There was recently a tweet about SFX and it announced how SFX was accepted into BoostVC in order to build a “Bitcoin Based BandCamp”. BoostVC is a Venture Capitalist startup accelerator in the Bay Area that helps Bitcoin companies by “providing housing, office space, mentors and an investment.”
In this BandCamp, you now have the ability to put up music you have created and be paid for this music in Bitcoin instantly.
SFX is essentially an alternative to SoundCloud, where users can upload audio clips and share with their friends and family. SFX had introduced Bitcoin tipping last December and with the acceptance of BoostVC, users now can now get paid in Bitcoin as well.
This is a great move for SFX and in the end helps foster creativity by removing the restrictions on costly entry costs that come with traditional selling methods of music. There are many reasons this is a good thing, and SFX could become the next iTunes but for Bitcoin.
One reason SFX’s tweet is great news for Bitcoin users is because it shows that Bitcoin is being accepted once again by another industry. With most companies accepting Bitcoin coming from the e-commerce or electronic industry, it is refreshing that this time it is from the music industry.
As more and more people realize that Bitcoins transaction speeds and unreversible transactions can benefit both the business and buyer, the more we will see Bitcoin used.
For musicians just starting out and want to share their music with others but don’t wish to share that music for free, SFX is a much better choice compared to the alternative route of listing your money on Itunes, for example, which has high costs compared to SFX.
Due note that if your music has not received a single view in over six months, they will remove your music from their website. SFX is a great place to hear new talent because anyone can upload a song or sound clip and sell it, allowing visitors to listen and pay for music that they enjoy.
Currently, SFX is in beta and with that being said there are going to be more features added to this website in the near future so be on the lookout.
When listening to music, people do not want to wait for their music. They want it now, which is why we have seen music streaming services such as Spotify and Beats Music becoming increasingly popular. Its time that the payment options were just as fast too.
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