Music artists getting paid in crypto

[Abiky]

If crypto is practically mainstream, how come there aren't any popular music artists (Taylor Swift, Kid Rock, etc.) accepting crypto for donations? Or music streaming platforms accepting crypto payments? Using crypto for music would be a big deal. Putting aside volatility issues, of course. Because if that's the main reason why many are avoiding crypto, payment processors these days can convert crypto to Fiat "on the fly".

Do you think popular music artists or streaming platforms will adopt crypto soon? If not, why? What's the major "obstacle"?

Your input would be greatly appreciated. Thanks.

[JeffBrad12]

In the US youtube is allowing PYUSD payout for any youtube creator including musician : https://bitbo.io/news/youtube-crypto-payouts-pyusd/.

Technically the music artists are getting paid in crypto and its already happening to limited region like in the US. The adoption is already here.

[passwordnow]

Do you think popular music artists or streaming platforms will adopt crypto soon? If not, why? What's the major "obstacle"?

Your input would be greatly appreciated. Thanks.

I think that they'd do, and AFAIK, there's one artist that got paid with Bitcoin for his album and that's a lot of album. I can't remember if that was 50cent. It's said that he's received 700 bitcoin on 2014. If he hasn't sold any of it for the past decade then that surely have grown so much. And that's why with his success recipient of that deal, made him a lot of money which could inspire other music artists to accept the same offer if someone offers them with that kind of deal.

[Stalker22]

Im afraid the primary issue is utility.  For mainstream musicians, using crypto to receive payment for their music solves a problem that they dont have at the moment.  Mainly, they currently have access to receiving stable and usable cash payments for their music, and until cryptocurrency can provide musicians with another means to generate revenue or access to a fan base they do not have access to now, artists will not accept these payments.

The “obstacle” with artists using crypto to receive payment is not technological (as you pointed out, BitPay and many other processors exist) - the issue instead is strictly related to that risk to reward ratio.  An A-list artist would only see a minute amount of additional revenue, since they would receive funds from a limited, niche portion of their market, while also creating a huge amount of risk for themselves related to the legal implications of accepting bitcoin, the endless number of hours to create a proper accounting process for every one of the thousands of micro-donations, and the potential of being associated with the illegal activit should they accidentally receive an illegal crypto currency payment from a "dirty wallet."

[Abiky]

In the US youtube is allowing PYUSD payout for any youtube creator including musician : https://bitbo.io/news/youtube-crypto-payouts-pyusd/.

Technically the music artists are getting paid in crypto and its already happening to limited region like in the US. The adoption is already here.

That's just a traditional stablecoin. Not any different from Fiat. I'm talking about cryptos such as Bitcoin and Ethereum. Like a platform or service where any musician can just accept donations or sell their music in exchange for crypto. It can be either centralized or decentralized. Would you imagine popular artists accepting crypto? It would surely boost mainstream adoption. Especially if it goes "public" (spread by mainstream media).

Stablecoins, although more practical than crypto, are utterly-centralized. Based on their design, it's likely musicians and/or artists need to comply with KYC to begin accepting payments. With crypto, that's not the case. Of course, that depends on the platform serving as the payment gateway. So far, there are no recognized music artists getting paid in crypto. This might change in the future, though. We'll see what happens...

[bitbollo]

There are many different options for getting paid in crypto and even old coins launched in 2017-2020 for this kind of activity.
All failed miserably.
Unless they are artists not already linked with big labels they would never care to get paid in crypto.
In general I would see as a very few really interested to spend directly crypto (or even artist just doesn't really care).

50cent has been the best on this field (at least on public) / I would mention Aphex Twin as probably bitcoin lover too.

In italy there was an entire song that has been registered inside blockchain/ordinal by a musician
https://medium.com/@violettazironimusic/how-i-inscribed-a-full-length-song-on-btc-ordinals-10-years-to-eternity-dc4af4475e57

[Alonso_]

In the US youtube is allowing PYUSD payout for any youtube creator including musician : https://bitbo.io/news/youtube-crypto-payouts-pyusd/.

Technically the music artists are getting paid in crypto and its already happening to limited region like in the US. The adoption is already here.

I think it’s a good development, because I know that the adoption of musicians being paid im cryptocurrency is a good development for people who are profiting from it.

I think soon we would have a situation where majority of the internet remote workers would probably be paid through cryptocurrency.

Like what you have mentioned, there are people who are paid through cryptocurrency in the YouTube and it’s basically for US citizens, I would like a condition it’s also extended to Europe, Africa and Asia..

[dansus021]

I do believe that artists would be fine if they get paid in the form of stablecoin, Oh oh world tour should be paid in stablecoin or other form cryptocurrency I mean service like VPS, VPN and other now started accept crypto as payment even tho not by default but with this could open new community in my opinion.

Donation in any kind, should accept crypto aswell since people donate could be in any form not just fiat.

[Abiky]

There are many different options for getting paid in crypto and even old coins launched in 2017-2020 for this kind of activity.
All failed miserably.
Unless they are artists not already linked with big labels they would never care to get paid in crypto.
In general I would see as a very few really interested to spend directly crypto (or even artist just doesn't really care).

50cent has been the best on this field (at least on public) / I would mention Aphex Twin as probably bitcoin lover too.

In italy there was an entire song that has been registered inside blockchain/ordinal by a musician
https://medium.com/@violettazironimusic/how-i-inscribed-a-full-length-song-on-btc-ordinals-10-years-to-eternity-dc4af4475e57

That's the thing. There are many crypto projects with innovative ideas, but they fail due to poor execution/planning. The mainstream world is not ready yet to use crypto massively as an alternative to Fiat for day-to-day payments. Everybody is focused on crypto as a means to build wealth. Which is why, Fiat is still considered "King" when it comes to payments, charities, and/or donations of any kind.

Honestly, a popular artist such as 50cent endorsing Bitcoin should be more than enough to help boost its adoption worldwide. While prices are rising, this is only the result of increased institutional demand. There are a lot of retail investors who aren't in the "game" yet. It could be either scaling or volatility issues. Same goes for altcoins. This is still the beginning, so I'm hopeful things will improve in the future.

[Dunamisx]

If crypto is practically mainstream, how come there aren't any popular music artists (Taylor Swift, Kid Rock, etc.) accepting crypto for donations? Or music streaming platforms accepting crypto payments? Using crypto for music would be a big deal. Putting aside volatility issues, of course. Because if that's the main reason why many are avoiding crypto, payment processors these days can convert crypto to Fiat "on the fly".

Do you think popular music artists or streaming platforms will adopt crypto soon? If not, why? What's the major "obstacle"?

Your input would be greatly appreciated. Thanks.

Maybe we should take it one step at a time because we are also getting there soon, even though I want to believe that some have already been accepting in this manner, but it may seem not to be popular or commonly heard as expected, but the time is coming when the whole crypto industry will turn to be a major mainstream to payment and acceptance for any form of transaction, we shouldn't limit such to the music industry alone, but including fashion, health and political structures will all accept crypto without a second thought when we get there.