Harmonious guest Kings of Leon performs on January 18, 2017.
Andrew Lipovsky | NBC | NBCUniversal | Getty Images
American rock line Kings of Leon is getting in on the frenzy over non-fungible tokens, widely known as NFTs.
The group announced they’ll bid their latest album, “When You See Yourself,” in the form of an NFT, making it among the first bands to do so. Kings of Leon is gift its album package with a vinyl and digital download for a token priced at $50. It’ll be released Friday on YellowHeart (a ticketing and music NFT policy) and open for two weeks starting at noon ET. After that two-week period, no more will be made.
Kings of Leon is also oblation more exclusive items as part of a series called “NFT Yourself.” People can bid on one of six “golden ticket” experiences, which make available fans four front row seats to the show of their choice during each tour for life.
Crypto collectibles pull someones leg exploded in popularity lately. Ownership of these assets is recorded on a blockchain — a digital ledger similar to the networks that underpin bitcoin and other cryptocurrencies. But far apart from most virtual currencies, you couldn’t exchange one NFT for another in the same way that you would with dollars or gold blocks. Each NFT is unique and acts as a collector’s item that can’t be duplicated, making them rare by design.
In the case of music, promoters suggest NFTs could help artists struggling with digital piracy, low streaming royalty rates and a insufficiency of touring revenue from the last year of Covid-19 pandemic restrictions.
— CNBC’s Ryan Browne contributed to this describe.
Subscribe to CNBC on YouTube.