News

After extension, the Kings of Leon NFTs generated $2m of sales


Tags:

We reported the other day on the Kings of Leon NFT sale being extended after four of its ‘golden ticket’ NFTs failed to meet their reserve prices. So it’s only fair to also report on the final performance of the sale, which reached more than $2m according to Billboard – a figure that came from the band’s spokesperson.

More than $500k of the proceeds were donated to Live Nation’s ‘Crew Nation’ Covid-19 relief fund. There’s also a hint at some of the challenges for the sale in the band’s statement as the sale was extended. “Breaking new ground is never easy….if it were, it wouldn’t be groundbreaking. Many fans are first-time NFT buyers and are experiencing a learning curve,” they said.

Solving those kinds of problems for novices will be important if music NFTs are going to break out beyond the audience of ‘rich crypto people’. Talking of which… Former T-Mobile CEO John Legere has just paid $888,888.88 for an NFT called ‘Hairy’ created by musician Steve Aoki.

 

Image by Tom Øverlie, NRK P3 (CC BY-NC-SA 2.0)

Stuart Dredge

Sign up for Music Ally’s free weekly newsletter, The Knowledge – at-a-glance analysis of the modern music industry

Read More: News
Leave a Reply

(All fields required)