The rock band Kings of Leon has announced that fans and collectors alike will be able to purchase their next album called "When You See Yourself" as an NFT via YellowHeart (a ticketing and music NFT platform). This album goes on sale Friday and the NFT will be paired with a vinyl album that will cost $50 USD. Due to the structure of how the NFT will be offered, it will be for sale for two weeks for people to buy the $50 bundle, the number of NFT's that will be created is really unknown right now.
The Kings of Leon will be one of the first musical acts to try their hand in this idea and are by far the biggest musical group to do so. This could really be a huge boost for the NFT market given how Ethereum fees have really impacted the market. Already Grimes (Elon Musks partner and the mother to his most recent kid) and Mike Shindoa of Linkin Park have signed on! On Thursday their website will go live so you can see the NTF's in the first wave that will be available. All of them have the same principle where the number of NFT's will only be deteremed after the sale of the NFT's end.
YellowHeart has its own blockchain so dodging the Ethereum fees is huge! It was founded by Josh Katz and the Chainsmokers and their manager. YellowHeart also allows for a percentage of future NFT sales to still go to the artist allowing them to have their own access to the secondary market. This will let musicians not have to just sell their music the one initial time and it will be interesting to see how it works! We shall soon see with the launch in just a couple of days of the site! Prices are supposedly going to range from $95-2,500 USD!
