Meanwhile, Block’s lead financial service Cash App also has plenty of potential for use by artists. In a recent live-streamed discussion, Jay-Z (Shawn Carter) and Twitter and Square CEO Jack Dorsey opened up about the possibility of adding NFTs to music streaming service Tidal, per Coinbase. I tweeted that the primary value-add was data. Music streaming is a low-margin business, and Tidal is far behind its competitors. In that chat with Jay-Z, Dorsey cited “data, information, analytics” as some of the areas he sees room for improvement in the music ecosystem. TIDAL is the first global music streaming service with high fidelity sound, hi-def video quality, along with expertly curated playlists and original content. According to Bloomberg, Square CEO Jack Dorsey wants to add more complementary business lines to a group that includes Seller and Cash App. However, this looks set to be about more than Tidal’s ambitions to introduce user-centric payouts. On Fr. Block, which recently rebranded from its previous name of Square, has already launched ‘direct-to-artist payments’ on Tidal, routing a percentage of its HiFi Plus tier’s subscribers’ payments directly to the artists they listen to most. Square, a financial services company co-founded by now-former Twitter CEO Jack Dorsey, is changing its name to Block, the company announced Wednesday. 27 likes, 0 comments - PPP TV (ppptv) on Instagram: 'JAY-Z has reportedly added even more wealth to his net worth after closing the TIDAL deal. Not a huge surprise: Dorsey voiced similar views in a chat with Jay-Z last June. “We acquired Tidal because we saw that artists take a path similar to small businesses, and that there’s a significant gap in the market around artist tools.” Mar 4, 2021, 5:24 AM PST Twitter CEO Jack Dorsey REUTERS/Anushree Fadnav Square is buying a majority stake in Tidal, Jay-Z's music streaming platform, for nearly 300 million. “This will be a massive economy in the future, and we see an opportunity to be a big part of it, all using the tools and platform we’ve already built,” Dorsey told investors. Just what is former Twitter CEO Jack Dorsey’s fintech firm Block up to with Tidal? Having bought the music streaming service last year, Dorsey offered some thoughts at Block’s investor day yesterday, with CNBC reporting his view that it’s a wider bet on the creator economy. In his telling, the partnership between Jack Dorsey and Jay-Z is likely a larger move to upend financial mechanism controlling the music industry and to make Square, Cash App, Tidal and.
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