Beatport goes ‘crypto’ accepting Bitcoin and minting NFTs

Beatport will accept Bitcoin payments from June in a move that sees the digital music retailer become the first of its kind to adopt the cryptocurrency as a payment form. The news has been coming thick and fast as the digital music platform also announced a partnership with crypto.com to expertly curate an NFT collection titled ‘Music for Future Dance Floors’, further stamping their approval on the emerging cryptocurrency and blockchain space.

The NFT is a rare and exclusive collection indeed; dropped on the 23rd of April, it sold out within minutes as collectors rushed in to invest. Included are previously unreleased tracks from world-leading artists such as Sasha, Charlotte De Witte, Pan-Pot and Boys Noize, plus a unique collaboration between Nic Fanciulli and Alec Monopoly, working under the alias Sold As Seen.  The token ends with a bonus track from Sama’ Abdulhadi, coupled with visual art from the Austrian graphic designer Leif Podhajsky, known for his cutting-edge imagery, creative direction, and work.

Some collectors have immediately relisted the NFTs on the secondary market, with some asking up to $62.000 for a Charlotte de Witte NFT (17 editions minted) and up to $1.000.000 for Sasha’s (31 editions minted). Others are holding back hoping to cash in big-time later on.

There are plans afoot for a continuation of this a/v compilation series, which will see the inclusion of emerging artists alongside the already established. Each compilation will have 10 tracks, bonus material, and guest passes to live shows and extra visual content with a percentage of the $303 token value going to charity. 

Read: The dawn of NFTs

The crypto and blockchain world moves at pace and seems to be dragging retail along for the ride as the currency landscape moves into an ever-more digital age. Accepting bitcoin as payment is a bold move and one that we welcome with open arms. Whilst NFTs are still quite expensive to create and therefore purchase, by offering exclusive content and additional products, its investment becomes that bit more tempting.