The Red Hot Chili Peppers are selling their song catalog to Hipgnosis Songs for upwards of $140 million, making them the latest heritage artist to benefit from the intellectual property gold rush that has seen Bob Dylan sell his songwriting catalog to Universal Music Publishing for more than $300 million and Stevie Nicks sell hers to Primary Wave for $100 million.

The band, which formed in 1982, has a solid catalog of hits including “Under the Bridge,” “Give It Away,” “Dani California,” “Knock Me Down” and others, and drummer Chad Smith recently confirmed that the group has been working on a new album.