Beatport Chooses Aventus to Put Artists Back in Control with Web3 Electronic Music Platform
The Beatport is the preeminent store for electronic music DJs, producers and fans. the Beatport group has been at the center of DJ culture for almost two decades. Since its founding in 2004, its mission has been to provide world-class products and services that help DJs and producers elevate their craft at all stages of their careers. Its indefinite pursuit of innovation and inspiration helps to lead the category and define the progression of DJ culture worldwide. It has offices in Los Angeles, Denver, Berlin, London and Brighton.
Beatport was looking to embrace the community and loyalty-related benefits of web3 to usher in a new era for the electronic music space and put artists and creators back in control.
Aventus designed and built beatport.io, an NFT marketplace and community where:
- Artists can mint NFTs
- Fans will be able to buy, sell and trade NFTs
- Creators have the option to include unlockable, redeemable digital and physical experiences in their NFTs,
- Users can pay in both fiat and crypto
The marketplace will enable members of Beatport’s vibrant community of creators to engage their fans more directly and generate additional revenue. It also gives fans a voice in the content their favorite artists produce and an opportunity to own a piece of music history.
While, traditionally, the music industry has a reputation of artists losing a significant proportion of revenue and creative control to large record labels, beatport.io puts artists back in the driving seat. It marks a significant milestone in giving music industry members a direct line of connectivity with their fans, increased control and creativity in the content they produce, and a broader and more engaged fanbase.
Built on Aventus technology, beatport.io benefits from enhanced scalability, speed, interoperability and security.
The marketplace enables creators to mint NFTs, including unlockable digital and physical experiences, and users to buy, sell and trade NFTs using either fiat or crypto payments. In addition, Aventus and Beatport have developed a roadmap for future marketplace extension, including members-only areas, rewards systems and other features.
Ed Hill, SVP of Beatport’s media group, said: “The electronic music community has always been at the forefront of cultural shifts, and their early embrace of web3 and all the promise it offers is no different, creating unique and powerful new ways to celebrate electronic music by connecting fans with their favorite artists.”