To ring in my new single 'By Now', we're going to try something new.
I will be releasing a 1/1 NFT on Zora on April 6th. Not only are you bidding on By Now, the collectible, you are also bidding on a percentage of master ownership, in perpetuity.
I have spent the entirety of my career as an independent artist. Through that process, I’ve maintained control of my master recordings and understand the real and potential value in this ownership. This marks the first time I will be fully relinquishing any permanent share.
Over the course of my life and career, I've contemplated the value of my art and work. While autonomy and freedom are priceless, I greatly value partnership and ingenuity. I view this experiment as having potential for both. The scale of this auction is set to my valuation of my master recording based on my experience with past releases and my knowledge that one moment can be the catalyst to launch a song into the stratosphere. I understand and respect the potential energy a song can have when paired with relentless hard work, dedication and a loyal fanbase. I view this as an experiment that can't lose, as it facilitates a conversation around the future of patronage and community in the music industry.
Thank you for your support and here's to showing that recorded music has value.
The auction starts on April 6th at 8pm EST and ends on April 8th at 8pm EST.
Bidding will extend in 3 minute intervals as long as bidding continues.
By Now will be released on major DSPs (Spotify, Apple Music, etc) on April 15th. Our team will work directly with the winning bidder to establish a process for collection, just as we would with any other collaborator on a VÉRITÉ track.
To keep up with the event, you can follow VÉRITÉ on Twitter for real time updates. Questions? Email firstname.lastname@example.org. We would like to maintain an open backchannel and answer any questions you may have.
THE WINNER RECEIVES
The encompassed 1/1 audio/visual NFT. This is the only NFT to be minted for this master recording.
The artist share of royalties from the master recording. This share accounts for 92% of the total master recording, with 8% allocated to the song's creators. The amount of ownership is based on a scale, ranging from $0 - $1M.
- 0 = 0%, - 500k = 50%, - 1 million+ = 100%
2 VIP Tickets to all future VÉRITÉ headline performances
Controlling rights of the master recording.
The winning bid will receive a percentage of the artist share of revenues of the master recording based on this metric. For the avoidance of doubt, the winner is simply entitled to a revenue share and will NOT be entitled to control the master recording (eg how the recording is exploited via DSPs or granting synch rights, etc)