Justin Bieber Will Release His Hit Song As NFT, Fans Get Royalties

Justin Bieber will convert one of his hits into a non-fungible token (NFT), (photo: twitter @justinbieber)

On September 7, blockchain-based music technology platform another blockblock and co-producer of Andreas Schuller's song, known as Axident, will release the song "Company" as NFT with only 2,000 units available.

global pop star Justin Bieber will convert one of his hits into a non-fungible token (NFT), which fans can then buy by fans by getting a share of the song's royalties.

Although Axident will remain the rights holder, fans who have the NFT of the song will be able to participate in the royalty distribution of 1% of the song's streaming. Axident stated the importance of fan roles in the music industry and how blockchain and music rights opened up the world of truly new interactions.

"The possession of a song has a much larger weight than the monetary value; it forms a deep relationship with art that, to date, has been beyond the reach of fans."

The song has reached its top forty positions in Australia and was ranked 53 on the United States charts when it was first released. To date, the song has recorded more than 500 million streams.

Michel D. Traore, co-founder and CEO of another block, explains that presenting a universally loved song is a powerful way of "nalizing" the masses to Web3.

"'Company' is the main example of a song with great potential in this regard. Through Web3 tools, we can offer something to music fans that, until recently, cannot be accessed by the general public," Traore said, quoted by Cointelegraph.

Traore stressed that the royalties section was handed over by Axident. "Produsers often don't get true recognition," he said, "and one of the important aspects for us is to illuminate the creators behind the songs."

"This not only creates new sources of income for producers, but also provides fans with the opportunity to find and connect with these talented individuals and their outstanding work," Tarore said.

Anotherblock has worked on Web3 projects with some of the biggest names in the music industry, including The Weeknd, Rihanna, and Martin Garrix.