Have you ever wanted to own a little piece of a Justin Bieber song? Writer and producer Andreas “Axident” Schuller is about to sell NFTs giving owners a percentage of future streaming royalties for Justin Bieber’s hit “Company.”
Schuller, who has also collaborated with the likes of Pitbull and Jason Derulo, has teamed up with blockchain-based music rights platform AnotherBlock to sell a total of 1% of streaming royalty rights to Bieber’s “Company” over 2,000 Ethereum NFTs.
Each ERC-721 token can be purchased starting at 0.017 ETH (approximately $28) and gives each holder 0.0005% of future streaming revenue from digital service providers such as Apple Music, Tidal, and Spotify. As it stands, royalties will be paid every six months, but AnotherBlock has previously teased “major updates” on this front.
we are incredibly proud to work with the best artists and producers in the world
AXIDENT invites you to become a co-owner of the world famous JUSTIN BIEBER song “COMPANY”◾️
Beliebers out there deserve to transform from passive listeners to empowered music stakeholders pic.twitter.com/bbSjLIEzoc
— another block (@anotherblock_io) September 6, 2023
Company” sales begin September 7where both credit card and crypto payments are accepted by AnotherBlock.
“Company” was released in 2015 as part of Bieber’s Grammy-nominated fourth album, “Purpose,” with Axident serving as writer and producer on the lavish pop song. So far, the song has racked up over 500 million streams on Spotify alone.
“‘Company’ holds a special place in my heart, and I immediately embraced the concept to share some of it with Justin’s remarkably devoted fans,” Schuller said in a statement. “In this industry, nothing matters more than our fans, and the merging of blockchain and music rights opens the door to a whole new realm for rights holders and enthusiasts alike. This approach is democratic and means the future.”
“The ownership of a song far outweighs its monetary value; it forges a profound connection to art that has been beyond the reach of fans until now,” he added.
Another block has previously sold streaming royalty rights to Rhianna’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 series of NFTs that don’t offer a portion of the streaming royalty payments.
Rihanna producer sells royalties to ‘Bitch Better Have My Money’ as NFTs
“By transferring ownership in the music industry to people who really love music, we increase the value of music and also make artists understand the value of their rights,” said the AnotherBlock. website claims.
Bieber herself is not personally involved in the sale of Axident’s share of the streaming rights to “Company,” just as Rihanna herself was not involved in the sale of a producer’s partial rights to “Bitch Better Have My Money.” Yet Bieber did has delved into the NFT space as owner of A Bored Ape Yacht Club profile picture (PFP), among other assets.
Axident’s move comes as more and more musicians are turning to Web3 technologies to try and monetize their art.
Last November, electronic musician Justin “3LAU” launched Blau’s Web3 music platform to be Royal marketplace for music rights after an investment of $16 million last year. In February, Royal claimed it had already paid out more than $132,000 in royalties to its NFT collectors.
Meanwhile, Solana-based music platform Vault launched an ongoing NFT project last month, aimed at helping underground bands distribute live recordings via limited edition tokens.