Photo Credit: Blackpink for 티비텐 TV 10 / CC by 3.0
Web3 startup Story acquires producers rights to some of K-pop sensation Blackpink’s tracks and other K-pop recordings to sell as NFTs to fans.
You wouldn’t be alone if you thought music NFTs were a thing of the past. Around 2021, music rights acquisitions-turned-NFTs were the new hotness, as tech startups and major companies alike tried to cash in on the web3 craze. Nowadays, announcements like those are far more sparse. But web3 startup Story is on a quest to “[tokenize] sensational K-pop IP.”
Story has acquired some producer rights to a few Blackpink tracks as well as other K-pop recordings, and plans to sell them to fans via blockchain tokens. This isn’t the company’s first foray into music NFT territory; Story sold tokenized hits by artists like Miley Cyrus, Justin Bieber Katy Perry, Dua Lipa, and Maroon 5. The project raised over $10 million thus far, with $7 million having been raised in its first 10 minutes.
“Participants will earn a portion of copyrights and their income streams,” the company writes. Music involved in the project, which is based on Story’s IP RWA protocol through Aria, includes Blackpink’s “Yeah Yeah Yeah,” and “Ready For Love,” as well as Jisoo’s “Flower,” “All Eyes On Me,” and Bigbang’s “Still Life.”
For those wondering exactly what rights are up for grabs here, a Story spokesperson tells MusicAlly: “Partial copyright and income was procured directly from one or more producers involved in the creation of these songs.” Over the next five years, the company predicts an annualized royalty yield of around 6-8% on these tokenized rights.
Meanwhile, Blackpink’s breakout singer, Lisa Manobal — known mononymously as Lisa — has been dipping her toe into the world of acting. She makes her acting debut in Season 3 of HBO Max’s “The White Lotus,” which premiered on Sunday.