"I Lived It" features a nostalgic look at the narrator's childhood. Shelton told The Boot that the song "really stands out to everybody as maybe the best song on the album".
The song peaked at No. 3 on the Country Airplay chart for chart dated June 30, 2018. The song has sold 153,000 copies in the United States as of June 2018.
The accompanying music video for this song features photographs from Shelton's childhood and teenage years, interspersed with flashbacks and footage of Blake performing. It was filmed north of Los Angeles, CA, and directed by Adam Rothlein.