Pop and R&B sensation, Rihanna, is set to unveil a limited Non-Fungible Token (NFT) collection featuring her chart-topping hit “B*tch Better Have My Money”.
The platinum-certified track will be available for streaming on the well-regarded NFT platform, Anotherblock, with a portion of the royalties to be shared by the platform.
The production company behind the hit song, Deputy, who also served as co-producer of “B*tch Better Have My Money,” will release the track as a NFT. This will result in a portion of the streaming royalties being provided.
Starting at 5 PM GMT/12 PM EST on Thursday, the collection of 300 royalty-linked NFTs went on sale, priced at $210 each. According to the company, each NFT holder will receive a share of the song’s streaming royalties, equating to 0.0033% of the total.
According to a tweet from the company, the collection sold out in just a matter of minutes.
sold out in a few minutes on the allowlist sale
our community is absolutely amazing without you guys this would never have been possible▪️ our upcoming pipeline of music drops is absolutely amazing rest assured
▪️ the 16th of feb our first holders will receive the first payout pic.twitter.com/pCPSOopvsV
— anotherblock ◼️ (@anotherblock_io) February 9, 2023
The company has stated that NFT holders can expect to receive their first royalty payout on February 16th, and ongoing payments every six months, calculated based on the streaming revenue generated.
Deputy has chosen to release Rihanna’s iconic hit “B*tch Better Have My Money” as a digital collectible just three days prior to the singer’s highly anticipated Super Bowl Halftime Show performance. The song was a top 10 hit in eight countries upon its release in 2015 and remains one of the world’s most frequently covered tracks, according to Pitchfork
B*tch Better Have My Money” has earned over a billion streams on various platforms and is considered a classic hit with enduring popularity among listeners globally. Some critics even go so far as to say that the track was “ahead of its time.
The benefits of holding a Rihanna NFT
In addition to a share of the streaming royalties, NFT collectors will receive exclusive artwork crafted by an NFT artist, a custom musical track, and a legally binding contract that outlines the terms of the royalty arrangement and confirms the NFT holder’s ownership.
Under the agreement, Deputy has contracted AnotherBlock to mint the NFTs on his behalf. The contract allows for the secondary sale of the NFTs and obligates Deputy to distribute the NFT holders’ share of the streaming royalties no less than twice a year.
NFT holders will also have access to a private Discord community, as well as priority access to real-world events and future NFT releases.
According to AnotherBlock’s website, the estimated probable annual returns for NFT holders of Rihanna’s “B*tch Better Have My Money” is estimated at 6.5%. This translates to approximately $13.65 in yearly payouts. Given that it would take approximately 15 years to recoup the initial investment, it appears that this NFT drop may be more of a novelty experience for fans rather than a substantial financial investment.