NFT marketplace AnotherBlock released tokens of Rihanna’s “Bitch Better Have My Money” hit, and it sold out straightaway
NFT holders will receive a 0.0033% royalty whenever the master recording of the song streams.
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Music-focused NFT marketplace AnotherBlock released tokens featuring Rihanna’s “Bitch Better Have My Money” hit. The song was co-produced by Kanye West and multi-platinum producer Jamil “Deputy” Pierre in 2015. Deputy has also worked with such noted artists as Rick Ross, J.Cole, NeYo, and Flo Rida.
The “Bitch Better Have My Money” drop featured 300 NFTs, each sold on the primary market for $210. Released on February 9, the NFTs sold out straightaway, generating a revenue of approximately $63,000.
Token owners get access to a bunch of utilities, from invite-only lists for upcoming releases to the exclusive gated music community. But most importantly, NFT holders will receive a 0.0033% royalty whenever the master recording of the song streams. Notably, the agreement lasts the lifetime of the copyright, so NFT holders will receive royalties until they decide to sell the token on the secondary market.
According to AnotherBlock, the probable return on investment is between 6.1% and 6.8% in the first year. “BBHMM” token holders will receive the first payout, generated from the song’s streams, on February 16.
This is not the first case where individuals can own a piece of their favorite music track by purchasing an NFT. In November 2022, DJ and producer Justin “3LAU” Blau rolled out a music rights marketplace dubbed “Royal,” which allows anyone to own song rights. In 2021, the startup received investment from such noted VC firms as a16z, Paradigm, and Coinbase Ventures, among others.
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