The ‘Sex on Fire’ hitmakers, Kings of Leon will become the first band in history to release a music album as an NFT (non-fungible token).
In addition to conventional releases on major platforms such as Spotify, Apple Music and Amazon, their new album When You See Yourself will also be released and auctioned on YellowHeart as an NFT.
According to Coindesk, the album will be delivered as three different types of tokens: the first is a special album package, the second is live show perks and the third contains exclusive audiovisual art.
The Kings of Leon ‘NFT Yourself’ collection, will auction off 25 unique pieces starting with the $50 exclusive NFT collectable and limited-edition Golden Eye Vinyl, with all proceeds going to Live Nation’s Crew Nation Fund, which has supported out-of-work road crew members amid the global coronavirus pandemic.
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Previous music albums sold as NFTs have been by DJs but Kings of Leon is the first band to launch an album in the blockchain-based format.
According to Coindesk, YellowHeart is also “minting 18 golden tickets that unlock front-row concert tickets at every Kings of Leon tour for life as part of the NFT release. The band will auction six of these, with the remaining 12 to be vaulted, much like rare pieces of art.”
“Each one of those is a unique NFT with the most incredible Kings of Leon art you’ve ever seen,” YellowHeart CEO Josh Katz said in an interview.
The sale of non-fungible tokens or NFTs has become increasingly popular and lucrative, contributing to a crypto-art market that’s currently valued at over $100 million. A non-fungible token is a special type of cryptographic token which represents something unique; non-fungible tokens are therefor not mutually interchangeable, unlike cryptocurrencies such as bitcoin, and many other network or utility tokens that are fungible in nature.
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The band joins a growing list of artists who are already cashing in on NFTs. Earlier this week singer, songwriter and producer Grimes auctioned off a collection of digital artworks for millions of dollars on the NFT trading platform Nifty Gateway and in February, the digital comic artist Chris Torres sold an NFT of his Nyan Cat for nearly $600,000, while Lindsay Lohan sold an NFT for $59,000.
Kings of Leon will auction their NFT album and offerings on YellowHeart today, March 5. Find more trending content, right here.
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