Blockchain Music Platform anotherblock to Release Hit Song "Company" as an NFT, Allowing Fans to Invest in Royalties
Summary:
Blockchain music platform anotherblock will release the track "Company" as an NFT, allowing fans to invest in a stake of the royalties. The song, co-produced by Axident, has garnered over 500 million streams. The release aims to shine a light on the producers behind the music and create new revenue streams for them. anotherblock has previously worked with popular artists like The Weeknd and Rihanna. Tokenizing music royalties as NFTs could revolutionize the industry.
Blockchain music tech platform anotherblock will release the track "Company" as an NFT, with only 2,000 available. Andreas Schuller, also known as Axident, is the co-producer of the track. Fans who own the NFT of the song will have the opportunity to invest in a stake of the royalties, while Axident remains the rights holder. The song has already amassed over 500 million streams and achieved success on the charts. Michel D. Traore, the CEO of anotherblock, believes that delivering beloved songs through Web3 tools can introduce the masses to blockchain technology. The royalty share being divested by Axident aims to recognize the often overlooked producers behind the songs and create a new revenue stream for them. anotherblock has previously worked with major names in the music industry like The Weeknd, Rihanna, and Martin Garrix. Tokenizing music royalties as NFTs has the potential to benefit artists, as suggested by a recent magazine article.
Published At
9/6/2023 7:27:19 AM
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