Cryptograffiti, a Bitcoin activist, has released a new micropayment plugin aimed at providing new cryptocurrency revenue streams for DJs and music producers.
Cryptograffiti performed a live DJ set at San Francisco's US Mint to accompany the launch, in which the artist publicly demonstrated the new revenue sharing scheme.
Cryptograffiti's new system works similarly to Twitch's "cheering" feature, which allows users to submit monetary tips directly to streamers. His plugin, on the other hand, is completely cryptocurrency-based and will support artists and DJs whose music is performed at live events.
Cryptograffiti said “People focus on banks, but Bitcoin’s enabling of new revenue streams will rebalance power in all sorts of industries,”. The digital economy is broken for artists, who must abide by arbitrary rules imposed by bots thus lining the pockets of third-party platforms. We need to investigate various models that would best serve artists.”
The project also included an NFT release of the visuals used during Cryptograffiti's appearance at the US Mint, which will be sold on a Bitcoin sidechain marketplace in the near future.