Image credit: Kings of Leon
The “non-fungible token’s” are a form of cryptocurrency and will unlock perks including limited-edition vinyl and front row seats to future concerts.
The American rock band will be the first-ever band to release an album as an NFT (non-fungible token), when their latest record ‘When You See Yourself’ drops this Friday (5th March).
Listeners will be able to buy the album on blockchain, a cryptocurrency wallet, exchange, and explorer. The album will also be available in physical form and on streaming services such as Spotify, Apple Music, and Amazon Music.
The tokens will unlock special perks such as limited-edition vinyl and front-row seats for future concerts.
NFTs are a form of cryptocurrency that can hold assets such as art, concert tickets, and music instead of money. As with most cryptocurrencies, they are expected to increase in value over time but can also be instantly valuable too. In fact, this week artist Grimes sold $6m (£4.3m) worth of art as NFTs.
As cryptocurrencies gain traction and become more of a mainstream asset, we’ll likely see more artists using NFTs to sell their music and art.
Watch Kings of Leon play new song ‘The Bandit’ live on Jools Holland here: