Justin Bieber enthusiasts are in for an extraordinary experience as one of his chart-topping songs is about to undergo a transformation into a nonfungible token [NFT]. This exciting development is the result of a collaboration between the blockchain-focused music technology platform Anotherblock and the co-producer of the track, Andreas Schuller, better known as Axident.
Scheduled for launch on September 7, this initiative will see the release of the song “Company” as a limited-edition NFT, with just 2,000 units available. Fans who acquire an NFT of this track will not only possess a unique piece of digital art but will also become eligible for a 1% royalty share in the song’s streaming revenue. This groundbreaking move signifies the intersection of blockchain technology and music rights, opening up a world of new possibilities for fan engagement.
Michel D. Traore, the co-founder and CEO of Anotherblock, emphasized the significance of this initiative in an interview with a prominent cryptocurrency media outlet. He pointed out that the royalty share is being offered by Axident, shedding light on the often-underappreciated creators behind the music.
Justin Bieber’s Company NFTs Will Boost Web3 Interactions
“Company” was originally featured on Justin Bieber’s fourth studio album, “Purpose,” released in 2015. As an album track, it achieved respectable chart positions in multiple countries, including New Zealand, where it debuted at number 30 and reached its peak position at number 18.
Besides Justin Bieber, Anotherblock has already ventured into the Web3 landscape with major figures in the music industry, including global sensations like Rihanna, Martin Garrix, and The Weeknd.
This move towards Web3 technology is a trend embraced by music giants worldwide. Recently, Abel Makkonen Tesfaye, better known as The Weeknd, announced his “After Hours Til Dawn” tour scheduled for November and December 2023 in Australia and New Zealand. This partnership between one of the world’s biggest pop stars and a leading exchange aims to infuse Web3 technology into the experiences of music enthusiasts attending the concerts.