While it shouldn’t be a surprise to see hip-hop acts getting in on the NFT craze at this point, the latest rappers to announce their non-fungible product have attached some real value to it. A Tribe Called Quest is selling an NFT through Royalty Exchange which will grant holders access to a 1.5% share of the royalties from the iconic rap group’s first five albums: People’s Instinctive Travels And The Paths Of Rhythm, The Low End Theory, Midnight Marauders, Beats, Rhymes And Life, and The Love Movement.
The NFT is being auctioned on the Royalty Exchange website using Ethereum, beginning today and running through the next 27 hours as of press time. The starting price was 16.500 ETH (or $35,000) and so far, that number has gone up to 16.659 ETH ($35,921), with just two bids. Expect that number to jump as the deadline nears You can watch the bids in real-time, and the winner can expect a biannual distribution of around $3,000, provided that CDs, vinyl, streams, and sync licensing hold steady.
The site describes Tribe’s catalog as “celebrated by critics and fans alike as the most intelligent, artistic rap group of the 1990s.” Some of the places their music has appeared include the 2021 live-action Tom And Jerry film, the 2020 Pixar film Soul, the fan-favorite Apple+ series Ted Lasso, and tons of video games, movies, shows, and advertisements.