Artists can choose to be paid in US dollars in full, partly in US dollars, or in the cryptocurrency of their choosing, through Coinbase's payroll product, UnitedMasters said, adding that artists "can now take part in a more equitable, decentralized and transparent economic system."
"We want to make it easy for every company to pay employees in crypto. This is the future of payroll," said Coinbase Chief Product Officer Surojit Chatterjee. Volatility is the key issue for artists to think about. At the time of writing, $1k is worth 0.000018 bitcoin, but in mid-July, it was worth 0.000034 bitcoin. If an artist had chosen to be paid their royalties in bitcoin then and held on to the cryptocurrency, they’d be worth 47% less now...! Via Business Insider