FANDOM Tokenizes Khalid, Ahn Hyo-seop Single, Letting Fans Share in Royalties
Summary
- FANDOM said it will tokenize the new single "Something Special" on Injective using blockchain technology.
- Holders of the tokenized product will receive contractual rights to a portion of royalty income tied to the single's master rights.
- The rights can be traded on the Injective network or used with various DeFi services.
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Global music franchise FANDOM said June 17 that it will tokenize "Something Special," a new single featuring singer Khalid and actor-artist Ahn Hyo-seop, on the blockchain.
The project will be carried out on Injective, a layer-1 blockchain. It will allow fans to hold on-chain rights to a portion of the song's royalty income. FANDOM said the initiative is aimed at building a new music ecosystem in which fans participate directly in the revenue structure.
"Something Special" is Khalid's first collaboration with a Korean artist and Ahn's first solo single. Khalid is known for global hits including "Young Dumb & Broke," "Location" and "Talk." Ahn gained attention for his role as Jinu of SAJA BOYS in the Netflix film "K-Pop Demon Hunters."
Fans who hold the tokenized product will have contractual rights to a portion of royalty income tied to the single's master rights. Revenue generated by the song will be distributed according to each holder's stake. Those rights can be traded on the Injective network or used with various decentralized finance, or DeFi, services.
Eric Chen, co-founder of Injective, said the project created a way for fans to own a real piece of the songs they love. Regulated music rights that fans can hold, transfer and use across the Injective ecosystem have not existed before, he added.
Marcus Sanchez, chief executive officer of music intellectual property at Musicow, said FANDOM is built on the simple idea that fans should be more than just listeners. "Something Special" by Khalid and Ahn Hyo-seop is the first track to bring that idea to life, he said. Fans can now join the song's journey out into the world.
Injective, a finance-focused layer-1 blockchain, has recorded more than $77 billion in on-chain trading volume and over 2 billion transactions to date. Its cumulative real-world asset, or RWA, trading volume has surpassed $6.5 billion. The network supports trading in tokenized assets including stocks, foreign exchange, commodities and pre-IPO assets.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
