UnitedMasters partners with Coinbase to let artists get paid in cryptocurrency

UnitedMasters partners with Coinbase to let artists get paid in cryptocurrency


UnitedMasters has struck a brand new partnership with cryptocurrency platform Coinbase to give indie artists the power to be paid in crypto by Coinbase’s new payroll product.

The announcement at the moment (October 12) follows UnitedMasters’ information from August about different new finance instruments for indie artists, one in every of which, launched in partnership with beatBread, permits the distributor to supply qualifying artists advances starting from $1,000 to $1 million.

UnitedMasters additionally inked a finance-related partnership with Paperchain, which makes use of algorithms to predict an artist’s royalty earnings primarily based on their newest streaming information.

Artists utilizing UnitedMasters can now select to be paid in US Dollars or in a cryptocurrency of their selection.

The artists may use Coinbase’s full set of product choices — together with spending, incomes, buying and selling and borrowing.

UnitedMasters says that the aim 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”.

Speaking to CNBC, UnitedMasters Founder and CEO Steve Stoute defined the choice to begin providing payouts in crypto, stating that “payment optionality has been a big thing in this creator economy, and now [artists] are asking to be paid in crypto”.

CNBC additionally experiences that UnitedMasters now has 1.2 million artists on its platform, that over 1 billion streams are being generated by these artists per 30 days, and that 59% of artists on the platform are below 25.

In March, UnitedMasters introduced the increase of a $50 million funding spherical, led by Apple and with further financing from Alphabet and Andreessen Horowitz.

The information marked one other important monetary milestone for New York-headquartered UnitedMasters, following the corporate’s $70m funding spherical led by Google/Alphabet in 2017.

Meanwhile, Coinbase additionally revealed in a weblog publish at the moment that it plans to launch its personal NFT platform, Coinbase NFT.

“As the financial sector continues to evolve and innovate, we’re committed to putting our artists in the best position to benefit from these changes.”

Steve Stoute, UnitedMasters 

UnitedMasters Founder and CEO Steve Stoute stated: “Working with Coinbase to give independent artists the ability to be paid in crypto is a natural next step for us, using technology to ensure that the economics of the music business favor the creators behind it.

“As the financial sector continues to evolve and innovate, we’re committed to putting our artists in the best position to benefit from these changes.”

“We want to make it easy for every company to pay employees in crypto. This is the future of payroll.”

Surojit Chatterjee, Coinbase

Surojit Chatterjee, Chief Product Officer of Coinbase added: “Coinbase’s mission is to increase economic freedom in the world, and we applaud UnitedMasters efforts to level the playing field for their community of musical artists.

“We want to make it easy for every company to pay employees in crypto. This is the future of payroll.”


UnitedMasters, which has labored with the likes of NLE Choppa, Lil Tecca, Tobe Nwigwe, Lil XXEL, and lots of others, launched a brand new subscription tier in July final yr known as Select, that permits acts to hold 100% of their royalties from digital companies.

In August 2020, TikTok inked a deal with UnitedMasters for a full integration between each companies straight by the TikTok app.Music Business Worldwide

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