Beatport is the first digital music retailer to accept Bitcoin
Beatport will also release the first NFT dance music compilation
Beatport has committed to the crypto boom by partnering with leading currency marketplace Crypto.com to launch Bitcoin payments and the first ever NFT dance music compilation.
Beatport has announced from June that it will begin accepting Bitcoin as payment from customers, becoming the first digital music retailer to do so.
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It has also signed a partnership with Crypto.com to release an audio/visual compilation titled ‘Music For Future Dance Floors’ on April 23.
Robb McDaniels, Beatport CEO, said: “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 crypto currencies and non-fungible tokens are a clear example of this fact.
“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.”
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The compilation will be the first in a rare series of A/V collections planned by Beatport, and will feature the likes of Sasha, Charlotte de Witte, Boys Noize, Pan-Pot, a new collaboration between Nic Fanciulli and Alec Monopoly called Sold As Seen, and a bonus track from Sama’ Abdulhadi.
Charlotte de Witte said: “The world of NFT’s 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.”
Visual art on the compilation will come from Berlin-based Leif Podhajsky who has spent years working with the likes of Bonobo and Tame Impala.
Leif added: “As a digital artist who has worked extensively creating visual worlds from 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.”
The compilation will also feature emerging artists Alignment, Third Son, Anna Lann and Risa Taniguchi who will join the established stars in mini drops priced at $303 each.
All tracks will then be packaged with bonus material as a 10-of-10 auction and will include the bonus track, guest passes to shows from each artist and extra visual content.
A portion of proceeds will go to charity including a carbon offset donation from Beatport.
Beatport’s partner Crypto.com recently launched its own NFT marketplace for artists to connect to their vast customer base to sell unique and creative digital goods.
Joe Conyers III, Global Head of NFTs for Crypto.com, said: "Beatport’s core ethos of empowering artists to share their work directly with fans digitally is a shared mission here at Crypto.com.
“We’re excited to collaborate with them on this drop to expand what’s possible in the world of NFTs.”
Paddy Edrich is a freelance journalist. Follow him on Twitter here