Kings of Leon Becomes the First Band to Release their Latest Album in NFT
The band Kings of Leon is releasing their new album, titled “When You See Yourself on Friday,” and it will be in the form of an NFT (non-fungible token). While the NFT fever is spreading on everyone, Kings of Leon will be the first band to do so, first reported Rolling Stone.
With NFT, the band wants to “deconstruct, degenerate, and distort iconic band symbols and photography,” Kings of Leon’s team wrote in a press release. The bank is dropping three types of tokens as part of a series called “NFT Yourself,” designed by their creative partner Night After Night.
One type of token is a special album package while the second type offers live show perks, and the third type is for exclusive audiovisual art. The token is priced at $50, which will be opened for sale on Friday at 12 p.m. E.T for two weeks.
The technicals of the NFTs, smart contracts, will be handled by YellowHeart, a company formed in 2018 that aims to use blockchain technology to bring value back to music.
“Over the last 20 years — two lost decades — we’ve seen the devaluation of music. Music has become great at selling everything except music,” Josh Katz, founder, and CEO of YellowHart, told Rolling Stone. He believes NFTs will make modern fans want to own music again. “It’s early stages, but in the future, I think this will be how people release their tracks,” he added.
While the album will be released everywhere; Spotify, iTunes, Apple Music, and Amazon, the NFT version of it will only be available on YellowHeart.
YellowHeart is minting 18 unique “golden tickets” as part of this NFT release, out of which six will be auctioned by the band. Each of these “golden tickets” further unlocks an actual concert ticket, guaranteeing its owner four front-row seats to any Kings of Leon concert during each tour for life.
The VIP experience is also part of the token ownership which includes a personal driver, a concierge at the show, a hangout with the band before the show, exclusive lounge access, and four bags of merch which is basically an “extreme example to prove a point.”