- The reputable music distributor and Coinbase have joined hands to help creators benefit from blockchain technology.
- UnitedMasters are partnering with reputable companies to promote artist recognition.
U.S. music distributor UnitedMasters will collaborate with Coinbase to pay their content creators in digital assets. Content creators have the independence to accept payment either in cryptocurrency they choose or in dollars. Moreover, the music distributor can allow them to receive their royalties partially in crypto and U.S. dollars.
The alliance allows UnitedMasters to dispense financial empowerment to independent artists. Individuals who utilize the UnitedMasters app can benefit from advanced financial opportunities, transparency, and equity with Coinbase‘s payroll product. Artists can also access the entire product offering, which includes earning, spending, trading, and borrowing.
Tapping the best out of creators
According to the Founder and CEO of UnitedMasters, Steve Stoute, the partnership gives independent artists a chance to get their royalties in digital assets. He noted that the modern innovations ensure that the economics of the music business caters for the creators’ welfare.
In a written statement, Stoute continued to explain that artists need to be recognized for their work. He added that the music distributor is committed to ensuring the creators benefit from modern technology with the financial evolution.
UnitedMasters believes the move will also decentralize the commerce behind the music business. Digital currencies will also be boosted as a means of conducting routine business. Stoute notes that the crypto world is volatile and risky. However, he believes that the interested creators are knowledgeable on the associated risks.
For this reason, content creators are liable for their decisions. They cannot blame the UnitedMasters in case the value of their royalties plummets. Digital currencies are volatile but generally beneficial.
Surojit Chatterjee, Coinbase Chief Product Officer, says that the goal is making crypto payments swift for every firm involved. He added that the financial industry is transforming with better innovations and that its payroll product will soon become a global payment tool.
Coinbase is exploring several financial options. The platform recently rolled out the ability for users to deposit their paychecks into their online accounts on their popular forum. According to Max Branzburg, vice president of Coinbase, customers can retrieve their world-class financial services, and users can now utilize the new services for any trading. The prevalent global exchange aims to dispatch the best financial services to almost 70 million users using crypto-first products.
The independent artist distribution platform is among the first companies in the music industry to provide crypto payments. Steve Stoute founded the company in 2017. Over the years, the firm ensures open-minded artists get their fans quality music.
The Music distributor is sponsored by several companies, including Apple, Andreessen Horowitz, NBA, and Google parent Alphabet. The partnerships intend to bring more exposure to the music fraternity. Uniting with the world’s biggest brands help artists acquire recognition. UnitedMasters has grown to almost half a million artists with 5 billion streams. The platform has over a half-million distributed tracks. UnitedMasters has molded careers of artists like NLE Choppa, Lil Tecca, Tobe Nwigwe, among others.