Global pop sensation Justin Bieber’s iconic 2015 song, “Company,” is set to transform into a nonfungible token (NFT), offering fans a unique opportunity to invest and earn royalties.
On September 7th, Anotherblock, a blockchain-centric music tech platform, in collaboration with co-producer Andreas Schuller (Axident), will release the NFT version of “Company,” limited to just 2,000 copies.
A New Era of Music Ownership
While Axident retains the rights to the song, NFT holders will participate in a groundbreaking 1% royalty share from the track’s streaming revenue. Axident emphasized the profound connection between fans and music ownership, a concept revolutionized by blockchain and music rights.
Axident stated,
“The ownership of a song bears far greater weight than its monetary value; it forges a profound connection to the art that, until now, has been beyond the reach of fans.”
Originally released as a single, “Company” made its mark by entering Australia’s top 40 and securing the 53rd position on the United States charts. Today, the track boasts over 500 million streams, showcasing its enduring appeal.
Introducing Web3 to the Masses
Michel Traore, co-founder and CEO of Anotherblock, highlighted the power of introducing universally beloved songs to the world of Web3. He expressed,
” ‘Company’ serves as a prime example of a song with immense potential in this regard. Through Web3 tools, we can offer music enthusiasts something that, until recently, hasn’t been accessible to the general public.”
Traore also emphasized that Axident’s decision to share royalties is a significant step in recognizing the often-overlooked creators behind music production. He noted,
“Producers often do not receive the recognition they truly deserve. One significant aspect for us is to shine a light on the creators behind the songs.”
Empowering Producers and Connecting Fans
This innovative approach will create a new revenue stream for producers. Also, it will provide fans with a unique opportunity to discover and connect with talented individuals and their remarkable work.
Anotherblock has a track record of collaborating with some of the biggest names in the music industry. These include The Weeknd, Rihanna, and Martin Garrix, to pioneer Web3 initiatives. Justin Bieber’s “Company” NFT represents yet another exciting milestone in the intersection of music and blockchain technology.
Notably. this NFT release of “Company” marks a significant step forward in the convergence of music, blockchain technology, and fan engagement.
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