The rap legends first announced that they had joined with Royalty Exchange, the music royalties marketplace, earlier this week to explore the world of cryptocurrency. As per HipHopDX, a lucky buyer, known as Stephen F, has now got the NFT with a bid of 40.191 ETH, equivalent to £61,435.
Stephen F will now earn money every time music from the group’s first five albums are streamed, played on the radio, sold physically, or sampled in TV shows or films. Considering that A Tribe Called Quest royalties came to £4,900 over the past 12 months, that’s a tidy little earning pile.
“Opportunities to earn from pioneering musicians don’t come around often… so don’t miss out on this one!” the listing for the sale stated. “Up for bid are sound recording royalties from iconic and trailblazing Hip Hop group A Tribe Called Quest’s first five studio albums.
“Often touted as the pioneers of alternative Hip Hop, A Tribe Called Quest’s music has stood the test of time with growth across top income sources and songs, 30 years after their first album was released.”
The five album run starts with their 1990 debut People’s Instinctive Travels and the Paths of Rhythm and ends with 1998’s The Love Movement and includes their classic 1991 album The Low End Theory.
It follows Lil Dicky’s ‘$ave Dat Money’, featuring Fetty Wap and Rich Homie Quan, which was the first ever music publishing NFT, also selling through Royalty Exchange for 9.209 ETH. This is the future, people.
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If I was Stephen F, I’d be phoning radio stations and requesting A Tribe Called Quest songs. That’d be a nice little scheme.
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