2 mins readTop pop star, Justin Bieber, decided to make his song, "Company", an NFT (non-fungible token). This NFT will enable fans to invest and get royalties.
The tech platform named anotherblock and Andreas Schuller (called Axident), the song co-producer, will help. They will 'drop' the NFT on September 7. But, only 2,000 will be available.
Fans Play a Major Role
Now, who get these NFTs will share 1% of song's royalties. While Axident keeps the song rights, this makes fan-singer connection stronger. He pointed to how vital fans are. In his view, blockchain and music rights create a whole new fan world.
He said this: “Owning a song means a lot. It's not just about money. It's about building a deep bond with the art. Before, fans could not do this.”
When first released, the song did great. It was among Australia’s top 40. It got to 53 on the United States charts. By now, the song got over 500 million streams.
World of Music with Web3
Michel Traore is the co-founder and CEO. His company is Anotherblock. Michel spoke passionately. He talked about delivering popular songs. He believes in these songs.
According to him, they're powerful. They can help introduce Web3. But who are they introducing it to? To the masses, of course. He mentioned the song "Company". According to him, it's a prime example. It's a song with huge potential.
Thanks to Web3 tools. They can offer something. Something new. What is it? They can offer music fans a lot. But wait, there's more. Until now, this was not so. The general public couldn't access it. But things are changing. And they're changing for the better.
Producers and Royalty Shares
Traore also spoke about royalty shares. He said Axident is reducing them. But why? Because producers need recognition. They don't often get it. Traore wants to change this. He wants to highlight the creators. He's talking about the people behind the songs.
This is significant. It means more. It opens up a revenue stream. For who? For the producers. There are various benefits. One, fans get to discover new music. Two, they can connect with these talented folks. It's about appreciating their amazing work.
Collaborations with Music Giants
What about Anotherblock? They're not resting. They've been up to big things. They've worked on Web3 ventures. With who? With big names in the music industry. Names like Rihanna, The Weeknd, and Martin Garrix.
Final Thoughts
His song "Company" is creating waves. It's becoming an NFT. For what purpose? For royalty-sharing. This is big. It's a big step for music. It deepens the bond. Between fans and the music they love.
Producers also benefit. How? They get a new revenue stream. And there's more. It's an introduction to Web3. It's for the masses. It shows the power of blockchain technology. It's potential in the music industry is huge. It's an exciting time. For the fans. For the producers. For everyone in music.
