Rihanna Enters NFT World With “B**** Better Have My Money” Sharing Royalties with Fans
Rihanna, one of the biggest hitmakers of the past 10 years is trailblazing once again, by releasing an NFT through Web3 music startup anotherblock last Thursday which allows holders to receive partial streaming royalties from “Bitch Better Have My Money”.
Anotherblock has set out to work with rights holders, including artists producers and songwriters, to divide up their royalty rights, which is done through fractionalised NFTs. In this case the deal involves Rhianna and music producer Deputy, who are both rights holders on the track.
Deputy (whose real name is Mikael Jamal) has produced a number of high profile tracks, including a collaboration with rapper and singer-songwriter, Lil Nas X, on the hit single “Rodeo” which reached the top 10 on the Billboard Hot 100 chart.
So Not A New Track?
What is fascinating about Rhianna cutting fans into the royalty streams for this track is that it was released nearly 8 years ago. “BBHMM” hit the top 10 in 8 countries and was dubbed one of the 200 essential songs of the 2010s by Pitchfork. Since then has racked up close to 1 BILLION streams (with a B) across all music streaming platforms, according to this press release by anotherblock.
For NFT collectors who participate in the ongoing royalty streams of this song, it promises strong ongoing performance as a classic, having established it’s place as a favourite from her catalogue.
The NFT Sale
The platform sold 300 NFTs at $210 apiece, with each giving holders a portion of 0.0033 % of the streaming royalties. With this, and the ongoing activity on the secondary market which has seen over 107 ETH in trading volume at the time of this article, “BBHMM” has become anotherblock’s biggest drop — less than six months after making their first in August. Since then, the value of their music rights catalog has increased by an average of 16 % in that timeframe.
According to this tweet by anotherblock the NFT sale sold out in minutes:
“As a fan, you get a certain attachment to an artist or a song. When you get an opportunity to own a part of a song, it’s a game changer. It creates a whole different realm of being connected, outside of streaming or concerts,” says Deputy. “anotherblock creates a platform for fans to engage and be a part of my career”.
To make the hit, Deputy drew on the popular trap sounds of the time, but pushed them in new directions to express some of the intensity he faced in his own life. “I used polarizing sounds and beats, raw emotions. It was aggressive, something you never heard before,” Deputy recalls. The track had a huge impact on his career: “It’s something different when you have a record with one of the biggest pop acts and a crazy video. It went off and it confirmed my position as a producer,” he reflects.
“BBHMM” also confirmed Rihanna’s edge and swagger, which was the perfect match for Deputy’s hard-hitting beat. The track gained a place at the top of her discography and a special spot in the hearts of fans.
More to Come?
“We’re thrilled to let more fans of groundbreaking tracks like ‘BBHMM’ connect with their favorite songs and support the creative people behind them in new ways through our drops,” says anotherblock co-founder and CEO Michel D. Traore. “Every drop has grown in scale and value, and we’re committed to offering truly high-quality tracks as we show the world what it means to democratize music rights and give producers like Deputy a chance to do more with their rights.”
It stands to reason that anotherblock will continue unearthing classics like this, and offering them to fans through this model, providing musicians with another avenue to earn revenue, and fans with a more tangible way to be connected to the musicians they love.
One thing we know for sure…
With Rhianna opening her Superbowl Act with “BBHMM” last Sunday, the NFT bonfire just got a whole lot bigger. Labels will be scrambling to get in on the action, and forward thinking musicians will be looking at how Web3 can be used to power a new era in artist-fan connection.
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