More artists accepting cryptocurrencies as payment for albums

2018-01-29 21:00 - Kyle Venktess, Fin24
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Johannesburg - US rapper 50 Cent recently became a Bitcoin millionaire, after he allowed people to buy his album with bitcoin and left it unused, in an age where more artist are allowing fans to buy music with cryptocurrencies.

Icelandic singer, Bjork also welcomed fans to purchase her album with cryptocurrencies including litecoin, dash, and AudioCoin. 

According to its website, AudioCoin was created to encourage fair share venue and transparency within the global music industry. 

For now the fully decentralised cryptocurrency is ranked 518, with a market cap of $9.7m and currently costs 14 South African cents for one AudioCoin according to cryptocurrency listing website, Coin Market Cap

According to cryptocurrency blog CoinDesk, a list of over 40 musicians including Mariah Carey, Marilyn Manson, Slayer, Weezer, G-Eazy, Sia and Fallout Boy are part of an initiative to sell merchandise and albums using monero.

Monero was one of the top performing cryptocurrencies of 2017 and currently has a market cap of $4.9bn with one unit costing $319.22, ranking it as the 13th biggest cryptocurrency in the world. 

For content creators, numerous websites are now available which allow for users to stream videos or audio to an audience.

Platforms like CoinDL and BitTunes allow users to upload, download and stream content - content creators and users are able to pay and be paid using various cryptocurrency. 

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