Legacy Records, first record label to pay music artists with cryptocurrency

NFTs are units of data that are stored on a digital ledger called blockchain. Unlike cryptocurrency, NFTs are not mutually interchangeable.

The label plans, along with its artists, to release NFTs tied to additional benefits for investors, among other things yet to be released. The use of NFTs will change the power structure and profitability of the music industry. In short, Legacy plans to evolve the industry as we know it.

Yes, transactions using NFTs allow the public to participate in auctions for unique content from the artists they love. Keishia McLeodCEO of Legacy Records, explained in a recent interview:

“I see 2 choices here, either get involved or be left behind. What we are working on will enable many other revenue streams for artists for real wealth. I love seeing how those inside and outside the industry are creatively integrating the use of NFTs. I mean, it’s no secret that NFTs alone have already brought artists millions: but when it comes to cryptocurrency and its potential as a whole, we knew this day would come and we prepare to go further. I don’t think any company can afford to be complacent about the future. It’s a really exciting time for us [the world] at present. It’s the future, not a trend.”

Currently, these tokens and the transactions that involve them hold the artists who sell them accountable.

Equally eager, a major music distributor, has joined Legacy Records and is just as ready to pay artists in Bitcoin.

Plus, Entertainment Advocate Navarro W. Grayof from New Jersey ‘The Gray Firm’, merged with Legacy and noted that “Legacy Records is the first record label in history to offer its artists the option of receiving their advance and royalty payments in cryptocurrency. It doesn’t There hasn’t been such a change in the music industry as this since digital distribution and streaming.” Gray has been a big part of the record label’s success thus far.

The prominent lawyer explained his enthusiasm in “I am happy to be such a complex part of the machine that will be at the forefront of this digital path”, and praised Legacy for their efforts and dedication throughout. of the grounding process.

Caroline Boroden is also excited about the future of the company. She owns Synchronicity Market Timing, LLC and Fibonaccian on Twitter. Boroden is a technical market analyst and educator using Fibonacci time and price parameters as her methodology. She also runs a live daytime trading room at elliottwavetrader.net and writes for Jim Cramer on his real money website, realmoney.thestreet.com. She added in a recent interview, “I love that Legacy is involved in cryptocurrency payments,” Boroden said. Uber driver asks for it for his grandma, I think the time is right.”

Legacy is in the long term crypto space. The rise of cryptocurrency caused this innovative label to take on everyday names and change the industry as it was known. Legacy will indefinitely be recognized as the first label to pay in Bitcoin, and their level of excellence is not to be taken into account.

SOURCE Phantom Consulting

Related links