![]() The sale of the album NFTs opens on Friday at 12 p.m. The token, priced at $50, includes enhanced media - kind of like an alternate, moving album cover - as well as a digital download of the music, and limited-edition vinyl. Kings of Leon’s album will be released everywhere albums are released - Spotify, iTunes, Apple Music, Amazon - but the NFT version available on YellowHeart will be the only product with special perks. The Man, Katz offers consulting services through YellowHeart to educate artists about blockchain and create their NFTs. As was the case with both Kings of Leon and Portugal. Shortly after YellowHeart first formed in 2018, the company garnered industry interest for crypto’s possibilities in ticketing, but founder and CEO Josh Katz says that’s just one facet. (To learn more about the subject, read Rolling Stone‘s guide to crypto in music.) In the case of NFTs, their value becomes subjective and therefore fluctuates, kind of like stocks. Computers involved in the transactions become part of the network, which keeps updating and can’t be hacked due its nature as many-headed hydra. NFTs operate on a blockchain, which is a publicly accessible and transparent network - meaning anyone can see the details of any NFT transaction. All three types of tokens offer art designed by the band’s longtime creative partner Night After Night the smart contracts and intelligence within the tokens were developed by YellowHeart, a company that wants to use blockchain technology to bring value back to music and better direct-to-fan relationships.Ī quick rundown: NFTs are a type of cryptocurrency, but instead of holding money, they can hold assets like art, tickets, and music. One type is a special album package, while a second type offers live show perks like front-row seats for life, and a third type is just for exclusive audiovisual art. The band is actually dropping three types of tokens as part of a series called “NFT Yourself,” people involved in the project tells Rolling Stone. On Friday, Kings of Leon will release their new album, titled When You See Yourself, in the form of a non-fungible token ( NFT) - becoming the first band to ever do so.
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