The Chainsmokers have announced plans to give their biggest fans non-fungible tokens (NFTs) that represent a portion of their recorded streaming royalties from their upcoming album.
Their album, titled So Far So Good, will entitle the owner to a 1% proportional collective of audio streaming royalties from all 13 songs off the album, among other perks.
The production duo has gathered email addresses from over 30,000 fans through data on most frequent ticket buyers, most prolific streamers, their discord server and more. They will be added to a VIP list and will be given the first chance to redeem one of the tokens.
With royalties becoming available as NFTs, the duo has reassured that they will not be taking a percentage of secondary sales and will distribute them equally amongst the songwriters who wrote the album.
This follows news of Universal Music’s plans to sell 10,000 NFTs from their digital band Kingship. However, some evidence from professionals have predicted that music NFTs could have poised a trend downward in terms of their sale prices and volume.
