- Rihanna’s hit single is sold as a fractionalized NFT.
- Stream shares are divided into 300 parts, 0.0033% each.
- The initial NFT mint of the song sold out in a few minutes.
Web3 startup Anotherblock.io recently launched a first-of-its-kind NFT project, which allows music and blockchain fans to collect streaming revenue from Rihanna’s 2015 Trap hit “B**** Better Have My Money,” which generated 4,674,863 streams last month.
The Trap song symbolizes Rihanna’s musical transition from a more traditional-sounding R&B song to the new-age Trap music patterns, blending both trending hip-hop and pop music genres. Furthermore, the song is produced by Deputy, a multi-platinum beatmaker who worked with Kanye West and Travis Scott on this particular track.
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Royalty rights to Rihanna's Bitch Better Have my Money streams? yesss pleaseee @anotherblock_io Congrats on the mint out pic.twitter.com/nJoNyMlqNd— ENDIAN.ETH (@EndianHere) February 9, 2023
Triple Platinum Record Fractionalized into 300 NFTs
Indeed, the hit song by Rihanna was declared triple platinum in the United States in the first three weeks since its release. The inaugural sale of the song, divided into 300 NFT pieces, was sold out in just a couple of minutes, while one fractionalized NFT had a floor price of $210.
“B**** Better Have My Money” fetched over $673 million in stream revenue so far, and that’s Spotify (NYSE:SPOT) alone. According to the press release, Rihanna’s track is close to reaching 1 billion streams across all major streaming platforms.
While the revenue-sharing NFTs are sold out, some can still be acquired on the secondary market on OpenSea. However, the NFT floor price is currently at 0.45 Ethereum (ETH), which equals $629.29. Already thrice as expensive as the primary sale, it’s likely that the “B**** Better Have My Money” NFTs will go even higher after the Barbadian superstar singer performs during the Super Bowl LVII this Sunday.
congrats on the successful drop those streaming royalties will be— Superfluid (@Superfluid_HQ) February 9, 2023
On the Flipside
- NFT enthusiasts shouldn’t expect to make a profit from acquiring the NFT. Despite the song being popular on Spotify and iTunes, these streaming services are known to pay cents on the dollar for streams.
Why You Should Care
Rihanna is the second best-selling female artist in the history of the music business, only trailing Madonna.
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