Rihanna's Fractionalized Royalty-Backed NFT Song Was Sold out in Minutes

Ahead of NFL's Super Bowl LVII held on February 13th, the popular music diva Rihanna launched her famous Bitch Better Have My Money song as an NFT. The non-fungible composition was offered through the Web3 music startup anotherblock on February 9th. 

The tokens on the new platform are offered as fractionalized NFTs, allowing more collectors to own a desired music piece.

The renowned music producer Deputy, who collaborated with Kanye West, Travis Scott, and WondaGurl who produced Rihanna's hit in 2015 granted the NFT holders a share of the streaming royalties. According to the press release, the song went triple platinum in the United States. Further, the track has managed to raise around 1 billion streams on various platforms.

Needless to say that 300 royalty-packed tokens priced at $210 apiece were sold out just in a few minutes. After the minting session was over, each holder was rewarded with "a portion of 0.0033 % of the streaming royalties." The royalties will be paid every six months, with the first pay-off to arrive on February 16th.

In addition to royalties from the streaming, the lucky holders of Bitch Better Have My Money NFT received a supreme NFT artwork by a skilled NFT artist, a custom music track, and "a real-world legal contract specifying the terms of the streaming royalties and guaranteeing real-world ownership for the NFT holder."

Moreover, all holders were allowed to the VIP Discord community and IRL events, alongside priority access to future NFT drops.

The NFT drop came ahead of Rihanna's Super Bowl LVII halftime performance on February 13th.