NFT Republic platform unveils “security NFTs” to invest in music

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Quick setting

  • The Republic investment platform uses “security NFTs” to represent the investments fans make in artist songs and albums.
  • Republic uses decentralized peer-to-peer lending platform Opulent in its ecosystem.

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Investment platform Republic now offers what it calls “security NFTs,” aimed at giving music fans the ability to share the rights to artist royalties.

These so-called “S-NFTs” represent the investments made by fans in songs and albums by artists, and the subsequent returns that these musical assets generate through plays, streams and licenses.

One of Republic’s main goals is to give artists back control over their music while engaging fans. This type of investment usually involves the purchase of music rights through “membership units” of the LLC that owns a song or album, the company explains on its website.

“The same membership units that can generally be represented by an LLC membership certificate will instead be represented by the S-NFT,” Pialy Aditya, Republic’s chief strategy officer, told The Block.

As a first step, fans will be able to invest in a new song called Mona Lisa by rapper Lil Pump with Soulja Boy, as well as an unspecified track by electronic artist KSHMR. Artists could potentially offer “unsafe” NFT notes, commodities and drops to investors through Republic.

Republic uses decentralized peer-to-peer lending platform opulent for its investments in music. Built on Algorand’s blockchain, Opulous focuses on DeFi loans for musicians and NFTs that allow music fans to have a stake in the copyright of artists’ music.

Republic offers S-NFTs in the United States Crowdfunding Regulation (CF). “Republic is a registered crowdfunding portal that allows it to facilitate deals under Reg CF,” Aditya said. “Like all Reg CF security offerings, these offers are not endorsed or qualified by the SEC.”

© 2021 The Block Crypto, Inc. All rights reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial or other advice.

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