Bitcoin Forum

Beatport, the world's largest online music store for DJs, will start accepting bitcoins in June, according to a report released today by Music Week.
Beatpert CEO Robb McDaniels claims that the music community wants to take the lead in embracing this new technology:
"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, and the world of cryptocurrencies and non-fungible tokens are a clear example of this fact."
Founded in 2003, BitPort quickly became a global online music market where DJs could purchase tracks they played throughout their series.

Beatport’s NFT
In addition to accepting bitcoins, BitPort will also release its first NFT series, Music for Future Dance Floors.
The collection includes 10 exclusive tracks from world-famous DJs, including Boys Noize, who has collaborated with Lady Gaga on her latest album.
Last week, Kings of Leon released their latest album, NFT. Shawn Mendes and The Weeknd are some of the most famous musicians to join the latest crypto craze.


Source: https://u.today/worlds-largest-electronic-music-store-to-begin-accepting-bitcoin

Truely we have to admit that the word NFT gives blockchain technology a new introduction to the world. Because of this nft i  believed that crypto gots another hype to the world. People are comes with their any talent in blockchain technology. And this is a proof that music also a part of nft. Then it also becomes a part of nft. And now they should be collaborate with such a strongest crypto project and which is bitcoin. And i think this news a huge news for bitcoin holder. And i think in upcoming days nft platform will be the most popular  music release platform. Hope soo lets see.

I think the more such news there will be, the more faith there will be in the bright future of cryptocurrency and bitcoin in particular. When all the world's largest services and brands open up such an opportunity, it will raise the level of trust and acceptance in society towards the topic of cryptocurrency. This will increase the number of investors and their investments, expand the community and also make life easier for the millions of people who do it "in the shadow" due to restrictions or illiterate regulation.

Even though I'm not a DJ, surprisingly, this is the first time that I'm hearing about them; Anyone knows why they'll be doing it in June as opposed to now ^{[are they building their own payment processor from scratch]}?

At first, I thought they're not that committed but looks like they've partnered with Crypto.com and they'll be releasing it in there ^{[link (https://crypto.com/nft/drops-event/6171bc5336043f40dab10d3f7b16e68a)]}.

To be honest, music industry is the last thing that I believe will be adopting cryptocurrency and bitcoin as a form of payment but here I am being proven wrong with Beatport doing the adoption, this is going to be a good thing for bitcoin because it will increase its popularity among the music scene.

It's really good news! Using the crypto by celebrities is an example for others. We hope that it will allow people to join the world of crypto.

It is the first time that I hear about this site, but the news of Bitcoin accepting payments needs some details.
Will they keep the Bitcoin or will they use a third party to process the payments and get the dollar in return? Will they invest in Bitcoin? Are they planning to hold Bitcoin?

Also, support NFT tokens is an indication that the site wants to acquire the characteristic that it supports the new innovation and therefore it is not like someone planning to hedge bitcoin.

I agree with your comments. The world's largest electronic music store accepts Bitcoin payment is good news. Prove that Bitcoin is a real valuable asset. This will spread and more and more places to accept payment by Bitcoin. It is not virtual money as people still think.

To me that's not as important as the fact that Bitcoin is becoming more standardized every day. If the average Joe gets used to seeing "Bitcoin accepted here" in both physical and online stores, mass adoption will be just a step away. Another thing is that I don't think it will be used much for day-to-day payments as long as we continue to have expectations of price increases like the current ones.

It is clear that the DJs, producers, singers, musicians community is trying to lead the industry towards new technologies and innovative things in order to have some bond with their fans. Especially in this period of different lockdowns and limitations, that influence on their career and businesses in not positive way mostly. And the world of cryptocurrencies and non-fungible tokens gives them lots of new and good opportunities to them, it is a fact. Lots of people of Art and such kind of businesses revalued the impact of crypto and nowadays try to use such opportunities. And it is a good moment for crypto world.

Another one added to the list of major organizations that have agreed to work with future payments sources Bitcoin.With Beatport being a big name in music industry and huge customers around the world this will definitely will have a effect on Bitcoin market.This is indirect way of promoting Bitcoin as without any investment they are contributing big and helping in fast adoption worldwide.No doubt every company has profit motive through btc acceptance as seen in MicroStrategy and Tesla investment also.

Here is list of some blockchain related music Companies: Blockchain Music (https://builtin.com/blockchain/blockchain-music-innovation-examples)

You are absolutely right with what you said because the company was based in the US and shows the US to be the most users of cryptocurrency. Their integration of Bitcoin is good news for the cryptocurrency community and to their business but this organization doesn't understand that the ATH market season isn't the right time to dive into crypto and they should have done it long ago when the market was still in bearish.

This is another good news for btc and whole crypto world. The more companies and business start accepting btc, more adoption, recognition and acceptance btbtc and cryptos will get.
This will also make government to ban cryptos or overlook them.
Most of them will eventually start regulating cryptos.

Good news indeed as it's clear that adoption truly expands day by day.

And not just they will accept BTC but they will join the NFT craze which is getting more attention nowadays.

Looking for more stores, even small ones, at any place, to follow the same.

Maybe it will be different from what Tesla did. We may want to know if they are also interested in investing in bitcoin or simply accepting bitcoin as a mean of payment for adoption which is their goal. Nonetheless, this should be good news about the increasing adoption of bitcoin by the day.

The NFT play is really trendy something like a collector's item or music etc associated with the celebrities is always a good play and most of the time a big success as an NFT.

