Cryptograffiti believes that’s Bitcoin’s ability to create new revenue streams “will rebalance power in all sorts of industries.”
Bitcoin activist artist Cryptograffiti has launched a new micropayment plugin designed to generate new cryptocurrency revenue streams for DJs and music producers.
The announcement came with an accompanying live DJ set by Cryptograffiti that was performed at San Francisco’s US Mint, where the artist publicly demonstrated the new revenue sharing system.
“The event entitled ‘Strikes Twice’ is named after the new plugin’s ability to automatically split micropayments into separate addresses,” Cryptograffiti said in announcement shared with Bitcoin Magazine. “If live stream viewers enjoy one of the tracks played during the event, they can send bitcoin tips to a static QR code that splits the payment based on the track being played at the time with a fixed percentage going to both the DJ as well as the producer of the track.”
Cryptograffiti’s new system works in a similar fashion to the Twitch concept of “cheering,” which allows users to send monetary tips directly to the streamer. The difference is that his plugin is entirely cryptocurrency-based and will benefit artists and DJs who have their music played at live events.
“People focus on banks, but Bitcoin’s enabling of new revenue streams will rebalance power in all sorts of industries,” Cryptograffiti said. “The digital economy is broken for musicians who line the pockets of third-party platforms while having to heed arbitrary rules enforced by bots. We need to look at different models that better support artists.”
The project was also paired with an NFT release of the visuals used during Cryptograffiti’s performance at the US Mint, which are slated to be sold on a forthcoming Bitcoin sidechain marketplace.