Republic Launches Security NFTs, Giving Music Fans Shares to Artist Royalties

·1 min read

BeInCrypto –

In a partnership with Opulous, the financial services company Republic is forming Republic Music to create, produce, and share royalties from music through NFTs.

Republic, the financial services company, is offering music fans and artists the privilege of benefiting from the creation, production, streaming, and licensing of music, through its blockchain platform Opulous. For $100, listeners can invest in what Republic calls Security NFTs, which differs from other NFT offerings in the sense that Republic is touting these NFTs as a type of security, i.e. it passes the Howey Test, by being something that can be invested in, with the possibility of returns further down the line.

Artists will be able to raise production funds directly from fans, and the fans having a share in the music is expected to incentivize streaming and engagement. According to Pialy Aditya, Republic’s chief strategy officer, all investors will be part of an LLC by investing in the new platform. Aditya sees this investment as an opportunity to turn fans into owners. Initially, investors have the opportunity to be part of rapper Lil Pump’s new single called “Mona Lisa,” and the new single from KSHMR, the EDM artist new. More artist onboarding is expected to be announced throughout the month of Oct 2021.

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