Justin Bieber's Chart-Topping Hit 'Company' Turns Into NFT for Fan Royalty Sharing | Blockster

In a groundbreaking move, global pop sensation Justin Bieber is transforming one of his hit songs into an NFT, allowing fans to invest and share in the song's royalties.

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The blockchain-focused music platform, anotherblock, in collaboration with the track's co-producer, Andreas Schuller (Axident), is set to release the NFT of Bieber's track "Company" on September 7, with only 2,000 copies available.

While Axident will retain the song's rights, NFT holders will have the opportunity to earn a 1% share of the song's streaming royalties. Axident emphasized the significance of fans in the music industry and how the integration of blockchain and music rights opens up a new realm of possibilities for fan-artist interactions.
"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," Axident explained.
"Company" initially made waves as a single, breaking into Australia's top 40 and reaching 53rd place on the United States charts. To date, the track has accumulated over 500 million streams.

Michel Traore, the co-founder and CEO of anotherblock, discussed, "the impact of introducing universally beloved songs to the world of Web3. 'Company' serves as a prime example of a song with immense potential in this regard," he noted.
"Through Web3 tools, we can offer music enthusiasts something that, until recently, hasn't been accessible to the general public."

Michel Traore, CEO of anotherblock
Traore also highlighted that the royalty share initiative is a testament to Axident's commitment to recognizing producers' contributions to the music industry. "Producers often do not receive the recognition they truly deserve," he pointed out, "and one significant aspect for us is to shine a light on the creators behind the songs."

He added, "This not only creates a new revenue stream for producers but also provides fans with the opportunity to discover and connect with these talented individuals and their incredible work."

anotherblock has previously collaborated on Web3 ventures with some of the music industry's most prominent figures, including The Weeknd, Rihanna, and Martin Garrix.