Own a Piece of Bieber's 'Company'-NFTs Offer Royalty Shares
Producer Andreas Schuller Teams up with AnotherBlock to Sell NFTs for Bieber's Hit Song
In a groundbreaking move, renowned writer and producer Andreas “Axident” Schuller, known for his collaborations with artists like Pitbull and Jason Derulo, is set to revolutionize the music industry.
Through a partnership with blockchain-based music rights platform AnotherBlock, Schuller is offering fans an unprecedented opportunity to own a share of future streaming royalties for Justin Bieber's hit song, "Company."
The NFT Offering
Schuller, the creative mind behind the lush pop track, has decided to sell a 1% total portion of the streaming royalty rights for "Company" through 2,000 Ethereum-based NFTs.
Each token, following the ERC-721 standard, will be available for purchase, starting at 0.017 ETH (approximately $28).
Holders of these NFTs will be entitled to 0.0005% of future streaming proceeds from major digital service providers such as Apple Music, Tidal, and Spotify.
While royalty payments are currently set on a semi-annual basis, AnotherBlock has hinted at significant updates in this regard.
A Special Connection
Released in 2015 as part of Bieber's Grammy-nominated album "Purpose," "Company" has garnered over an impressive 500 million streams on Spotify alone.
For Schuller, this song holds a special place in his heart, making the decision to share a portion of it with Bieber's devoted fans an easy one.
He emphasizes the profound connection between a song and its ownership, stating that it transcends its monetary value.
Through the fusion of blockchain and music rights, a new realm is opened for both rights holders and enthusiasts.
Democratizing Music Ownership
AnotherBlock's mission is to democratize ownership in the music industry, allowing true music lovers to hold a stake in the songs they adore.
By doing so, they aim to elevate the value of music and provide artists with a clear understanding of the worth of their rights.
Previous successful sales by AnotherBlock include streaming royalty rights to hits like Rihanna's "Bitch Better Have My Money," MIMS' "This Is Why I’m Hot," and David Guetta and Martin Garrix’s “So Far Away,” alongside a range of NFTs without streaming royalty shares.
Web3 Movement and Bieber's Involvement
It's important to note that Justin Bieber himself is not directly involved in this venture.
Similarly, Rihanna was not part of the sale of a producer's partial rights to "Bitch Better Have My Money."
However, Bieber has ventured into the NFT space, owning assets like a Bored Ape Yacht Club profile picture (PFP).
Axident's initiative aligns with a growing trend among musicians embracing Web3 technologies to enhance their revenue streams.
Last November, electronic musician Justin “3LAU” Blau’s Web3 music platform Royal introduced its music rights marketplace.
By February, Royal had already distributed over $132,000 in royalties to its NFT collectors.
Additionally, Solana-based platform Vault recently launched an ongoing NFT project to aid underground bands in distributing limited-edition tokens featuring live recordings.
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