In addition to Album-Wide Royalties, The Chainsmokers’ Fans Get NFTs!
New York-based electronic duo The Chainsmokers have taken things a step further by selling NFTs that feature royalty pieces from the whole album they released earlier this year. Owners of the 5,000 NFTs will gain access to 13 additional revenue streams as a result of the album’s 13 tracks, all of which appear on the new album ‘So Far So Good.’
5,000 NFTs will be given away free of charge to The Chainsmokers fans, setting this effort apart from other attempts to collect NFT royalties by distributing them only to those who have shown a strong commitment to the band’s music through metrics such as concert attendance, music streams, and Discord activity. That so, the 5,000 NFT holders will divide just 1% of the album’s earnings, equating to a 0.0002 percent royalty cut for each of them, which is a small disappointment.
To put it another way, if the cut is so small when shaved down, perhaps the real standout features of these assets are their additional perks, which include the opportunity to meet with The Chainsmokers (Drew Taggart and Alex Pall) directly, as well as a members-only section of The Chainsmokers’ Discord channel.