3LAU’s involvement in the NFT and crypto spaces over the past couple years have been well-documented. Always pursuing the next big, equitable financial system, the DJ/producer has pioneered many different avenues for artists in the electronic dance world to capitalize on their music, and, in some cases, for the fans to benefit as well.
His next song, “Worst Case,” will be the first use case of Royal’s mission to make music a publicly accessible investable asset class. Royal is offering 50% of the masters’ recording royalties to “Worst Case” which will be released on October 8, to Royal users, making them equal shareholders of the song alongside its creator.
In a blog post on Medium, 3LAU writes, “One of my goals as a musician is to not only make unique art, but to build an everlasting symbiotic relationship between artists and listeners.”
He continues, “One of the most common questions I’m asked is if music actually generates revenue. There’s a pervasive misconception that streaming services don’t pay artists, when in reality, intermediaries end up with the lion’s share of the revenue due to legacy record agreements. The fact is that the music industry has been growing like never before over the last few years and independent artists who maintain ownership have seen revenue growth in multiples of 20–50x. […] It starts here: you and I become co-owners of the music that I create and you inspire. And we will change the music business together.”
“Worst Case” drops October 8. You can sign up for early access on Royal here. 50% of the streaming revenue ownership will be shared to users who win the early access contest.
Photo via Rukes.com
This article was first published on Your EDM. Source: 3LAU Gives Fans 50% Ownership In His Next Song In Industry First
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