Royal

Royal is a platform and marketplace that aims to provide artists with a way through which they can share ownership in their music with fans through issuing digital collectibles and non-fungible tokens (NFTs).

3Lau has a goal of creating a platform where upstart musicians can bootstrap their careers and leverage the power of non-fungible tokens (NFTs) with the goal of financing future albums. This cash flow will help Royal build on the requisite engineering as well as legal infrastructure, with the goal of supporting the project to its fullest. Royal has future plans on building a native exchange where users can trade artist assets without needing to go through the process of setting up a wallet.

This firm offer is illustrated in a recent drop by its founder, 3Lau, who released a collection of 333 unique art pieces, which represent 50% of ownership in the streaming rights of the song, Worst Case. The company claims that more than 120,000 users have already signed up for access to the platform since August.

Royal is a platform where users can buy ownerships in songs directly from their favorite artists and earn royalties with them. Its functionality is split across three parts:

• Artists can sell ownership – Musicians can use Royal to sell ownership in their songs as well as fan experiences.
• Collectors can buy ownership – Collectors have the opportunity to purchase ownership in songs directly from their favorite artists that create on the platform.
• All of them can rise together – Collectors can receive royalties for the songs that they end up buying, and when the artists grow, everyone else wins as a result.

The Non-Fungible Token (NFT) is the consensus method that classifies Limited Digital Assets. An NFT is a certificate of authenticity that's stored on a blockchain network and originates from a smart contract. This minting contract assigns each token ID to a specific set of meta-data that points to images or creative content.

Royal LDAs are ERC-1155 tokens that have a suite of features that go beyond the simple functionality of hosting meta-data, which points to media content. The ERC-1155 standard utilizes a single contract to mint various NFTs and can also mint fungible tokens at a reduced gas cost.

LDAs have specific features connected with them, including provenance or hashing and signing the .WAV, unique album art, Utility, Rights Assignment, Tiers, as well as Treasury Contract and KYC whitelist.

Royal, the non-fungible token (NFT) music platform, managed to raise $55 million in Series A funding.

The round was led by Andreessen Horowitz (a16z), but the funding round added a number of artists to the firm, indicating that there is interest across the entertainment industry to follow 3Lau’s lead. The investors include The Chainsmokers, Nas, Logic, Kygo, as well as Coinbase Ventures, Founders Fund, and Paradigm. The funds will be used as a form of investment within the ecosystem.