Pop sensation Justin Bieber is entering the world of NFTs, with the release of blockchain-based royalties for his hit track “Company.” In collaboration with producer Axident and music platform anotherblock, 2,000 limited NFTs will drop on September 7th.
Holders will be able to earn a share of the song’s streaming revenues, connecting fans and creators in innovative ways. The launch represents the latest move blending music rights with Web3 models.
Unlocking New Revenue Streams Through NFT Ownership
Produced by Axident, Bieber’s infectious chart-topper “Company” has amassed over 500 million streams to date. Now, Axident is releasing an NFT collection that enables holders to gain a 1% royalty share in the future revenues.
While retaining overall rights, Axident sought to leverage NFT utilities to reward fans and decentralize music ownership. Each NFT unlocks fractional streaming royalties, alongside other potential perks like merchandise discounts.
Commenting on the significance of fan engagement in the industry, Axident noted:
“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.”
For Andreas Schuller, better known as Axident, this collaboration represents a chance to properly acknowledge producer contributions while connecting with audiences in new ways.
we are incredibly proud to work together with the best artists and producers in the world
AXIDENT invites you to become a co-owner of the world renown JUSTIN BIEBER song "COMPANY"◾️
beliebers out there deserve to transform from passive listeners to empowered music stakeholders pic.twitter.com/bbSjLIezoc
— anotherblock (@anotherblock_io) September 6, 2023
Blending Blockchain With Mainstream Music
Launching via the anotherblock platform, only 2,000 “Company” NFTs will be minted when sales open September 7th. Anotherblock has partnered with top music stars in the past, including Rihanna and The Weeknd.
Co-founder Michel Traore discussed anotherblock’s goal of bringing universally popular songs into Web3 ecosystems. He stated:
“Through Web3 tools, we can offer music enthusiasts something that, until recently, hasn’t been accessible to the general public.”
Along with rewarding fans and creators, anotherblock seeks to showcase producer impact within the industry. As Traore observed:
“Producers often do not receive the recognition they truly deserve. 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.”
Web3 and Music: The Growing Trend of Song NFTs
The “Company” NFT drop follows similar releases aimed at reshaping music royalties. In February 2023, 2,000 NFTs for Rihanna’s “B**** Better Have My Money” quickly sold out, granting holders a streaming royalty share.
These song-based NFTs represent a wider movement toward Web3 models, as the music landscape evolves. Powered by blockchain technology, NFTs enable fractional ownership of songs and their revenues.
Along with royalties, music NFTs can also unlock perks like metaverse experiences and access to the creative process. As the Web3 world intersects with major artists, music NFT utilities continue expanding.
For labels and platforms like anotherblock, NFTs present a launchpad for reinventing music rights for the digital era. Rewarding superfans while compensating creators in new ways, song NFTs are gaining momentum fast.
The Growth of Music NFT Platforms and Communities
Propelled by marquee drops like Bieber’s “Company,” specialist music NFT platforms are proliferating. These sites facilitate mints, sales, and royalties for song catalogs big and small.
Along with anotherblock, Audius, Sound.xyz, and OneOf represent leading music NFT ecosystems with major artist partners. Dedicated Discord and social channels are also driving engaged Web3 music communities.
Music NFTs further enable direct support between fans and artists. Unsigned creators can cultivate loyal followings and revenue streams without traditional label deals.
As blockchain unshackles the industry, platforms like anotherblock are poised to scale music NFT adoption while fulfilling untapped fan demand.
The Democratization of Music Rights and Ownership
At its core, the proliferation of music NFTs aims to democratize rights and royalties for the streaming era.
Whereas major labels and DSPs like Spotify historically hoarded revenues, NFTs create new decentralized pathways. Fans can directly support artists, own shares in songs, and access exclusive benefits through verified ownership.
Music NFTs similarly allow creators to engage fans, monetize without intermediaries, and gain recognition within the burgeoning Web3 space.
Thanks to blockchain transparency, NFT-based music ecosystems promise to redirect value to the artists and fans driving the industry. The model aligns incentives through collaborative participation in songs rather than top-down ownership.
Justin Bieber’s high-profile “Company” NFT drop hints at the decentralization of music ahead. As more stars embrace Web3 and spotlight its disruptive possibilities, the era of community-driven music awaits.
The release of Justin Bieber’s “Company” NFTs reflects growing efforts to bridge music rights with Web3 models. Fans can purchase one of 2,000 NFTs starting September 7th to earn 1% streaming royalties on the hit track.
Created by producer Axident and platform anotherblock, this NFT drop follows other music royalty releases from major artists. By fractionalizing song ownership, fans get new ways to engage and earn while creators build direct audience connections.
As blockchain technology unlocks the potential to decentralize music, NFTs are fast emerging as the future conduit between artists and supporters. Ultimately, the foundations of the industry itself may be forever transformed.
Who is releasing the “Company” NFT?
Producer Axident has partnered with music platform anotherblock to issue the NFT.
How many NFTs will be minted?
There will be a limited set of 2,000 “Company” song NFTs available.
What benefits do NFT holders receive?
Holders earn 1% streaming royalties on “Company” in perpetuity. Other perks may be added.
When can fans buy the Justin Bieber NFT?
The official release date is set for September 7th, 2023.
How much will the “Company” NFT cost?
Pricing is still to be announced by Axident and anotherblock.
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