While virtual currencies are used for all kinds of payments, they still cannot be used for buying music records. This could change soon, with Björk becoming the first world-known artist to allow fans to buy her album with cryptocurrencies.
The record, titled “Utopia” can be pre-ordered with four different digital currencies – bitcoin, audiocoin, litecoin, and dashcoin. The artist cooperated with a blockchain startup Blockpool in making this venture possible.
And if fans decide to pre-order the record directly from Björk, or from One Little Indian, the artist’s home label, they will be given a gift of 100 audiocoins, a new cryptocurrency designed specifically for buying music. The gift can be used to buy more music, or it can be converted into fiat money or other digital currencies.
Kevin Bacon, Blockpool’s CEO, stated that “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.”
The company is currently constructing a payment plugin in cooperation with One Little Indian, and when it goes live, it should allow users to pay for any record from the label with cryptocurrencies. Utopia releases on November 24, and aside from using cryptocurrencies, fans can pre-order it via credit/debit card or PayPal.
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