The deal, worth some USD 297 million, will allow artist-partners to keep their ownership in the music company.
Such offerings could take advantage of emerging technologies such as blockchain and cryptocurrencies. Among the blockchain systems that Square and Tidal could help popularise are digital files known as non-fungible tokens (NFT) that serve as digital signatures to certify who owns photos, videos, and other online media.
Square did not disclose the percentage of its ownership via the cash and stock deal.
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