French Web3 music start-up, Bolero, has unveiled its new NFT ownership model that could just represent the future of the industry. As a result, its new ‘Song Share’ feature will allow fans to own a tokenized fragment of the master recording of their favorite tunes.
Through ‘micro-ownership’ fans can both support their preferred musical artists, and potentially see returns should the song prove popular. As of writing, over 30 artists have signed up for Bolero’s bold new initiative, each of which committing between 5 and 10 percent of future song royalties. Once released, Bolero will collect revenue from streaming, videos, downloads, and more, then redistribute the funds to NFT owners.
Bolero Gets off to a Flying Start
To get its innovative new Song Share feature up and running, Bolero secured the services of French DJ, Rilès. Where the team then launched an NFT series based on his hit song ‘Brothers’ which he released back in 2016. Following the first month, Bolero totalled up the revenue from the track, and estimated an inflation beating 9.2% annual return on the initial investment.
Taking things a little further, Bolero then upped its game with fractional ownership to a brand new track from famed French DJ Agoria, the fruits of which, will reveal themselves over the coming months!
So, as ever, music continues to thrive in Web3, even when other sectors are losing their footing!
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