Earlier this year, we reported on an auction on the Royalty Exchange website for a slice of the rights to songs from the Shrek movie franchise. They ended up selling for $2.2m.
That’s not the end of the story however. The buyer, North Star Media, is now selling a smaller portion of those rights as an NFT, also on Royalty Exchange. The list price is 259.970 ETH, which is around $939k at the time of writing.
The NFT includes a slice of performance rights to Shrek songs that generated $58.8k in the last 12 months. The catalogue that North Star Media bought had generated $235k in the previous 12 months, so – and there is some fuzziness around this maths we admit – if the NFT auction meets the list price, the company will have sold 25% of the rights it bought in July for around 43% of the price it paid for them.
Nice business if you can get it! But getting it is the question: will anyone stump up the ETH to buy at the price North Star Media is hoping for?
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Tools :: Wyng
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