the Academy of Military Medical Sciences, led by Major General Chen Wei, and Tianjin-based company CanSino Biologics . It is the first time that a vaccine candidate for Covid-19, the disease caused by the coronavirus, has been authorised for use for the military of any nation. CanSino said on Monday that the candidate had been through two phases of clinical trials, which indicated it was safe and there was “relatively high” immune response to the antigen. The candidate is yet to start ...
Post a Comment
Read more

Coronavirus Live Updates: Online Retailers Plan Campaign to Rescue Postal Service

NewsColony Coronavirus Live Updates: Online Retailers Plan Campaign to Rescue Postal Service Here’s what you need to know: Image A United States Postal Service employee making deliveries in the Bronx last month. Credit… Desiree Rios for The New York Times Online retailers, including Amazon, want Congress to save the Postal Service. A coalition of online retailers backed by Amazon plans to start on Wednesday a seven-figure advertising blitz opposing President Trump’s demand that the beleaguered United States Postal Service ratchet up its package delivery rates to avoid bankruptcy during the coronavirus crisis, its top lobbyist said. The ads will begin running nationally Wednesday night on “Hannity,” one of Mr. Trump’s favorite programs on Fox News, and on Rush Limbaugh’s radio show on Thursday. They do not mention the president but label his proposal to raise delivery prices “a massive package tax” on small businesses and Americans who rely on the mail for pre...
Post a Comment
Read more