Royal is the startup founded by musician Justin Blau (aka 3lau) to help artists sell NFTs that include a share of their streaming royalties.
Having worked with the likes of Nas, The Chainsmokers and Diplo on drops – for which the company says it has already paid out more than $100k of royalties to the buyers of those NFTs – Royal is now launching its fully-fledged marketplace.
It will make it easier for people to buy and sell tokens on Royal, as well as giving them a new dashboard to manage their portfolios. Royal also says it has more than a dozen independent artists launching sales in the coming weeks.
“Through the end of the year, we’re waiving a platform fee, so listing and selling tokens is free. For every secondary trade, artists will collect a 2.5% fee, which Royal will cover,” noted the company.
Blau was one of the earliest musicians to explore NFTs, although it hasn’t been entirely plain sailing: he was recently sued by a songwriter who’d co-written one of the tracks his NFTs were based on, over the royalties from that sale.
The NFTs that lawsuit relates to predate him founding Royal, which appears to be building momentum on the product and artist-signups side.
This article was amended on 20 November to clarify that the recent songwriter lawsuit concerns NFTs that Justin Blau sold before he founded Royal, and is thus not related to the startup.
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