It's pretty nice to see them adopt this kind of technology as well, accepting bitcoin as payment doesn't make any sense at this time because at the moment bitcoin is more like an investment, and it's better to invest your bitcoin than to spend it but it's a great adaptation and promotion to bitcoin just getting this recognition.

But buying NFTs is something that I like than buying physical things because it could hold a value and if it has a certain value it will not depreciate just like buying a car or a phone instead increase its market price.

Woah, bitcoin is even coming to the music industry huh? i'm impressed, not many company want to take part in innovation and embracing new technology process, but beatport willing to do that, but it's good for them too, since they are the largest online music store, for sure adapting bitcoin might be good for them.
It's nice to see that many famous musician are into cryptocurrency as well, since they might can also give influence to the fans or make bitcoin become more popular as well.

Excellent news.

It is possible retailers adopting bitcoin support could experience 20% or greater boosts in sales. If true, it could trigger viral crypto adoption across multiple industries. Which could further boost bitcoin's value over the near future.

Tesla accepting bitcoin payment for cars isn't likely to affect their business much. Their limited production numbers have historically lagged far behind demand. They're unable to build enough cars for everyone that wants to buy one. Other industries however have surplus wares they could see significant sales gains on via crypto payment adoption.

Another emerging trend could be services like itunes which do not offer crypto support losing marketshare to competing services which do.

I don't think I'll be shopping at Beatport anytime soon but this is a right step towards global adoption. Tesla and Microsoft are some of the biggest companies in the world and now more businesses are joining them in accepting bitcoin. Every once in a while we hear news like this and it is impressive how far bitcoin has come as a currency.

after tesla and paypal some big company now accepting bitcoin but with high fees we can really doing anything i think is good for those company to start accept altcoin as well or just start using Stable coin like USDT

Same here. I'm not even sure if I'd ever become one of Beatport's customers in my entire life, but news of Bitcoin's acceptance as payment sounds more interesting and exciting to me than news of rich companies and wealthy individuals accumulating and hoarding billions and billions of Bitcoin. The former is clearly what we all want more of, that Bitcoin is going to be accepted as a currency, and that it is an obvious step toward everyone's vision of a world where people could buy and sell stuff with Bitcoin anywhere.

Again, thanks to NFT's.
Business in art industry are opening up different option of payments now because of that. Bitcoin is the first choice to also have free advertisement in crypto news.  :D
We might see more of this kind of news where business owners are looking on how to connect with NFT then with how it's done.
It's not just social media which helped introduce Bitcoin now but the new way of selling their art is also helping. Indeed a good news.

Will I be able to use my Ownr crypto card to pay at this store? Or which crypto card can I use?

I remember buying some cheap beats from Beatport way back 2015 for a project that never came into fruition. I'm surprised that even with the rise of Soundcloud, YouTube, and other online stores for music they are still around and still doing business. IMO, they aren't really that big, but it's enough of an initiative to gain the attention of other similar online services to try and accept bitcoin. This may not be one of those integration that could really turn the tides, but at the least we gained one new service that accepts bitcoin as-is.

As for the NFT, I don't really care much about those things but apparently they are the thing that most people are eyeing right now.

It's really a pleasant thing, just like Tesla can buy it with bitcoin. I hope to see more and more news like this. :)

This shows that bitcoin is gradually accepted and recognized by everyone, and is gradually integrated into our life.

Good sign that adoption is a real thing and not just any imagined thing, people and companies recognizing the benefits and utility of bitcoin is pretty much an indicator that the market is ready for new heights and we will see more out of it because people and companies will continue adopting it to the point that everyone has already habe it.

Where have you been this past month? tesla no longer accepts bitcoin as payment. they retracted their decision regarding accepting bitcoin after "realizing" that bitcoin consumes so much energy and is concerned about the climate. but do and would like to see more stores/companies accepting bitcoin.

Tesla initially had a good impact on the development of bitcoin because it had adopted bitcoin as a means of payment to buy its products. But Tesla's decision to stop accepting Bitcoin was a decision that made Bitcoin slowly crash, but it doesn't affect him anymore for now.

Apart from tesla and the music store mentioned by the OP, maybe later there will be more adoption by other big companies. this is the best opportunity for bitcoin to grow and be increasingly recognized by the world.

This is an interesting piece of news for the crypto community. One of the major ways of passing information or promoting a content is through the media and music is a vital part of media.
I believe this will go a long way in promoting bitcoin among the masses because a lot of people would accept bitcoin just because of this. This means that it wouldn't be long before bitcoin becomes the number one currency in the world.

This is probably because this company sells its services online. Listed bitcoins from any country, get a musical composition. Everything is fast and without any problems with translations.

Good to know that some organisations (big organisations) still have faith on btc even though some undesirable elements are trying so hard to prove otherwise,
Am glad that in the midst of all this btc drama we can still receive positive news to boost the condition of the market, this community is stronger than a mare tweet.

^ I hope this news will not become worst in the future just like what happened to the Tesla company. There are big risks on those big institutional investors that adopted BTC or accepting BTC, because anytime when they like to sell as they want, it always has an impact on the market. It could be we consider them a whale that can someday manipulate the price, we have done used by Elon Musk so I hope in the next generation people will learn from those mistakes and avoid not happen again. Nevertheless, we still are thankful for this news, and probably our fears will not happen in the future.

Considering the daily volume Bitcoin has I wouldn't call Tesla a super whale. They bought for $1.5 billion and sold some. Deducting any profit they made, maybe they are still sitting on roughly 30,000 Bitcoin. They can't destroy the market in my opinion. That should be absorbed just fine.