British songwriter, Gil Cang is turning a portion of his stake in a Michael Jackson song he co-wrote into an NFT.
Cang is selling the rights to the song “Whatever Happens,” from Jackson’s 2001 album Invincible, on the UK-based platform Deliciae.
The NFT includes 10 per cent of the net publishing income from the song, which equates to 26.667 per cent of Cang’s entitlement.
March 28th 2022 ‘Whatever’ Exclusive NFT drops on Deliciae. Song co-written by Gil Cang & performed by the King of Pop. https://t.co/crggJZMp2Q #NFTCommunity #NFTCollection #NFTcollector #NFTs pic.twitter.com/JF5JYPGjwK
— Deliciae (@deliciae_io) March 25, 2022
Cang said he got the idea for the sale after talking about NFTs with a friend, music producer Kwame Kwaten.
“I think the future involves the breakdown of all big corporations controlling art forms and that is of interest to people,” he said.
In addition to the long-term residual income, the buyer will also receive handwritten, signed lyrics from Cang and a framed platinum disc.
But the buyer won’t be able to re-assign the NFT income stream to a third party without Cang’s prior written consent, which he isn’t obligated to give, according to the listing.
“Whatever Happens” was never released as a single, but Invincible has sold over 8 million copies worldwide.
“As a massive Michael Jackson fan, it’s an honour to be working on such an historic NFT that is a slice from MJ’s last living album,” Deliciae founder Seyi Awotunde said.
“This NFT being sold on Deliciae fills me with joy that I can’t express in words.”
Awotunde said that Deliciae, a new marketplace, is aimed at filling what he perceives as a gap in the marketplace for high-end items.
“Amongst collectors and creators there is a strong desire to enhance the buying experience of NFTs. We connect high net worth individuals with digital, physical and experiential-based NFTs.
The sale goes live Tuesday morning, Australia time.
