Online Music Store Beatport to Start Accepting Bitcoin Payments, Launches Curated NFT

A major American DJ-related online music store has joined the crypto adoption frenzy by accepting bitcoin payments. Beatport is the latest firm that adopts a crypto payment gateway after signed a partnership with crypto exchange Crypto.com.

Bitcoin Payment Gateway Will Be Launched in June

Per Music Week, the digital music retailer will make the adoption official in June, enabling all customers to pay their subscriptions or buy tracks via bitcoin (BTC), processed by the Hong Kong-based crypto exchange.

Robb McDaniels, CEO of Beatport, expressed its high interest in cryptocurrencies, as well as the non-fungible tokens (NFTs), considering bitcoin payment’s adoption in Beatport as a significant step in the digital music industry:

When it benefits and strengthens the artist community, there is no reason to stop innovating. (…) 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 cryptocurrencies and non-fungible tokens are a clear example of this fact.

Unreleased Tracks Featured in NFTs With Visual Art Made by Leif Podhajsky

Together with adopting BTC payments, Beatport also announced that the partnership with Crypto.com involves launching a curated 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 called “Sold As Seen,” as well as a bonus track from Sama’ Abdulhadi will be featured in the NFT alongside visual art from Australian art director Leif Podhajsky.

He is known for having worked with the album arts of artists such as Kylie Minogue, Young Magic, Tame Impala, Bonobo, among others. On the NFT launching, 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.

What are your thoughts on Beatport’s announcement? Let us know in the comments section below.