Oluwatosin Ajibade, a Nigerian singer better known as Mr Eazi, has announced plans to sell shares of his upcoming songs to fans.
Shares are referred to as units of equity ownership interest in a corporation that exists as a financial asset providing for an equal distribution in any residual profits, if any are declared, in the form of dividends.
The Afrobeat singer took to his Twitter page on Wednesday to announce the new and unprecedented idea.
The 29-year-old said the reason he is selling the shares of his yet-to-be-released songs is to allow fans to partake in his success by making money from streaming his songs in appreciation for “consistently being among top 5 most streamed African artists since 2016.”
“Gonna try an experiment on my next release where you guys the fans will be able to buy shares on my song. Meaning you will own an equity % on the song. As u stream & give me $, some goes back to you,” he wrote.
“I have consistently since 2016 been Top 5 most streamed African artists & that’s 100% due to my fans. I love you guys and it’s time to get you in on the equity side. Imagine you had a % of my last song with Nicki or my new single “Lento” with Jbalvin. As u stream u make it a hit, some of the $ comes to you, but most importantly you are a true part of the Global Smash Hit you helped create.”
Gonna try an experiment on my next release where you guys the fans will be able to buy shares on My song! Meaning you will own an equity % on the song! As u stream & give me $ some goes back to You!!!Advertisement
— Uncle Njobvu (@mreazi) December 9, 2020
Imagine you had a % of my last song with Nicki or my new single “LENTO “ with Jbalvin!!! As u stream u make it a hit, some of the $ comes to you! But most importantly you are a true part of the Global Smash Hit you helped create
— Uncle Njobvu (@mreazi) December 9, 2020Advertisement
With several awards and recognitions to his name, Mr Eazi has continued to blaze the trail in the Nigerian music industry with strings of beautiful projects.
In September, the singer released ‘Oh My Gawd’, a single which featured Nicki Minaj, Trinidadian-born rapper, and Major Lazer, a Jamaican-American electronic dance music trio.
‘Lento’, his latest single released on December 4, featured J Balvin, a Columbian reggae star.
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