What is Royal? Royal is a Music NFT Marketplace platform that allows anyone to invest in music and earn royalties alongside artists. So what’s special about this project? Let’s find out with Weakhand in this article.
Before jumping into the article, everyone can refer to some of the following articles to understand better.
- What is Sound.xyz? Sound.xyz cryptocurrency overview
- What is Music NFT? How Music NFT changes the traditional music market
What is Royal?
Overview of Royal
Royal is a Music NFT Marketplace platform that aims to provide artists with a way for them to share ownership of their music with fans through the release of digital collections in the form of Non-Fungible Token (NFT).
What is Royal?
Royal was founded in 2021 by co-founders JD Ross and Justin David Blau (3LAU) and is headquartered in Austin, Texas. Royal’s goal is to become one of the leading Music NFT Marketplaces for new generation artists and music lovers.
Royal’s mechanism of action
Royal works by allowing artists to decide the percentage of songs offered for sale as well as determine what perks and additional benefits they will offer to fans.
Through Royal, the song will be tokenized as an NFT and fans can purchase the NFT and claim their portion of the royalties once accrued with payout times depending on the artist.
Owning Music NFTs on Royal also gives the owner a license to use the digital art non-commercially. This does not affect artists’ publishing, songwriting or royalties.
For example: Alice released the song “Give it to me” on Royal. Alice allocates 20% royalty ownership in the form of 2000 NFTs divided into 2 tiers. In it, Gold NFT owners get access to a private Discord and receive 0.004% of the song’s streaming revenue. Diamond NFT holders will receive a guest list card for Alice’s music show and receive other special rewards such as: Exclusive DJ mixes, access to private Discord and 0.7% of sales is generated during each song playback.
Core Team
Justin David Blau (3LAU): Co Founder & CEO
- Justin graduated from Washington University in St.Louis.
- Justin has been CEO of OM since August 2017 before becoming Co Founder and CEO at Royal in May 2021.
- In addition, Justin also invests in a number of Crypto companies such as: Yuga Labs, Bitski, DeFine,…
J.D. Ross: Co Founder
- JD graduated with a bachelor’s degree in computer science from Washington University in St.Louis.
- In February 2014, JD became Co Founder at OpenDoor – a platform that allows Americans to buy and sell homes.
- In May 2019, JD moved to work at Atomic as General Partner.
- After that, JD quit his job and became Co Founder at Royal in May 2021.
Investor
- August 27, 2021: Royal announced its successful call for $16M USD from investors such as: Paradigm, Founders Fund, Atomic,…
- November 22, 2021: Royal announced a successful call for $55M USD led by A16z. There is also the investment participation of a number of other funds such as: Paradigm, Coinbase Ventures,…
Tokenomics
Update…
Information Channel of Royal Project
- Website: https://royal.io/
- Twitter: https://twitter.com/join_royal
-
Discord:
summary
Music NFT is a new segment in the market that is not yet known to many people in the Crypto market. However, the appearance of Royal has attracted not only users in the Crypto market but also fans and artists in the real world. Hopefully the information I provide in this article has helped people gain interesting knowledge about Royal.
