Beatport has announced it will start to accept Bitcoin as payment from June onwards, becoming the first digital music retailer to accept the cryptocurrency as payment.
The platform has teamed up with crypto currency marketplace Crypto.com as the payment gateway for its customer-facing Bitcoin product.
To mark the announcement, Beatport has also announced plans to launch a music-based NFT, Music For Future Dancefloors, this Friday (23 April).
The collection will feature unreleased tracks from Sasha, Charlotte de Witte, Boyz Noize, Pan-Pot, Sama’ Abdulhadi, Alignment, Third Son, Anna Lann and Risa Taniguchi, as well as a new collaboration between Nic Fanciulli and Alec Monopoly called Sold As Seen.
A portion of the proceeds from the sale of each NFT will be donated to charity, including a carbon offset donation from Beatport.
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Commenting on the initiative, Beatport CEO Robb McDaniels said that it was “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.”