Kings of Leon is poised to make history as the first band to release an album as a non-fungible token, or NFT, a cryptographic way to buy and sell digital art and media.
The Grammy-winning rock band’s new album, “When You See Yourself,” will release March 5 via streaming services like Spotify and Apple Music, but also as a NFT on YellowHeart, a ticketing platform based on public blockchain. The album will mark the first time that fans can purchase an album on blockchain the same day as its traditional release on other platforms.
Along with the album, YellowHeart is offering two other crypto packages to users. The platform auctioning off six “golden tickets” that will include perks like four front row tickets to any Kings of Leon show for life, and another package includes six individual art pieces celebrating the album’s release and Kings of Leon’s legacy. The auction is set to go live at 12 p.m. ET on March 5.
As a NFT mint and wallet system allowing for large-scale, commercial-grade NFTs, YellowHeart is revolutionizing the music industry by creating a new way for artists to monetize exclusive content such as digital artwork, albums and collectibles. Recently, artists like Grimes and Linkin Park’s Mike Shinoda have raked in the big bucks selling their digital art as NFTs, to the tune of $5.8 million and $30,000, respectively. And, they’re using the money to give back — a percentage of Grimes’ sales will go to Carbon180, a non-profit dedicated to removing carbon from the atmosphere, while Shinoda said on Twitter that all proceeds will go toward giving students scholarships at the Arts Center College of Design. Shinoda has also since launched a new single, “Happy Endings,” as a NFT.
Though Kings of Leon is the first band to release a full album as a NFT, other artists, like fellow rockers Portugal. The Man, have also shared their passion for blockchain. In January, Portugal. The Man even launched their own form of cryptocurrency, called PTM Coin. Those with PTM Coin will be able to spend it on the band’s music, merchandise and exclusive videos.