Marseille rapper JuL has released a collection of NFTs based on his new album. Each of the winners will have access to exclusive benefits and three of them will receive, for one year, the entire YouTube revenue from the video of the song backing their NFT.
JuL creates its NFT collection
Earlier this month, rapper JuL introduced a collection of non-fungible tokens (NFT) to go along with his new album: the Extraterrestrial. The collection consists of 23 unique digital cards, each named after one of the album’s tracks
The winners of the nft contest have been contacted The nft are available on https://t.co/IEmcuYzQya and since it was important to me, if they sell, part of the money will go to @UNICEF_france ❤️
Winners you’ll soon have your gold records… pic.twitter.com/cGRRaWJj8N– Jul (@jul) June 28, 2022
This collection was rolled out on the Polygon (MATIC) sidechain and the 23 winners were announced on June 28. Each of these NFTs has some common benefits. These include a 20% discount on the artist’s online shop and physical certifications of each NFT’s album and tracks, when they are classified as gold or platinum.
In addition, YouTube revenues from the clips of three songs will be paid in full to each holder of the corresponding NFT for 12 months from the date of issue.
A smart strategy
It would be easy to think that JuL has taken advantage of the NFT craze to create a project that adds no value, but the opposite is true. While other artists before him have created collections without fundamentals, only to generate extra income at the expense of their community, this is not the case here.
Indeed, the NFTs were not paid for as such. To participate, you had to pre-order the album and enter a code on the cover for the draw. For the winners, only the mint fee for the Polygon network had to be paid, a few cents at most.
If an NFT is resold on the secondary market, JuL receives 10% of the sale price. But 50% of this amount will be donated to UNICEF.
All these elements lead to a well-constructed strategy, in which it is not simply a matter of ‘doing NFT’. In the future, it is certain that more and more artists will also use non-fungible token technology to add value to their creations.
