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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...