Justin Bieber’s hit song from 2015, “Company,” has been turned into an NFT by anotherblock, a blockchain-centric music tech platform. The NFT, which will be released on September 7, will give fans the opportunity to earn royalties from future streams of the track.
The NFT is a limited-edition collectible that includes a high-quality audio file of the song, as well as a digital artwork created by Andreas Schuller, the co-producer of the track. The NFT will be sold for 0.2 ETH, or about $600.
Fans who purchase the NFT will be entitled to a share of the royalties generated from future streams of the song. The exact percentage of royalties that fans will receive has not yet been disclosed.
This is the first time that Justin Bieber has released an NFT of one of his songs. The move is seen as a way for the singer to connect with his fans and give them a more tangible way to own his music.
It is also seen as a way for Bieber to experiment with new ways to monetize his music. The music industry is constantly evolving, and NFTs could be one of the ways that artists can generate new revenue streams in the future.
The release of the “Company” NFT is just the latest example of how NFTs are being used in the music industry. In recent months, there have been a number of high-profile NFT music sales, including Kings of Leon’s album “When You See Yourself” and Grimes’ single “We Appreciate Power.”
Also read: Bitcoin NFTs :How they are created and sold
As NFTs continue to gain popularity, it is likely that we will see more and more artists release their music in this format. NFTs offer a number of advantages for artists, including the ability to connect with fans in new ways, generate new revenue streams, and track the ownership and distribution of their music.
It will be interesting to see how the music industry evolves as NFTs become more mainstream. Only time will tell whether NFTs will become the standard way for artists to release their music, but it is clear that they have the potential to disrupt the industry.
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