The social network ZapChain has announced its partnership with Coinbase, which will enable artists to sell their material for bitcoin. Talib Kweli will be the first recording artist to start this event by giving his fans the ability to purchase his latest album through the ZapChain service. Kweli will be the first of many artists to sell their work on the social website for bitcoin.
Talib Kweli is not only a chart-topping musician, but has also been a very vocal activist throughout his entire career. In his lyrics, you can often hear some of the harsh realities involved with the system of today. Kweli has been a civil rights activist his whole life, and has recently launched a crowdfunding campaign for community protests in Ferguson, Missouri. Kweli sees digital currencies like bitcoin as statements for global inclusion. ZapChain’s platform will give his fans all over the world the ability to access to his music using cryptocurrency. Kweli said in a statement:
“We believe in doing the music that we love and getting it to the people that love it, no matter where you are or who you are.”
Through ZapChain, the Brooklyn-based hip-hop artist will give his fans the opportunity to purchase some of his best selling records, including 2004’s A Beautiful Struggle and 2007’s Eardrum. Kweli’s latest album, titled Indie 500, featuring 9th Wonder, is available to the public today, November 6. Fans will have access to the album via ZapChain and can purchase it for USD $12, or roughly 30,000 bits. Individual tracks will be available as well for $1.29, or about 3,000 bits. When other music platforms sell content, they take substantial fees from the artists, and it can often take months for content creators to receive payments for sold material. With ZapChain and its partnership with Coinbase, Kweli will be paid in bitcoin instantly when someone buys an album or track.
Coinbase wants to offer natural Bitcoin access to everyone globally as well. As one of the leading U.S. cryptocurrency brokerages and exchanges, its current CEO thinks that ZapChain is an excellent platform to enable hard working individuals incentives for their work and digital portfolios. Coinbase CEO Brian Armstrong said:
“Bitcoin has the potential to turn online communities into online economies with micro-transactions that are real time and global (bitcoin’s sweet spot). Apps like ZapChain that are uniquely enabled by bitcoin have the potential to change the way people work together and make a living.”
Zapchain has created a new realm for the micro-tipping age and has become one of the fastest growing Bitcoin social networks out there today. With a micropayment solution, the company believes that discussions can become more focused, and artists and great minds can be rewarded through a collaborative system. So far it seems to be working, and the site has grown quite popular among the various social venues found throughout the web.
This event with Talib Kweli is just the beginning of many more artists to be featured on ZapChain’s service. Today also coincides with the release of ZapChain’s community platform that allows administrators and content creators a new system of reward for their hard work. The company has already created new communities in the virtual space these will be different. Instead of using upvotes and likes, great content will be rewarded through micro transactions. Every community will have the unique ability to operate with the digital currency, and those who wish to sign up for this community platform can do so here.
“I am excited about how the blockchain can easily make micropayments to journalists and other media producers without bank friction.”— Tim draper
Matt Schlicht, CEO of ZapChain, believes that micropayments can inspire new avenues for artists, illustrators, intellectuals and basically anyone who wants to monetize their online content. The company has raised $350,000 USD in venture capital funding from the Adam Draper, Tim Draper and the Boost Bitcoin Fund. Boost VC is a specialized seed-stage accelerator that is invested in 120 blockchain and crypto-related startups including ZapChain.
Tim Draper is excited about the platform saying: “I invested in ZapChain because the company is giving bitcoin one of its highest and best uses. I am excited about how the blockchain can easily make micropayments to journalists and other media producers without bank friction.” That is exactly what the creative social network aims to provide with its new community platform and offering recording artists the opportunity to get paid instantly. Bitcoin.com will keep our readers informed about upcoming artists and the development of ZapChain in general. So far it’s off to a good start!
What recording artists would you like to see accept Bitcoin? Let us know in the comments below!
Images courtesy of Wiki Commons, Pixbay, and ZapChain