UnitedMasters to Pay Artists in Cryptocurrency, Partners with Coinbase

UnitedMasters has struck a new partnership with cryptocurrency platform Coinbase to give indie artists the ability to be paid in crypto through Coinbase’s new payroll product. The announcement follows UnitedMasters’ news from August about other new finance tools for indie artists, one of which, launched in partnership with beatBread, enables the distributor to offer qualifying artists advances ranging from $1,000 to $1 million.

UnitedMasters says that the goal is “to create more financial opportunities, equity and transparency to the dedicated, rising musicians utilizing our platform and to level the playing field so that they can stay independent and in control of their respective futures”.

Artists using UnitedMasters can now choose to be paid in US Dollars or in a cryptocurrency of their choice. The artists can also use Coinbase’s full set of product offerings — including spending, earning, trading and borrowing.

According to reports, UnitedMasters now has 1.2 million artists on its platform, that generate over 1 billion streams per month. In March, the company announced the raise of a $50 million funding round, led by Apple and with additional financing from Alphabet and Andreessen Horowitz.

HEADER IMAGE from United Masters