Bitch Better Have My Money (DROP5)
What Is the Bitch Better Have My Money NFT Collection?
Bitch Better Have My Money is a collection of 300 unique NFTs, which are fractionalized shares of Rihanna’s hit song ‘Bitch Better Have My Money’. This project allows investors to invest in fractionalized shares of a song as well as earn royalties from the song’s streams.
Launched on 10 February 2023, the Bitch Better Have My Money NFT collection had a mint price of 210 USD. Holders of each of the 300 NFTs will be given 0.0033% of the song’s streaming royalties.
Who Is the Team Behind Bitch Better Have My Money?
The ‘Bitch Better Have My Money’ NFT collection was launched by Anotherblock.io, a web3 startup. Headquartered in Sweden, Anotherblock.io functions as a platform to allow investors to invest in music. Other than Rihanna’s hit song ‘Bitch Better Have My Money’, the platform also allows investors to hold fractionalized shares of songs of other famous artists like The Weeknd, Alan Walker, and Ava Max.
Anotherblock.io was founded by Michel D. Traore, Filip Strömsten, and Sebastian Ljungberg. While both Traore and Strömsten majored in Economics, Ljungberg has a masters in Engineering Physics. According to their website, the team behind Anotherblock.io consists of many different individuals from differing backgrounds – including computing, law, music, and business.
The shares of Rihanna’s hit song ‘Bitch Better Have My Money’ previously belonged to Jamil Pierre, who is also known as “Deputy”. Deputy is the co-producer of Rihanna’s Bitch Better Have My Money song and as a result, received an undisclosed percentage of royalty rights to the song. Deputy then enlisted the help of Anotherblock.io to sell 0.99% of his rights to the song, which was then fractionalized and sold to investors as 300 NFTs.
What Is the Utility of the Bitch Better Have My Money Collection?
The NFT from the Bitch Better Have My Money collection essentially represents ownership of the music rights. Each NFT, which represents one fractionalized share, is equivalent to 0.0033% of the song’s streaming royalties.
By being a holder of the NFT, this makes you the rightful owner of a share of streaming royalties. This means that when the song track is played on digital service providers like Spotify or Apple Music, you will receive your portion of the royalties. According to the contract between Deputy and Anotherblock.io, Deputy will be required to pay holders their share of the royalty at least twice a year.
As mentioned, these payouts are dependent on the number of times the song has been streamed. According to the website, Anotherblock.io predicts that the probable royalty return for the first year will be about 6.5%.
Holding the Bitch Better Have My Money NFT collection also gives holders exclusive access to an invite-only list, which allows holders to gain insider access to new drops made by Anotherblock.io. Holders will also be able to gain exclusive access to a community, where they will be able to take part in raffles and games.
