Teen idol Justin Bieber’s hit song “Company” is innovatively turned into a royalty-sharing NFT. Starting today, fans can earn a 1% royalty cut on the song’s streaming revenue, all thanks to a recent partnership between music-focused Web3 platform another block and co-producer of the song, Andreas Schuller (“Axident”).
Since Company’s debut in March 2016, the song has reached number 53 on the US charts and secured a spot in Australia’s top 40. Moving forward to today, the song has received a whopping 500 million international streams.
Company is once again creating hype around the pop star and will be available to tune in through a limited supply of 2,000 NFTs worth $28 each. This initiative is similar to other music industry titans RihannaThe Weeknd, Martin Garrix, Alan Walker and Offset, who have also been on another block’s bandwagon.
While Axident will continue to retain the music ownership rights to this famous Bieber song, all owners of the soon-to-be NFT will be able to increase their fandom through passive income, getting paid every time Company is played!
we are incredibly proud to work with the best artists and producers in the world
AXIDENT invites you to become a co-owner of the world famous JUSTIN BIEBER song “COMPANY”◾️
believers out there deserve to transform from passive listeners to empowered music stakeholders pic.twitter.com/bbSjLIEzoc
— another block (@anotherblock_io) September 6, 2023
Turning tunes into on-chain revenue gold
Over the years, another block has embedded NFTs with expected earnings powered by Unchained music, in addition to numerous on-chain royalty-sharing NFT platforms such as Royal and SongBits. As music in the digital world unfolds, new strategies continue to emerge.
Web3 initiatives have created an engaging view of the music industry, enabling direct interactions between fans and artists with a commitment to reshaping distribution, production and monetization. Through NFTs—with their built-in security—a symphony of opportunity takes shape, strengthening fan-artist relationships and ensuring fair compensation for music creators and enthusiasts through innovative means.
In short, the harmony of NFTs can turn songs into financial rewards, paving a path to a more balanced and interconnected music ecosystem, and another bloc is at the forefront of the movement.
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