World famous Canadian singer Justin Bieber has made an innovative move in the crypto world. To be precise: the pop star does it non-fungible token (NFT) continues to explore the landscape by turning one of its hits into a digital collectible. Fans can also earn pocket money with the investment.
Unique NFT with earning potential
Yesterday, anotherblock, a blockchain-focused music technology platform, announced that “Company,” a Bieber song released in 2016 that has amassed more than 500 million streams, will be converted to an NFT today. A total of 2,000 pieces are available for fans to invest in to secure a share royalties receive.
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” ◾️
The believers out there deserve to transform themselves from passive listeners to self-determined musical actors pic.twitter.com/bbSjLIEzoc
– anotherblock (@anotherblock_io) September 6, 2023
While Andreas Schuller, the song’s co-producer, remains the rights holder, fans who own an NFT can receive 1 percent of it royalties Earn with every stream.
Schuller, better known as Axident, believes blockchain and music rights can create a new world of interaction between fans and the music industry. Specifically, he said the following:
“Owning a song far exceeds its monetary value; It creates a deep connection to art previously unattainable for fans.”
Michel Traore, co-founder and CEO of anotherblock, said that providing popular songs is a powerful way to introduce Web3 to the masses. Additionally, it not only creates a revenue stream for products, but also allows fans to discover and connect with the creators of their favorite songs.
There is a price of $27.50 for each “corporate” NFT.
Justin Bieber in the NFT world
This isn’t Justin Bieber’s first exposure to NFTs. In January of last year, Bieber bought a Bored Ape Yacht Club (BAYC) NFT for a whopping $1.3 million. In July, Crypto Insiders also reported that his very expensive monkey had fallen in value to around $59,000.
Bieber has also been accused of promoting his “Bored Ape.” A group of Bored Ape investors believe Yuga Labs, the company behind the BAYC collection, deliberately created hype through collaborations and celebrity hiring.