Justin Bieber’s Popular Song to be Released as a Royalty-Sharing NFT

In an innovative turn for the music industry, Justin Bieber’s hit track, “Company”, is set to be released as a non-fungible token (NFT). The move will allow fans to invest in a percentage of the song’s royalties.

On September 7, the blockchain-focused music technology platform, anotherblock, in collaboration with the song’s co-producer, Andreas Schuller (known as Axident), will launch the NFT. A limited edition, only 2,000 NFTs will be available for fans to purchase.

Despite retaining the rights to the song, Axident is offering fans owning the track’s NFT a unique chance – they’ll be eligible to participate in a 1% royalty share from the song’s streams. Axident shed light on the critical role fans play in the music industry. With the integration of blockchain and music rights, there emerges a new landscape of fan and artist interaction. He believes that the true value of owning a song goes beyond the monetary aspect; it cultivates a deep bond with the art, something that fans have previously been unable to experience.

When “Company” was first introduced to the public as a single, it quickly rose in popularity. It secured a spot within Australia’s top forty and reached 53rd place on the U.S. charts. The song’s success didn’t stop there; it has since accumulated over 500 million streams.

Discussing the transformative potential of blending popular songs with Web3, Michel D. Traore, the CEO and co-founder of anotherblock, mentioned that such initiatives help familiarize the broader audience with Web3 technologies. Citing “Company” as a song with vast potential in this context, he emphasized how Web3 tools can grant music aficionados access to experiences previously out of their reach.

One critical aspect Traore brought attention to is the undervalued recognition that producers often face. By releasing the royalty share, Axident not only spotlights the unsung heroes behind hit tracks but also carves out a fresh revenue stream for them. This initiative empowers fans with a unique opportunity – to connect with and appreciate the creative minds crafting their favorite music.

In its journey of pioneering Web3 initiatives, anotherblock has collaborated with bigwigs of the music domain, such as Rihanna, The Weeknd, and Martin Garrix.