EMBARGOED 10TH FEBRUARY 2014
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Bitcoin, the virtual currency launched in 2009, is taking a step towards the mainstream and being embraced by creatives as it begins to make its mark on the music industry.
Hitting international headlines last November for the unveiling of the first ever Bitcoin ATM machine in Vancouver, Canada, the currency is now at the centre of Australian Bitcoin ATM’s latest announcement: an intention to roll out 100 machines across the country over the coming months, facilitating the conversion of Bitcoin to physical currency and vice versa.
Former Spice Girl, Mel B made history back in December by officially becoming the first artist to start accepting Bitcoins, which makes it easy to send secure payments over the internet by transferring money directly between two parties with almost zero fees. Hip-hopper Snoop Dogg followed hotly on her heels, and now Childish Gambino has jumped on the bandwagon too. Meanwhile, Lily Allen has voiced her regret at turning down an online gig for the virtual currency, which, while only the equivalent of a small sum at the time, would be worth millions today.
Equally, while Kanye West may not be singing Bitcoin’s praises, having recently borne the brunt for the campaign of a non-affiliated cryptocurrency called ‘Coinye West’, the company is making positive headway despite its relative infancy.
And musicians aren’t the only ones testing out the waters. Now, innovative digital download store Digital Tunes are embracing technological advancements with an exciting website re-launch including tightly integrated bitcoin payments.
Founded in 2006 by DJ Glenn Grip and software engineer William Coates, the entrepreneurial duo have spent almost a decade building a reputation as the go-to store for professional DJs to find the highest quality downloads. Boasting an impressive database of underground electronic music, ranging from Dubstep and Drum & Bass to UK Funky and Garage, the store offers a unique policy of providing a single price for every download format, be it WAV, FLAC or MP3.
Not only is the re-launch designed to cater for the increasingly tech-savvy generation of web visitors by looking striking on desktop browsers, mobiles and tablets - it’s also set to embrace the vinyl revival. Records have been making an unprecedented return of late, with purists singing the format’s praises as a superior listening vessel for albums both old and new. Bands like The Arctic Monkeys and Daft Punk have clearly contributed to the comeback with the 2013 releases of their 12” LPs, helping vinyl sales more than double in the past 12 months and reach their highest peak in a decade.
The revamped Digital Tunes site will appeal to advocates of this record renaissance by boasting a new digital browsing experience which closely emulates the much-loved feeling of flipping through vinyls at your local store. Cover art will eschew the generic tiny thumbnail look and instead be boldly on display, thereby catering for the store’s eclectic user base and providing a comprehensive, beautifully re-engineered shopping experience with something for everyone to enjoy.
“I'm really happy with our experience accepting Bitcoin. It can be super simple to set up, and the low transaction fees and zero fraud risk make Bitcoin an attractive option. The truth is Bitcoiners aren't just nerds who want to buy drugs online: it's a vibrant international community of consumers that is growing
day by day.”
By increasing the accessibility of their site through innovative technologies and payment systems, as well as their uncompromising dedication to quality sound, Digital Tunes are proving they’re truly on top of the game.