KEY POINTS
Money B, a member of the funk and rap group Digital Underground, has released a new non-fungible token (NFT) track on Gala Music, a platform focused on music NFTs.
The track, titled “Sit Next To Me,” is a collaboration with American rapper and singer Guapdad 4000 and is available in 100 copies.
The track is minted on the Ethereum blockchain and is already up for purchase. Each copy is priced at $100 or 2,547 $MUSIC, Gala’s utility token.
NFT holders will benefit from Gala’s daily token distribution, which depends on the number of listens the track receives. Thus, the more listens the track garners, the greater the rewards for the holders. As of now, the track has been played over 500 times.
This isn’t the first time a well-known rapper has entered the NFT space. In March, Ghostface Killah announced a Bitcoin-based NFT collection in partnership with Nakamotos on BTC, Rare Scrilla, and OrdinalsBot. This collection offered free minting of 10,000 NFTs with CC0 IP rights. Similarly, in 2022, rapper Aitch launched two NFT collections on LimeWire to celebrate the release of his debut album “Close To Home.”
Artists are using NFTs to gain more control over their royalty rights and to unlock new revenue streams. Blockchain technology ensures transparent and fair compensation for their work and allows artists to share royalties with their fans. For fans, NFTs present opportunities to access exclusive experiences and support their favorite artists directly.
