Justin Bieber’s 2015 Hit “Company” Transformed into NFT, Offering Fans Royalty-Sharing Opportunity
Global pop sensation Justin Bieber’s iconic 2015 track, “Company,” is now available as a nonfungible token (NFT) through anotherblock, enabling fans to invest in it and earn royalties from future song streams.
On September 7, anotherblock, a blockchain-focused music tech platform, in collaboration with the track’s co-producer Andreas Schuller (known as Axident), will release “Company” as an NFT, with a limited supply of only 2,000 tokens.
While Axident retains the rights to the song, NFT holders will have the opportunity to share in a 1% royalty from the song’s streams. Axident emphasized the significance of fans in the music industry and how blockchain and music rights are revolutionizing fan interactions.
“The ownership of a song carries more weight than just its monetary value; it fosters a deep connection to the art that, until now, has been out of reach for fans.”
When initially released as a single, “Company” charted in Australia’s top 40 and reached number 53 on the United States charts. To date, the track has accumulated over 500 million streams.
Cointelegraph interviewed Michel Traore, the co-founder and CEO of anotherblock, who explained that sharing beloved songs on a universal scale is an effective way to introduce the masses to Web3.
“‘Company’ exemplifies a song with immense potential in this context. Through Web3 tools, we can provide music enthusiasts with something that has, until recently, been inaccessible to the general public.”
Traore highlighted that Axident is sharing the royalty portion, shedding light on the often overlooked contributions of producers. “Producers often don’t receive the recognition they truly deserve,” he stated, “and it’s essential for us to spotlight the creative minds behind these songs.”
“This not only creates a new income source for producers but also allows fans to discover and connect with these talented individuals and their remarkable work.”
anotherblock has previously collaborated on Web3 projects with some of the music industry’s most prominent figures, including The Weeknd, Rihanna, and Martin Garrix.
