A first: Label pays artist $1 million in Bitcoin

Independent US label, distributor, and publisher EMPIRE has paid a $1 million advance entirely in Bitcoin to Atlanta-based artist and cryptocurrency investor Money Man ahead of the release of his new album 'Blockchain', which is out on Friday. EMPIRE says its payment to Money Man marks the first advance paid entirely in Bitcoin to an artist, by a record label. The transaction was made via mobile payments platform Cash App, which also recently launched Cash App Studios, an initiative aimed at funding artists’ projects. Music Business Worldwide has the whole story.