Beatport, the global leader in electronic music for DJs and producers, has partnered with multi-chain network Polkadot to launch its electronic music-focused NFT marketplace.
The marketplace, dubbed Beatport.io, will serve as a platform for music artists and fans to connect through Web3.
By releasing digital collectibles, musicians will be able to generate a new revenue source as well as establish a better engagement with their fans and a wider community.
Artists might use NFTs as a means to reward holders by providing them with early access to supplementary features such as unreleased tracks, discounted tickets, and access to events and interactive experiences.
The NFTs will be distributed via Aventus, a Polkadot-based blockchain that is scalable, sustainable, and interoperable.
In addition to launching Beatport.io, Beatport and Polkadot will collaborate on the organization of 10 events over the following 18 months, with each event celebrating the debut of a new NFT collection.
With over 450,000 active DJs on the platform in 2019 and 45 million yearly visits in 2022, Beatport has long been a great platform for new (and established) DJs and producers to release their music. It is currently regarded as the site with the largest catalog of downloadable dance music and the go-to marketplace for DJs to buy tracks for their sets.
Beatport’s new NFT marketplace will enhance its mission of promoting artists and enable them to be supported by fans and the general public.