Tue, 29 Mar 2022 11:01:56 +0000
British songwriter Gil Cang is turning a portion of his stake in Micheal Jackson’s ‘Whatever Happens,’ into an NFT. The song, which was co-written by Cang, features on Jackson’s 2001 album ‘Invincible,’ which has amassed over eight million sales worldwide, with the song itself rendering over eight million streams on Spotify alone.
The exclusive NFT will drop on March 28th, on NFT platform Delicate which caters to the demand for high-end digital assets. Cang decided to embed a nice round 10% of the song’s net publishing income into the NFT, which equates to around a quarter of his overall entitlements. In addition to such long-term passive income, Cang will also provide the lucky owner with a signed, handwritten copy of the song’s lyrics, as well as a framed platinum disc.
In the NFTs announcement video, Cang said that he got the blockchain idea for his song entitlements from a discussion he had with fellow music producer Kwame Kwaten, where he later went on to state the overall intent of the asset’s premise: “I think the future involves the breakdown of all big corporations controlling art forms and that is of interest to people”.
Although the NFT concept will certainly do a succinct job in transferring control to a member of Jackson’s mass fanbase, according to asset’s listing, the buyer will have to consult the written consent of Cang if ever thinking of re-assigning the NFT income stream to a third party, meaning the NFT owner won’t possess full discretion over the entitlement rights.
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