One of Justin Bieber’s popular songs will be converted into a nonfungible token (NFT) that fans can invest in for a portion of the royalties.

The blockchain-centric music tech platform Anotherblock and co-producer Andreas Schuller, also known as Axident, will release the song“Company” as an NFT on September 7, with only 2,000 available.

While Axident retains ownership of the song’s rights, listeners who own an NFT will be eligible for a 1% royalty share on the song’s streams.

Axident discussed the importance of listeners in the music industry and how blockchain and music rights facilitate an entirely new realm of interactions.

The song’s initial release as a single reached number 40 in Australia and number 53 in the United States. The song has accumulated over 500 million streams to date.“Company” is exemplary of a composition with enormpotential in this regard.

Through Web3 tools, we can offer music enthusiasts something previously unavailable to the broader public. Traore highlighted that Axident is selling its royalty share.

“Producers often do not receive the recognition they truly deserve,” he said.“It is important toto shed light on the songwriters behind the songs .

The Weeknd, Rihanna, and Martin Garrix are among the most prominent figures in the music industry with whom Anotherblock has collaborated on Web3 projects.