Rapper KYLE Rides New Album on the NFT Beat
A common theme among hip hop artists is their ability to weave emerging trends into their art and the business side of it. NFTs became a thing, we saw Jay-Z and long-time associate, Damon Dash, battle it to the courts after the latter attempted to sell HOVA’s Reasonable Doubt album as an NFT. The last time we checked, the feud hadn’t simmered. There’s better news about NFTs from another rapper, though.
The NFT market witnessed a new entrant in award-winning rapper KYLE. His fifth and latest music project, It’s Not So Bad, will be distributed via Opulous. Therefore, performers can now leverage the latest features of Opulous known as Music Fangible Tokens (MFT).
More rappers are going the NFT route, and in KYLE’s case, the MFT is the brainchild of Opulous that empowers musicians and their army of fans. In essence, each NFT holder in KYLE will earn something from the music usage revenue for the new album.
But, how has KYLE’s latest work been received? The work immediately charted on Spotify’s Prime 10 Albums Debut rankings, recording more than 7 million streams within one week. This means that NFT holders have already begun to earn music royalties on KYLE.
According to the artiste, he planned to release the full MFT album on Opulous and give fans a way to taste success in tandem with him. It’s a model that, in his words, “redefines success together.”
The idea of sharing success with fans, family, and friends might well be the definition of true and lasting success.
Who is Kyle?
Born Kyle Thomas Harvey, Kyle is the rapper formerly known as SuperDuperKyle. Originally from California, he grew up in LA’s Reseda neighborhood. His home consisted of eight family members, including two siblings catered for by a single mother.
KYLE attended Ventura High School and has discussed the bullying he endured there. He has stated that he gained confidence from participating in drama classes.
Harvey’s musical focus includes a hip hop, R&B, and pop-rap fusion that reminds one of Canadian star, Drake. His single, iSpy, featuring Lil Yachty, is his most popular song, peaking at number 4 on the Billboard Top 100.
Despite dropping It’s Not So Bad as an NFT/MFT, KYLE still has a relationship with a traditional record label, having inked a deal with Atlantic Records. The imprint has facilitated collaborations with impressive names, including Chance the Rapper, G-Eazy, Kehlani, Rich the Kid, Trippie Redd, Ty Dolla Sign, Tyga, and so forth.
Success in music has not ended KYLE’s love affair with drama, however. He appeared in Netflix’s 2018 feature, The After Party. Combining with Wiz Khalifa, he released a single for the movie called Moment.
Why an NFT
Record labels have a shameful rap sheet with musicians in general. For someone like KYLE, selling his music as an NFT allows him to keep generated revenue and not split any of it with a record label.
Besides, a performer’s relationship with their fan base often outlives whatever they have with their label. Keeping the embers of that connection alive by letting fans earn a piece of the pie should, in principle, help their careers and financial fortunes down the road.
What is Opulous?
Opulous is a platform helping musicians connect to their communities. Their MFT project gives music creators a way to share their rights to music copyright royalties with those who love them and their music.
Each MFT is subject to the US Securities and Exchange Commission (SEC), making Opulous the only platform to date offering SEC-compliant music copyright NFTs. There’s clearly a digital music revolution underway, and fans like musicians are vital beneficiaries.
NFTs and the Future of Music
Creators of art are continuing to explore the power and rewards of non-fungible tokens. It remains to be seen how far the art world can take them. Yet, it’s clear that the music industry is on the brink of another revamp, and folks such as KYLE are smart enough to see what could be.