Beliebers Can Now Own a Piece of Justin Bieber's "Company" NFT
TL;DR:
- Andreas “Axident” Schuller, a renowned writer and producer, is set to sell 2,000 Ethereum NFTs representing a 1% share of streaming royalties for Justin Bieber’s hit song “Company.”
- These NFTs will be available for purchase from 0.017 ETH (about $28) and grant holders 0.0005% of future streaming proceeds from platforms like Apple Music and Spotify.
- The sale begins on September 7, and both credit card and crypto payments are accepted.
- Bieber is not directly involved in the sale, but this move reflects a growing trend of musicians using Web3 technologies to engage with fans and increase the value of their music.
- Web3 music platforms like Royal and Vault have also explored NFTs to distribute music rights and royalties to fans.
The world of NFTs keeps getting more intriguing. Now, imagine owning a tiny slice of a Justin Bieber hit song, “Company”.
The Bieber Connection
Andreas “Axident” Schuller, known for his work with artists like Pitbull and Jason Derulo, has teamed up with blockchain-based music rights platform AnotherBlock to make this a reality.
Axident plans to sell 2,000 Ethereum NFTs, each representing a 1% share of the streaming royalty rights to Justin Bieber’s “Company”.
These NFTs will be available for purchase starting from 0.017 ETH (about $28).
But here’s the kicker – each holder of these tokens will receive 0.0005% of future streaming proceeds from platforms like Apple Music, Tidal, and Spotify.
The royalty payments are set to be made every six months, although AnotherBlock has teased “major updates” on this front.
Mark Your Calendar
The sale of these unique NFTs begins on September 7, and it’s interesting to note that both credit card and crypto payments will be accepted by AnotherBlock.
“Company” holds a special place in Axident’s heart as he worked on this Grammy-nominated pop track as a writer and producer.
The song, released as part of Bieber’s album “Purpose” in 2015, has amassed over 500 million streams on Spotify alone.
A Fusion of Music and Blockchain
Axident expressed his enthusiasm for sharing a portion of the song with Justin Bieber’s dedicated fans, emphasizing that this approach is democratic and signifies the future of the music industry.
According to him, “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.”
It’s important to note that Bieber himself is not personally involved in this sale.
However, this move aligns with a growing trend of musicians exploring Web3 technologies to increase the value of music and offer fans a closer connection to their art.
More Than Just Bieber
Last November, electronic musician Justin “3LAU” Blau’s Web3 music platform Royal launched its music rights marketplace after a $16 million investment the previous year.
In February, Royal claimed it had already paid out over $132,000 in royalties to its NFT collectors.
Additionally, Solana-based music platform Vault recently launched an ongoing NFT project designed to help underground bands distribute live recordings via limited-edition tokens.
As the world of music and NFTs continues to evolve, fans can not only enjoy their favorite tunes but also become stakeholders in the music they love.
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