The future royalties on the now-iconic "Real Snowy Morning" jingle used in Folgers Coffee’s TV and radio commercials for over 30 years were auctioned off for $90,500.
The auction by Royalty Exchange started with an opening bid of $63,000.
The winning bidder would take over the ownership of the songwriter's share of "public performance royalties" whenever it's played in a Folgers commercial, on TV, films, radio, or the internet.
According to the Royalty Exchange, the song has earned $38,164.19 in royalties in the past decade, with over $20,000 of those coming in during the past two years, and $11,746.52 in the past 12 months.
The jingle was written in 1984 by Leslie Pearl, a Pennsylvania-born singer-songwriter who had a semi-hit two years earlier with her song "If The Love Fits Wear It."
According to Folgers, the original jingle has been adapted into jazz, R&B, folk, country, gospel, Celtic, and acapella versions. It has also been covered by other artists, including Aretha Franklin.
The global market of non-fungible tokens (NFTs), blockchain-based tokens, which each represent a unique asset such as a piece of art, digital content or media, is rapidly growing.
NFTs market capitalization stood at $14.3 billion as of end-August, according to a blockchain data platform DappRadar. But the actual market was estimated to be much larger than that since the data was based on only the top 100 NFTs in the Ethereum blockchain family.
Investment in NFTs is limited, however, given unclear price information and difficult systematic asset management as the market is still in its infancy.
South Korea’s NFTBank provides solutions to such issues. The startup that began its service in June 2020 is managing clients’ asset of more than 2 trillion won ($1.7 billion).


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