Royal.io explained

Royal
Industry:Music
Founder:3lau (Justin Blau)
Hq Location City:Austin, Texas
Hq Location Country:U.S.
Areas Served:-->
Key People:3lau (Justin Blau)
Owners:-->

Royal (Royal.io) is a US-based platform that sells music rights as limited digital assets.[1] It was founded by Opendoor co-founder JD Ross[2] [3] and DJ and electronic music producer Justin "3lau" Blau[4] [5] [6] It is headquartered in Austin, Texas.[7]

History

Royal was founded in May 2021 by Justin Blau, who is popularly known as 3lau.[8] The company is backed by musicians such as The Chainsmokers, Logic, and Kygo.[9] [10]

Royal founder 3lau gave away the first tokenized music offering in a contest for 50% of royalties for his song "Worst Case" in 2021.[11] After the giveaway, the song was noted as the world's first fan-owned song.[12] [13]

Royal partnered with rapper Nas to sell streaming royalty rights for the songs "Ultra Black" and "Rare" through its platform in January 2022.[14] [15] Through this initial sale, Nas became the first artist to sell song rights through Royal.[16] [17]

Diplo became the next major artist to sell streaming royalty rights through Royal in March 2022, selling royalty rights to the song "Don't Forget My Love."[18] [19] [20] Duo Tritonal followed shortly after, selling ownership of their single "Getaway" in April 2022.[21]

In July 2022, they started the first round of royalty payout to the fans.[22]

Other artists who have sold song rights through Royal include Vérité[23] and Ollie.

Services

Royal sells Limited Digital Assets (LDAs), which grant buyers a package of music rights and benefits. Buyers own a portion of a song's streaming royalty rights and earn royalties alongside the music artist.[24] Royal also allows buyers to redeem benefits and rewards chosen by the music artist who created the song they own.[25]

Song rights are divided into three different tiers with separate rewards and ownership percentages.[21]

External links

Notes and References

  1. Web site: Nas Partners With Royal to Offer Streaming Royalty Rights for Two of His Songs. Complex.
  2. Web site: The Chainsmokers, Nas, and a16z back NFT music market Royal in new $55 million Series A. Fortune.
  3. Web site: Royal raises $16M in seed funding round led by Founder Funds & Paradigm. Vikas. M. August 28, 2021.
  4. Web site: Founders Fund backs Royal, a music marketplace planning to sell song rights as NFTs.
  5. Earn Money for Your Music Taste: 3LAU Raises $16M for Music Rights Marketplace Royal. Tatiana. Cirisano. . August 26, 2021.
  6. Web site: Musicians turn to NFTs and other digital goods to disrupt the music industry and reward loyal fans. Fortune.
  7. Web site: Prior to Launch, NFT Music Platform Royal Raises $16M With 3LAU at the Helm | Built In Austin. www.builtinaustin.com.
  8. Web site: DJ Justin Blau made millions with NFTs. His next move could disrupt the music business.. December 3, 2021.
  9. Web site: The Chainsmokers Are One of The Most Popular Groups of the Last Decade, According to Study. Lennon. Cihak. EDM.com - The Latest Electronic Dance Music News, Reviews & Artists.
  10. Web site: Spotify's Premium Content Strategy Director Darya Pourshasb exits, joins Justin Blau's NFT platform Royal. April 20, 2022. Music Business Worldwide.
  11. Web site: 3LAU's Next Song Will Be 50% Fan-Owned. Cameron. Sunkel. EDM.com - The Latest Electronic Dance Music News, Reviews & Artists.
  12. Web site: 3LAU releases world's first fan-owned song, 'Worst Case' with CXLOE. October 12, 2021. Dancing Astronaut.
  13. Web site: 3LAU's Worst Case to be the first "fan owned" song on blockchain music platform Royal. MusicTech.
  14. Web site: Nas to let fans buy shares in streaming royalties via NFTs on music investment platform Royal. January 6, 2022. Music Business Worldwide.
  15. Web site: NFTs Explained: How the Music Industry and Black Creatives Are Reshaping the Game. BET.
  16. Web site: Nas Is Selling Royalty Rights to 2 of His Songs As NFTs. January 6, 2022. HYPEBEAST.
  17. Web site: Nas to sell royalty rights to two of his songs as NFTs. . January 9, 2022.
  18. Web site: Diplo is the latest artist to let fans buy shares in his streaming royalties on $55m-backed NFT platform Royal. March 25, 2022. Music Business Worldwide.
  19. Web site: Diplo fans can soon earn passive income for streaming one of his latest singles. March 25, 2022.
  20. The Deals: Diplo Strikes Royal Partnership, WMG Plays Games With STYNGR. Chris. Eggertsen. . March 31, 2022.
  21. Web site: Tritonal give away ownership of their latest single as an NFT on Royal. April 5, 2022.
  22. Web site: 2022-07-28 . Justin Blau and "Royal" Create First Artist-Fan Monetization Pipeline With Initial Round of Payouts . 2022-10-16 . HYPEBEAST.
  23. Web site: March 3, 2022 . Ollie partners with DJ 3LAU's Royal for first Web3 project 'Phases', to drop 'Underrated' EP as NFT . Ollie partners with DJ 3LAU's Royal for first Web3 project 'Phases', to drop 'Underrated' EP as NFT | Bandwagon | Music media championing and spotlighting music in Asia..
  24. Web site: 3LAU Sells 100% Of 'IRIDESCENT' EP's Master/Publishing Rights To Fans Via NFTs. February 27, 2022.
  25. Web site: Pitbull on investing in music NFTs and 3LAU on surging fan interest: CNBC Crypto World. April 19, 2022. CNBC.

This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Royal.io".

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