Kings of Leon released their latest album “When You See Yourself” as an NFT on YellowHeart, raising over $2M with $500,000 donated to Live Nation’s Crew Fund, supporting arguably the hardest hit sector of the music industry from the COVID-19 pandemic. The NFT included a single limited-edition golden eye vinyl (both physical and digital), as well as five pieces of digital album art.
As an artist who survived the peak years of piracy, it’s good to see KOL get their long-awaited retaliation and mark themselves as pioneers of this new digital revenue stream. The $2M price tag has sure to have caught the music industry on its heels, likely scrambling to compile meetings with lawyers, crypto specialists, and marketing teams to quickly understand how to ride this new bike. Don’t forget to lube the chain exec’s!
Kings of Leon’s CreatorCoin (an account not yet officially claimed by the artists) is currently trading around $800 on BitClout after a peak of over $1600 which was hit in mid/late March. Since the peak, it’s been a steady decline. Their largest coin holder is Craig, who owns a sizable 15% stake but is down on his investment until coin prices bounce back above $1100/coin. Something tells us it’s not keeping him up at night.