Cryptocurrency has gone from being something a friend mentioned in passing conversation to being the latest buzzword on the internet. Billionaires like Elon Musk & Mark Cuban have vouched for the decentralized currency, which has prompted more businesses to accept payments in crypto currencies; more specifically Bitcoin.
Industry giants Beatport are all set to jump onto the Bitcoin bandwagon, by becoming the first major digital music retailer to accept Bitcoin as payment for its services. This new payment method will be made available to users from June.
Beatport CEO Robb McDaniels, says this is only the beginning, as the company is likely to expand it’s list of acceptable digital currencies in the near future. In a statement to EDM.com, he said “The decision to start accepting Bitcoin, and likely a few other cryptocurrencies, is part of an overall long term strategy to embrace and develop new technologies that allow music creators to engage with each other and with fans.”
The digital music retailer further strengthened their involvement in the world of crypto, with the announcement of their partnership with crypto.com, to launch an intriguing NFT venture. Labelled “Music For Future Dancefloors”, features unreleased music from the likes of Sasha, Boys Noize, Charlotte De Witte and more. The audiovisual collectibles popularly known as NFTs, are now available for purchase.