Beatport will begin accepting Bitcoin as payment from customers beginning in June, becoming the first major digital music retailer to do so.
Beatport is partnering with the leading crypto currency marketplace, Crypto.com, as the payment gateway for its customer-facing Bitcoin product, launching in June. Hong Kong-based Crypto.com is a payment and cryptocurrency platform that enables users to buy, sell, and pay with crypto.
"When it benefits and strengthens the artist community, there is no reason to stop innovating,” said Beatport's CEO, Robb McDaniels. "It's clear that, even in the midst of a pandemic, the DJ/Producer community is willing to lead the industry towards embracing new technology and innovative mediums for engaging with their fans, and the world of crypto currencies and non-fungible tokens are a clear example of this fact.
“We are so honoured to be collaborating with an incredible array of artists - both musical and visual - and partnering with a world-class company like Crypto.com. For Beatport, this is just the beginning of our exploration into the metaverse and we are committed to the long-term opportunities this revolutionary technology portends.”
Highlighting its commitment to the emerging crypto and blockchain industries, Beatport has also signed a partnership with Crypto.com to drop a curated NFT, Music for Future Dance Floors, on April 23.
It is the first of a series of A/V compilations planned from Beatport.
Exclusive, unreleased tracks from DJ/producers Sasha, Charlotte De Witte, Boyz Noize, Pan-Pot, a new collaboration between Nic Fanciulli and Alec Monopoly called Sold As Seen, and a bonus track from Sama' Abdulhadi, will be featured with visual art from Berlin-based Leif Podhajsky, who has collaborated with the likes of Bonobo, Tame Impala and the Sydney Opera House.
Leif Podhajsky said: “As a digital artist who has worked extensively creating visual worlds for music – I'm genuinely excited by what NFT's can offer all creatives. It's breathed new life into what it means to create artwork and collect music in the modern age. I'm thrilled to be teaming up with Beatport and the amazing lineup of electronic musicians, to offer a new way to collect and experience art and music, something that I think is truly worth collecting.”
All 10 tracks will be packaged with bonus material as a 10-of-10 auction, priced $303 each, and will include the bonus track, four guest passes to one show for each artist and extra visual content. A portion of the proceeds will be contributed to charity, including a carbon offset donation from Beatport.
“Beatport’s core ethos of empowering artists to share their work directly with fans digitally is a shared mission here at Crypto.com,” said Joe Conyers III, EVP, global head of NFTs. “We’re excited to collaborate with them on this drop to expand what’s possible in the world of NFTs."
Charlotte De Witte said: "The world of NFTs is an interesting new platform for artists to explore their output. We’re very curious to explore this new world together with Beatport and learn what this could mean for our world."