Kings Of Leon have generated over $2million (£1.4million) from non-fungible token (NFT) sales of their latest album ‘When You See Yourself’.
The band’s new album, which was released last week (March 5), is one of the first major records to also be released as a collection of digital NFTs – a form of cryptocurrency asset – with each unique token containing exclusive album artwork and limited edition ‘Golden Eye’ vinyl.
Over $2million of sales have been generated by the band since ‘When You See Yourself’ went on sale as a NFT via the blockchain technology company Yellow Heart last Friday. Six ‘Golden Ticket’ auctions, guaranteeing the owner four front-row seats to one show of every Kings Of Leon headline tour for life, have brought in a significant portion of the revenue this week.
A spokesperson for Kings Of Leon confirmed the amount, which includes over $500,000 that the band have donated to Live Nation’s Crew Nation fund to support live music crews during the coronavirus pandemic (via Billboard).
“Breaking new ground is never easy… if it were, it wouldn’t be ground-breaking,” the band wrote in a since-deleted statement on YellowHeart’s website earlier this week.
Kings Of Leon’s special ‘NFT Yourself’ will remain on sale as an NFT until March 19 at 8PM. After that deadline, all of the remaining limited edition collectable NFTs that are not sold will be “burned” – deleted forever – and no more will be made.
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Kings Of Leon are set to secure their sixth UK number one album later today (March 12) with ‘When You See Yourself’. The band had been outperforming the rest of the top five albums in the UK combined with sales of their new record.