Decentralizing the Music Industry

Earlier this year,  pop music duo The Chainsmokers released 5,000 nonfungible tokens for free. These NFTs gave fans a 1% cut of the streaming royalties from their latest album, as well as priority access to concert tickets and free merchandise. The Chainsmokers aren’t the first musicians to experiment with crypto, NFTs or blockchain, and they’re unlikely to be the last.  Royal, a startup that's looking to give fans more access and more investment opportunities related to the bands they love, partnered with The Chainsmokers to give their fans a stake in their success. Royal CEO Justin Blau joins this episode, along with Bloomberg reporter Hannah Miller.See omnystudio.com/listener for privacy information.