certify
Home arrow Article arrow Article Detail

Legacy Records becomes the first Record Company to pay its artists with bitcoin

Profile Image

Shivangi Mujumdar Follow

INDIA

May, 20 2021

May, 20 2021

likes | comments 0

Article Image

Legacy Records has carried the crypto world into the music industry. It has become the first recognized record label to pay its artists with Bitcoin. Legacy took place on 17-May-21. Later by bringing non-fungible tokens (NFTs) into the show.


NFTs are parts of data that are kept on a digital ledger named a blockchain. Unlike cryptocurrency, NFTs are not commonly interchangeable. The label plans to, along with its artists, issue NFTs tied to extra perks for investors, amongst other things yet to issue. Utilizing NFTs will change the power building and profitability of the music industry. Now the transactions using NFTs permit audiences to contribute in auctions for unique content from the artists they love.


Keishia McLeod, CEO of Legacy Records, clarified in a current interview:

"I see 2 choices here, either get involved or get left behind. What we're working on will allow many other income streams for artists for real wealth. I love seeing the way those, in and out of the industry, are creatively incorporating the use of NFT's. I mean, it's no secret NFT's alone have earned millions for artists already: but as for cryptocurrency and its potential as a whole, we knew this day would come and we've been preparing to take it a step further. I don't think any business can afford to remain complacent in regards to the future. It's a really exciting time for us [the world] right now. This is the future, not a trend."

Presently, these tokens and the transactions that comprise them authorize the artists who sell them. Just as keen, a major music distributor, has jumped on board with Legacy Records and is just as prepared to pay out artists in Bitcoin.

Legacy is in the crypto universe for the long run. The growth of cryptocurrency has this pioneering label taking names on the daily and shifting the industry as it's been known. Legacy will forever be familiar as the first record label to pay out in Bitcoin. Along with their standard of brilliance is not to be reckoned with.


likes | comments 0

Profile Image

Shivangi Mujumdar

CBW - External Analyst

INDIA

Comments
Data Centre Construction - World First artificial intelligence AI-Tech Utility Token
banner
Article
NYDFS Releases Guidelines for Safeguarding Crypto Investors Funds

On Monday, the New York State Department of Financial Services (NYDFS) issued crucial regulatory guidance for all crypto companies operating in the state, mandating them to strictly separate customer.;

Disclaimer: The information is for informational purposes only.​ This advertisement does not constitute financial advice or any other advice. You should consult with a financial professional to determine what may be best for your individual needs. None of the information and/or content available through this advertisement is intended as an offer or solicitation of an offer to buy or sell, or as a recommendation, endorsement, or sponsorship of any company, financial product, security or commodity. To the maximum extent permitted by law, we disclaim any and all liability in the event any information, commentary, analysis, opinions, advice and/or recommendations prove to be inaccurate, incomplete or unreliable or result in any investment or other losses. In Making the investment decision, investors must rely on their own examination of the issuer and the terms of the offerings, including the merits and risks involved. Investments are speculative, illiquid, and involve a high degree of risk , including the possible loss of investment.