In what is seen as a landmark move, giant digital music retailer, Beatport will soon become the first music retailer to begin accepting Bitcoin. A Music Week report published on 20th, April 2021, revealed that one of the biggest and most important online stores for DJs all over the world will begin accepting Bitcoin from June 2021.
The CEO of the company, Robb McDaniels, stated that the music community wants to move with the tide and go the right way by adopting the new cryptocurrency technology. He further stated that it was vivid that even during a pandemic, the DJ/Producer community is willing to embrace innovations and new technology and move with the 21st-century tide for engaging with their fans.
He expressed his belief that accepting cryptocurrencies and non-fungible tokens is the right step in the right direction towards achieving transparency and innovation.
Beatport’s Rapid Rise
Launched in 2003, the firm has risen into a world-renowned online music marketplace where DJs can buy tracks that they intend to play during their sets. It began a subscription-based streaming service known as Beatport LINK in 2019.
Beatport’s Penchant For Innovations
While planning to start accepting Bitcoin payments, Beatport plans to also release its first NFT collection which is titled “Music for Future Dance Floors.” The drop will feature ten exclusive tracks of renowned world DJs, such as Boys Noize, who was recently recruited by pop superstar Lady Gaga for her latest album. It will also feature guest passes and splendid visual materials for fans.