Lil Dicky “Molly” NFT Auction Leads to Bidding War on Royalty Exchange
In an unexpected turn of events last night, Lil Dicky & Brendon Urie’s “Molly” NFTplus auction ended in a bidding war on Royalty Exchange. The bidding for the NFT of the RIAA Platinum hit began at 11.038 ETH, equivalent to just over $35K, and sold for 15.868 ETH ($51,056) to ‘Benjamin W’ – almost $16K over asking price. The 2015 collaboration with Panic! At The Disco frontman hails off Lil Dicky’s studio album Professional Rapper, which debuted at No. 7 on the Billboard 200 and No. 1 consecutively on Comedy Albums, Rap Albums and, Independent Albums charts. Royalty Exchange continues to grow as a tech-first leader in the use of blockchain and cryptocurrency, pioneering the NFTplus earlier this year. This income-producing NFT allows the buyer to receive a cut of all future mechanical, public performance and sync royalties. “Molly” is not the first Lil Dicky NFT to enter the market. Earlier this summer, Lil Dicky’s 2015 hit “Save Dat Money” was auctioned off as the first-ever music publishing NFT via Royalty Exchange. The buyer? None other than Reddit Co-Founder (and husband of Tennis superstar, Serena Williams), Alexis Ohanian. As the buyer, Ohanian now generates income every time the song is streamed, sold, broadcast or licensed. He will receive payment every quarter in Ethereum, which can be converted to US dollar (or another flat currency) or continue to be held as cryptocurrency.
About Royalty Exchange:
Royalty Exchange is the world’s largest platform for buying and selling royalty assets of any type, mostly music, where royalty owners can sell their future payments to investors as alternative assets. The company’s marketplace boasts over $95 million in deals and a community of over 30,000 investors looking for royalty-based assets. All types of assets can be monetized and invested in including music royalties, film royalties, and tax credits, patent and intellectual property royalties, trade secret royalties, renewable energy land leases, technology licensing royalties, book publishing royalties, franchise royalties, copyright royalties and agriculture royalties.Royalty Exchange uses the power of markets to unlock the value of ideas that enrich the human experience. They operate the world’s oldest and largest marketplace for buying and selling royalties, bringing together music creators and private investors with transparency and fairness. Creators raise money without going into debt or giving up their rights. Investors access high-yield, uncorrelated royalty opportunities. The result is a solution for all creators and investors, not just the connected few.
Royalty Exchange is the world’s largest platform for buying and selling royalty assets of any type, mostly music, where royalty owners can sell their future payments to investors as alternative assets. The company’s marketplace boasts over $95 million in deals and a community of over 30,000 investors looking for royalty-based assets. All types of assets can be monetized and invested in including music royalties, film royalties, and tax credits, patent and intellectual property royalties, trade secret royalties, renewable energy land leases, technology licensing royalties, book publishing royalties, franchise royalties, copyright royalties and agriculture royalties.Royalty Exchange uses the power of markets to unlock the value of ideas that enrich the human experience. They operate the world’s oldest and largest marketplace for buying and selling royalties, bringing together music creators and private investors with transparency and fairness. Creators raise money without going into debt or giving up their rights. Investors access high-yield, uncorrelated royalty opportunities. The result is a solution for all creators and investors, not just the connected few.