Music NFT Marketplace Royal crashed after its first mint drop featuring Hip-Hop legend Nas’ NFTs!
Music producer 3LAU and his college best friend JD Ross are the top guys driving the highly anticipated platform. Royal raised over $16 million from investors back in August 2021. Then, last November 2021, it announced a $55 Million Series A investment round led by legendary venture capital firm Andreessen Horowitz (a16z). So the new marketplace has $71 Million in funding to accelerate the NFT music scene, yet the mint drop didn’t go as smoothly.
Royal x Nas’ NFT Drop
The mint was supposed to start on January 11 at 1:00 PM ET, top-billed by NFTs from the Grammy award-winning rap star. However, the platform crashed a minute into the drop. On Twitter, the team explained that heightened user demand on their servers was the main culprit.
The project played it cool on Twitter. “The hype is too. You, you guys broke our servers! We know the site went down and we’ll be back up at 1:30 PM ET!” Then, they apologized to the community before releasing a new schedule. The team bumped down the mint date nine days from the original schedule. It will now start on start on January 20 at 1:00 PM ET.
UPDATE: New date for the @Nas drop — Thurs, Jan 20. Same times, same place.
Ultra Black at 1pm ET. Rare at 9pm ET.
Thank you for your patience. The excitement is real. We appreciate you.💎
— royal (@join_royal) January 11, 2022
Fans of Nas can sign up on royal.io to purchase NFT tokens representing royalties to two of his songs. Royalty shares of up to 50% will be given on his songs “Ultra Black” and “Rare.” So fans could make some serious cash with these Nas royalties!
A limited amount of tokens will be available for each song, 1,110 for Rare and 760 for Ultra Black. Depending on how many tokens you purchase, changes the total percentage of royalties you own. Token owners could be getting more than their share of royalties.