A large American DJ-linked online music store has joined the crypto adoption frenzy by accepting bitcoin payments. Beatport is the latest company to adopt a crypto payment gateway after signing a partnership with crypto exchange Crypto.com.
Bitcoin payment gateway to launch in June
Per Music Week, the digital music retailer will formalize the adoption in June, allowing all customers to pay for their subscriptions or purchase songs via bitcoin (BTC), processed by the Hong Kong-based crypto exchange.
Robb McDaniels, CEO of Beatport, expressed great interest in cryptocurrencies, as well as non-fungible tokens (NFTs), seeing the adoption of bitcoin payment in Beatport as a milestone in the digital music industry. :
When it benefits and strengthens the artist community, there is no reason to stop innovating. (…) It is clear that, even in the midst of a pandemic, the DJ / producer community is ready to lead the industry towards the adoption of new technologies and innovative media to interact with their fans, and the world of Cryptocurrencies and non-fungible tokens are a clear example of this fact.
Unpublished titles featured in NFTs with visual art by Leif Podhajsky
Along with the adoption of BTC payments, Beatport also announced that the partnership with Crypto.com involves the launch of an organized NFT named “Music for Future Dance Floors” on April 23.
According to the announcement, unreleased tracks from DJs and producers such as Sasha, Charlotte De Witte, Boyz Noize, Pan-Pot, a new collaboration between Nic Fanciulli and Alec Monopoly titled “Sold As Seen”, as well as a bonus track from Sama Abdulhadi will be featured in the NFT alongside visual arts by Australian art director Leif Podhajsky.
He is known to have worked with album covers for artists such as Kylie Minogue, Young Magic, Tame Impala, Bonobo, among others. Regarding the launch of the NFT, Podhajsky said:
As a digital artist who has done a lot of work creating visual universes for music, I am truly excited about what NFT can offer any creative person. He breathed new life into what it means to create works of art and collect music in the modern age.
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Image credits: Shutterstock, Pixabay, Wiki Commons
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