Musically, "As If It's Your Last" is a synth-pop, house, reggae and moombahton song with its lyrics revolving around finding and losing love.

The demo for the song was originally given to 2NE1 with the title "Blame It on Your Love", where it was proposed as a single for their second studio album, Crush, in 2014.

[6] On the same day, YG Entertainment's CEO Yang Hyun-suk released a photo of Blackpink on the filming location of the new music video, confirming that Blackpink would make a June comeback, which is 7 months after the group's last release Square Two (containing the songs "Playing with Fire" and "Stay") in November 2016.

[15] The song is a mix of dance,[1] "shimmery"synth-pop,[2] house,[3] reggae[3] and moombahton[3] music with disco grooves,[16] a change of sound from their previous releases.

Randy deemed it "disappointing," noting that it didn't live up to the group's previous releases and criticizing the synths for weakening the dark and heavy vibe typical of Blackpink's dance tracks.

However, Ham Chand found the song catchy and enjoyable, praising the vocals and rap, noting that it maintained the same vibe as Blackpink's earlier hits like"Whistle" and "Playing with Fire.

[30] "As If It's Your Last" debuted at number one on Billboard's World Digital Song Sales chart after selling 4,000 copies with only one day of tracking.

[33] On South Korean music programs, "As If It's Your Last" won three first place awards on Inkigayo, achieving a triple crown.

[40][41] The following day, a behind-the-scenes video was released, and YG Entertainment announced that the group would hold a comeback special live on Naver's V App at 8 pm KST on June 22.

[49] Blackpink promoted "As If It's Your Last" on various music shows in South Korea in the month leading up to their Japanese debut in July.

[50][51] The song and its music video were featured in the DCEU film Justice League,[52] where Barry Allen plays it in his apartment in Central City.