OneRepublic ‘first major US act to accept Bitcoin for gig’
OneRepublic has become the first major-label US act to accept the cryptocurrency Bitcoin as full payment for a concert, according to the band’s reps.
The payment was for an intimate acoustic show at historical venue, Haydn Hall, outside of Vienna, Austria, on 16 November.
The Grammy award-winning band used peer-to-peer Bitcoin payment app, Strike, to accept payment for the gig, which is said to have sold out in a matter of minutes.
“My band and I are so happy to be a part of something that we believe is, without question, the future of how payments are transacted for unlimited amounts of assets, performances, services, purchases, music, etc. around the world,” says OneRepublic singer Ryan Tedder, whose interest in the NFT space is well documented.
“Without question, [this is] the future of how payments are transacted for unlimited amounts of assets around the world”
“Whether it’s artists using NFTs to fund albums with their fans or bands being paid for concerts in crypto, music & tech go hand in hand. With that in mind, it only made sense for us to take the next logical step. I also have an upcoming private concert in December I’m planning on taking Bitcoin for.”
The live music industry is increasingly adopting cryptocurrency for varying purposes. Recently, it was announced that AEG’s Staples Center in Los Angeles is to be renamed the Crypto.com Arena as part of a new 20-year naming rights deal.
Elsewhere, Universal Music Group has formed an ‘NFT supergroup’ made entirely out of digital apes, which will perform across and participate in video games, virtual-reality apps and the metaverse.
Live Nation is also capitalising on the trend by collaborating with artists to launch digital collectable NFT ticket stubs.
Kings of Leon, Grimes, Shawn Mendes, Steve Aoki, Quavo, Lil Baby, 2 Chainz, Jack Harlow, Tory Lanez, Linkin Park’s Mike Shinoda, 3lau, Ozuna are among the artists who have released collections of NFTs.
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