While many musicians have used non-fungible tokens (NFTs) to connect with their fanbases, MODA DAO is using them as a governance tool for artists and their managers to control royalty contracts.
The decentralized autonomous organization (DAO) is pairing its NFT music streaming platform with its governance token, $MODA, which is set for release on multiple blockchains, the company announced Tuesday.
The DAO said it will release a portion of its token supply on Ethereum, Polygon, Fantom, and Near blockchains on Nov. 10.