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Justin Bieber’s hit song from 2015 “Company” has been turned into an NFT by anotherblock from which fans could earn royalties from future streams of the track. On Sep. 7, the blockchain-centric music tech platform anotherblock and the co- producer of the track Andreas Schuller, also known as Axident, will drop the track “Company” as an NFT with only 2,000 available. The global pop icon Justin Beiber will have one of his hit songs turned into a nonfungible token (NFT), which fans can then invest in a stake of the royalties.  While Axident will still remain the rights holder, fans owning an NFT of the track will then be able to participate in a 1% royalty share in the streams of the song. Axident spoke to the significance of fans in the music industry and how blockchain and music rights open up an entirely new world of interactions. “The ownership of a song bears far greater weight than its monetary value; it forges a profound connection to the art that, until now, has been beyond ...

As the music industry continues to push into the Web3 space getting artists both mainstream and up-and-coming has its hurdles but also major rewards. Musicians and executives alike have seen the power of Web3 tools such as nonfungible tokens (NFTs) to transform audiences into active communities with fewer barriers between artists and fans. Recently, the crypto-savvy Snoop Dogg partnered with country music stars Billy Ray Cyrus and the Avila Brothers to create an NFT experience that crossed genres and created new communities in the process. While Snoop may be a veteran in the space, many musicians find the Web3 world a whole new frontier. Cointelegraph spoke with Bernard Alexander, the head of IP at the company Animal Concerts, which facilitated the aforementioned NFT collection, to better understand what it takes to bring artists into Web3. Alexander affirmed that onboarding someone like Snoop is very different from “artists who don’t typically keep up with the Web3 ecosystem.” It als...

Monetizing digital art with NFTs provides proof of ownership, increased value and potential for royalties. Nonfungible tokens (NFTs) offer a new way to sell and distribute digital art, and they have the potential to unlock new revenue streams for artists in the digital age. Here are five ways to monetize your digital art with NFTs. Fractionalized ownership This involves splitting the ownership of an artwork into smaller parts and selling them as tokens, allowing multiple investors to own a stake in the artwork. For example, an artist can create 100 tokens for a piece of art and sell them to 100 different buyers, each of whom owns a share of the artwork. Related: How do you assess the value of an NFT? Dynamic NFTs Dynamic NFTs are a type of NFT that changes over time, creating a unique and evolving experience for the owner. Dynamic NFTs can use external data sources to update the artwork, such as social media feeds or actual occurrences.  For example, “The Eternal Pump” is a dynamic NF...

OpenSea’s terms of service explicitly prohibit individuals and organizations from sanctioned regions from using its platform. Nonfungible token (NFT) Marketplace OpenSea has been banning artist s and collectors from Cuba, citing United States sanctions as the key reason behind its action. According to a report published by Artnet, 30 artists and collectors have been banned from the popular NFT marketplace until now. The most noted artist to face the axe includes well-known Havana-based artists Gabriel Guerra Bianchini and Fábrica de Arte Cubano. OpenSea marketplace has mentioned in its terms of service that it explicitly prohibits sanctioned individuals and individuals in sanctioned jurisdictions. The NFT marketplace’s adhesion to United States sanctions was widely known and included countries such as Venezuela, Iran and Syria. However, the recent blocking of Cuban artists adds the country to that list as well. A Twitter profile called NFT Cuba Art revealed earlier in December that ...