Gunjan Nath on January 12, 2022
Cryptocurrency was a major subject in 2021, but with the arrival of NFTs, the world of digital currency and assets has expanded. We’ve seen a variety of rappers and artists jump into the NFT space by now. Artists such as The Weeknd, Snoop Dogg, Jay-Z, Eminem and others have made a fortune in the digital realm.
Nas became a strong proponent of cryptocurrency and NFTs, rappingabout his Coinbase investment and how it has turned him into “Cryptocurrency Scarface.” Most recently, the rapper released non-fungible tokens that allowed consumers to purchase streaming royalties for King’s Disease’s “Ultra Black” and “Rare,” which can be found on King’s Disease II.
Nas’ NFT drops is being compared to a sneaker drop on the SNKRS app. Buying the rights to any song from Nas’ discography is certainly a good long-term investment, but you can imagine the competition was fierce. The quantity of people trying to buy the NFT on the blockchain platform Royal apparently caused the website to crash. Nas also addressed this in a statement.
I am always looking for new and unique ways to connect with the people. So I am excited to partner with Royal on their new endeavor in order for the world to connect with my music in a new way.
The rapper’s attempt to sell the royalties from his two songs was only the first step in a larger scheme. Nas was selling half of each song via NFTs, which he described as a way to interact with his followers in the new digital realm. Take a look at some of the reactions to Nas’ NFT release down below.
What’s your take on this story? Sound off in the comments!
January 12, 2022 12:07 pm
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