UnitedMasters partners with Coinbase to let musicians receive pay in cryptocurrency

UnitedMasters partners with Coinbase to let musicians receive pay in cryptocurrency

BUSINESS | ENTERTAINMENT | OCT 13, 2021 | WOZINGA NEWS

UnitedMasters partners with Coinbase to let musicians receive pay in cryptocurrency

  • UnitedMasters will now give artists the option to pay in the cryptocurrency of their choice.
  • Coinbase has partnered with UnitedMasters to provide the service.
  • UnitedMasters has previously received backing from Apple and Alphabet, the parent company of Google.

By Elah Mae Ariate Wozinga Staff

UnitedMasters partners with Coinbase to let musicians receive pay in cryptocurrency

Coinbase and UnitedMasters, a music distributor, have partnered to pay artists in cryptocurrency for their work. The companies announced on Tuesday.

Artists may select full paid in US dollars, partially in US dollars, or the cryptocurrency of their choice via Coinbase.

“The future of payroll”

In a press release, UnitedMasters added that artists “can now participate in a more equitable, decentralized, and also transparent economic system.”

“We want to make it simple for any business to pay their employees in cryptocurrency.” “This is the future of payroll,” said Surojit Chatterjee, Coinbase’s Chief Product Officer.

In fact, Coinbase began allowing customers to deposit paychecks directly into their cryptocurrency trade narrative last month.

UnitedMasters backed by Apple, Alphabet and Google’s parent company

According to Bloomberg, UnitedMasters is likely one of the first companies in the music industry to offer this option.

The company, which assists independent artists in distributing their music to fans, was founded in 2017.  Its founder, Steve Stoute, has since received backing from Apple, Alphabet, Google’s parent company, and Andreessen Horowitz. Insiders had previously reported.

UnitedMasters is currently collaborating with companies. These include Apple, Bose, AT&T, the NBA, and the NFL to get artists noticed.

The firm has assisted musicians such as rapper NLE Choppa, Lil Tecca, and others in launching their careers. In addition, according to TechCrunch, UnitedMusicians will have over 400,000 artists by 2020.

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