Does anyone have a handle on the legal side of Royal music NFTs? Is an LDA similar to what Opolous or Republic call an S-NFT? Is Royal registered under U.S. Regulation Crowdfunding? I can't find in their docs.

Founder @withBackdrop, enabling more digital painters, gardeners, and explorers

It is not a security so not registered. It’s a fully on chain contract containing rights to streaming income. The contract is linked from each token.

Using the royal app or directly on chain each owned can claim royalties as they are released

Royal.io founder, curiouser and curiouser

Got it, thanks for the reply! And yeah I read the linked contract, very cool. Is there anything different about the kinds of songs you can sell in this way vs the S-NFTs you see on Opolous/Republic?

It doesn’t hinge on the songs themselves, but rather what types of revenue is being shared. If just streaming revenue, then you can argue that’s not centrally controlled as the artist can’t unilaterally be responsible for that. If it were to include “sync” revenue, where the song

founder at Co:Create Ink (CoCreate.ink). Elevating the artistry of tattoos, blending tradition with technology

TLDR is that this space is really gray and there is a bunch of regulatory risk for anyone not registering a token that involves some revenue stream or expectation of profit.

…is “sold” for use on a show or commercial, for instance, that is the result of someone’s effort to make that happen (typically a mgmt company) and that then is hard to argue is not a common enterprise.