OpenSea takes down NFTs featuring Rhianna’s music

2 years ago

Last week, successful beforehand of Rhianna’s hotly anticipated Super Bowl halftime show, an NFT collection featuring royalty rights from her 2014 opus “Bitch Better Have My Money” was taken down and delisted from OpenSea.

One of the song’s archetypal producers, Jamil “Deputy” Pierre, offered his rights to the opus to an NFT marketplace specializing successful euphony royalty rights, AnotherBlock.

The postulation sold retired connected the archetypal day, with 300 minted for $210 each, it generated full income of $63,000.

Each of the 300 NFTs represents a 0.0033% ownership of aboriginal royalties provided by integer streaming providers.

However, conscionable 2 days aboriginal and a time earlier Rihanna’s Super Bowl appearance, Michel “bigmich” Traore, the CEO of AnotherBlock, told members of AnotherBlock’s discord that OpenSea had banned the postulation — starring to an outcry successful AnotherBlock’s discord.

OpenSea said income were halted due to the fact that it went against the marketplace’s presumption of service, “appearing to committedness fractional ownership and aboriginal nett based connected that ownership.”

That effect perplexed AnotherBlock because, according to a assemblage lead, “we person besides brought up wherefore akin collections (Royal.io and Corite for instance) are inactive tradable connected their level successful our connection without getting immoderate remark connected that either.”

Royal.io, a euphony postulation NFT disposable connected OpenSea, is made by the physics instrumentalist “3LAU” Blau. A postulation that, similar AnotherBlock, allows for downstream gross to beryllium shared amongst fans and artists.

According to AnotherBlock, however, OpenSea was “ignoring” their attempts astatine resolving the issue.

The Rhianna NFTs are inactive disposable connected AnotherBlock’s marketplace and connected Blur, but immoderate users wrong AnotherBlock’s discord wondered if the OpenSea prohibition was affecting the level price.

“Our AnotherBlock postulation is not sufficient,” 1 holder, kyo1984, argued successful Discord. “Our level prices and transactions are going down.”

The collection’s existent level terms connected AnotherBlock’s marketplace is 0.55 ETH ($867), up 330% from its mint terms of 0.128 ETH, with full measurement arsenic of property clip astatine 155 ETH (about $245,000).

AnotherBlock, founded successful 2021 by entrepreneurs Michel D. Traore, Sebastian Ljungberg and Filip Strömsten, offers fans a marketplace to buy, merchantability and commercialized royalty rights for songs by different artists specified arsenic Offset, Metro Boomin and the Weekend.

Internal documents seen by CryptoSlate advertise annualized output for archetypal NFT offerings upwards of 11%.