EMPIRE to Offer First Artist Advance in Bitcoin With Money Man
This new advance payment system is one option that EMPIRE says will be part of a new way to “innovate financial tools” for those artists it works with. “Money Man is a progressive thinker and has his thumb on the crypto pulse,” EMPIRE founder/CEO Ghazi told Billboard. “It felt organic to start with him as our first-ever artist to receive an EMPIRE advance in BTC as we begin to innovate financial tools for our partners.”
Ghazi and Money Man have also been on the forefront of this trend of late, even appearing on a panel together in June called, appropriately, “Pay Me In Bitcoin” at the Bitcoin 2021 conference alongside NFL players Russell Okung and Sean Culkin and Zap Solutions founder Jack Mallers.
This announcement follows a growing trend of music companies announcing they will either accept Bitcoin as payment, as Beatport recently has, or pay royalties in Bitcoin, as Prescription Songs just did. In a related vein, several producers and artists have announced their own cryptocurrencies in recent years, while the NFT craze has shined a brighter light on the space.