Bitcoin has indeed reached greater heights as a singer decides to accept cryptocurrency as payment for her newest album.
Björk Guðmundsdóttir is an Icelandic singer, songwriter, actress, record producer, and DJ. She initially became known as the lead singer of the alternative rock band The Sugarcubes, whose 1987 single “Birthday” was a hit on US and UK indie stations and a favorite among music critics.
This singer from Iceland is making a history as she decided to accept cryptocurrencies as payment for her newest album.
Fans who pre-order the album directly from the artist or her label One Little Indian will further receive a reward of 100 audiocoins – a cryptocurrency designed specifically for music industry – which can then be converted into other cryptocurrencies or into fiat money, the report adds.
Kevin Bacon, CEO of Blockpool, told the industry news source:
“People have done things with crypto and artists before, but this is the first time a global artist has done anything like this. While it will be interesting to see how the crypto community responds to this, Utopia is also a gateway for people to go into crypto for the first time.”
Bacon added that Blockpool, which is building a cryptocurrency payments plugin for the label’s online store, would help in providing information for people who “don’t know anything about crypto.”
Aside from the addition of cryptocurrency payments for music releases, various players now looking to blockchain technology to transform the way the music industry rewards artists and writers. Further, Slovenian concert-booking platform Viberate is aiming to disrupt the industry with blockchain, and boasts bitcoin entrepreneur Charlie Shrem as an advisor.