Beatport – a digital music portal dedicated to DJs and musicians – reportedly disclosed details of its initiative for adding Bitcoin (BTC) to the list of viable payment methods on its website. 

Particularly, the firm reportedly revealed that Bitcoin-enabled payment will officially be available in June. Head of Beatport – Robb McDaniels – claimed that the desire to keep on innovating was the driving force leading to the decision, even during this time of a global pandemic going on. 

“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,” McDaniels reportedly remarked, citing the cryptocurrencies and NFTs are prime instances of this fact. 

Beatport additionally disclosed that it is looking to release its self-developed non-fungible token, dubbed “Music for Future Dance Floors”, via a collaboration with Crypto.com. 

Crypto.com Coin (CRO) is reportedly standing at roughly the 30th spot in terms of market capitalization, with an existing valuation of just above $5 billion, which makes it a multifaceted cryptocurrency project that specializes in a vast array of fields, from in-store crypto-card payments to passive income staking and tokenization.

The audio-visual NFT will reportedly include partnerships with several prominent musicians and artists. A part of the proceeds will be given to charity. McDaniels shared that the firm is devoted to utilizing the advantages that future developments in the blockchain would offer. 

“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.”