What are NFTs? Kings of Leon Sell New Album as Non-Fungible Tokens

What are NFTs? Kings of Leon Sell New Album as Non-Fungible Tokens

Kings of Leon have deployed a music industry first—the band has released their new album in the form of a non-fungible token or NFT. The new project, titled "When You See Yourself" dropped Friday, March 5.Rolling Stone reports that the band has planned to release three types of tokens as part of a series called "NFT Yourself"—one is a special album package, the second offers show perks such as front-row seats and the last type is for exclusive audiovisual art.According to the magazine, Kings of Leon's album will be released on all the usual platforms— Spotify, iTunes, Apple Music, Amazon—but the NFT version costs $50 and is available on YellowHeart and will be the only product with special perks like a moving album cover and limited-edition vinyl."Over the last 20 years—two lost decades—we've seen the devaluation of music," Katz tells Rolling Stone. "Music has become great at selling everything except music. There's been a race to the bottom where, for as little money as possible, you have access to all of it. Previously, it cost $20 to go get one song."It's early stages, but in the future, I think this will be how people release their tracks: When they sell