Investing in Royal - a16z crypto

Non-fungible token (NFT) is a term used to describe a unique digital asset whose ownership is tracked on a blockchain, such as Ethereum. Assets that can be represented as NFTs range from digital goods, such as items that exist within virtual worlds, to claims on physical assets such as clothing items or real estate.

To create an aura of artificial scarcity around their music, the likes of 3LAU and RAC create a non-fungible token (NFT) to represent each piece of art. An NFT is a token that — unlike, say, a U.S. dollar bill or a standard cryptocurrency like Bitcoin or Ether — is rare, singularly unique, not mutually interchangeable and indivisible into smaller d... See more

As an example, music is a really interesting area and we have a number of investments there, so I’ll mention Royal and Sound.xyz. What both of those websites do is they let musicians basically create NFTs and other new sorts of digital objects musicians can use. Think of the NFT as scarce digital album art that also gives you other perks, like behi... See more