Jay-Z is all for financial freedom. Since coming into the game, he’s been a strong advocate of empowering rappers to strive for generational wealth. Hov understands the importance of financial literacy, and now he will teach others.
Jay-Z and former Twitter CEO Jack Dorsey teamed up to announce the launch of Bitcoin Academy on Thursday. The Bitcoin Academy is a free financial education program for Marcy Houses residents. The same project houses where Jay-Z grew up.
Shout out to @Jack. #Bitcoin Academy, starting in Marcy, a place that taught me so much, is hopefully the first of many. The simple goal is to provide people tools to build independence for themselves and then the community around them. https://t.co/4uHkCfdFZv
Dorsey spoke on the purpose of the Bitcoin Academy and how it will improve the community’s economy in the future.
The courses will be from June to September and will be offered both in-person and online. The Bitcoin Academy website says the program could be expanded to other neighborhoods in the future.
Education is where we start. This isn’t just about bitcoin…it’s about long-term thinking, local economies, and self-confidence. Courses are free to all Marcy residents, including kids. And to make it even easier we’re providing devices and data plans for all who need it.
Dorsey and Jay-Z are also long-time business partners. In early 2021, Dorsey agreed to pay $300 million for Tidal, the music streaming service owned by the rapper. In return, Jay-Z got a seat on Block’s board of directors as part of the deal.
Jay-Z, who became hip-hop’s first legit billionaire after making a decade’s worth of shrewd business decisions, has long advocated for financial literacy as a pathway out of the impoverished situations he grew up in. This week, he went a step further, offering a financial literacy program for residents of the Marcy Houses, the public housing complex where he grew up in Brooklyn, New York. The Bitcoin Academy, which Jay launched in partnership with frequent business partner Jack Dorsey, former Twitter CEO and the founder of Block, which includes Square, will offer classes to Marcy Residents both online and in person.
Those classes will not only include lessons like “What is Money?,” “What Is Cryptocurrency?,” “What is Blockchain?” and “How to Keep Yourself Safe from Scammers,” but they will also have dinners served at each class, with attendees receiving smartphones with data plans to help with the lessons. In a statement, Jay’s mom, Gloria Carter, said:
“The Shawn Carter Foundation has always been about providing educational access and opening doors of opportunity to underserved communities. No one should be left out or behind. We truly appreciate the partnership with Block and Jack Dorsey to bring financial, specifically bitcoin education to the Marcy residents, where I spent many years raising my family. Everyone should be empowered to make informed financial decisions in order to take care of themselves and their families”
Every now and then, the age-old debate on whether to have dinner with Jay-Z or take $500,000 trends on social media. Fans provide arguments for both sides of the spectrum. Some argue that a conversation during a dinner with Hov will catapult them to insurmountable heights, while others look to cash-out on-demand.
Well last September, TIDAL’s Twitter account finally put the debate to rest with the now viral response “Take the $500K,” tweeted from the thumbs of social media manager, Melanie Mercedes.
The New York University alumna has held the role of managing all social platforms for TIDAL. Now her role has evolved to community manager of social which she describes is a role that goes far beyond solely publishing on social media.
Melanie Mercedes
“The magic in social is being able to identify your audience and speak to them directly. When they feel seen and heard, they’re much more likely to engage in a meaningful way.”
Humanizing the brand is pivotal to keeping the audience engaged. While social media controls the direct-to-consumer voice for the platform, Alexa Disney connects the DSP and collaborating artists with external brands that coincide with their musical content and overall message.
The Sony Music alumas, where she held a similar role, stresses the importance of authenticity when pairing TIDAL or other artists with other brands.
Alexa Disney
“Fans know if it’s not authentic,” she says.
There was more push back during the beginning of her career, where many artists perceived brand partnerships to be a gimmick, rather than something that can help expand their audience. In this day and age, artists are more receptive because it helps to only add to their overall brand.
For Tonya Nelson-Fisher, the manager of music programming, she connects TIDAL’s “most passionate music fans” to their favorite genre, artists, era of music and more. In addition, Nelson-Fisher helps to curate themed playlists for specific holidays, months and even cultural icons. Back in January, TIDAL uploaded a playlist of Martin Luther King Jr.’s most famous speeches. The same goes for Maya Angelou and Malcom X.
“I think that differentiates us and helps us to stand out from the pack,” she says.
Tonya Nelson Fisher
Nelson-Fisher promises that TIDAL will introduce new features to enhance their user experience in the near future. The digital streaming platform has added the HiFi Plus tier user experience, which grants access to lossless High Fidelity sound quality, master quality and immersive audio.
Although Tonya, Alexa and Melanie’s roles differ, they co-exist to expand TIDAL’s reach to potential new audiences, while maintaining the interest of the ones that already exist.
Their musical obsession only adds to the growth and success of the platform.
Continue the Women of TIDAL conversation on social media.
“I found so many songs, my playlist game is A++,” he bragged. “I challenge anyone out there. I’m definitely in the top tier of playlist creators.”
Over the past several years, he’s made an effort to prove it, most recently putting together a list celebrating his onetime rival Nas — the only rapper with whom he’s worked in the past year — a 2020 year-end list highlighting the bar-heavy favorites that sustained him in a year of COVID, and the protest-themed “Songs For Survival 2,” which tapped into the rebellious energy of the summer 2020 uprisings against police brutality.
Elsewhere during their chat, Jack and Jay discussed the overlaps in music and Square, and how related tools like CashApp can help artists (as well as being name-checked by them in a rapidly increasing number of songs). “The things that Square and Cash App were doing is pretty much aligned with what one does with their own brand,” Jay noted. “You create a business, take out a small loan, get the things you need to help you be successful and build it out from there. So our conversations just naturally aligned.”
A couple months ago, there were reports that Square, the mobile payments company of which Twitter co-founder/CEO Jack Dorsey is also founder/CEO, was in talks with Jay-Z’s streaming service Tidal to buy the platform. It turns out those were more than just rumors, as both Dorsey and Jay have confirmed that the deal is just about finalized.
The New York Times reports that Square will acquire a “significant majority” of Tidal for $297 million in stock and cash. The publication also notes that earlier this week, Jay-Z bought back 33 percent of Tidal from T-Mobile after selling those shares to Sprint (which has since become part of T-Mobile) in 2017. Most of those shares will be sold to Square as part of the new deal.
Dorsey shared a lengthy series of tweets about the deal this morning, which began, “Square is acquiring a majority ownership stake in TIDAL through a new joint venture, with the original artists becoming the second largest group of shareholders, and JAY-Z joining the Square board. Why would a music streaming company and a financial services company join forces?! It comes down to a simple idea: finding new ways for artists to support their work. New ideas are found at the intersections, and we believe there’s a compelling one between music and the economy.”
Jay-Z also shared a message about the deal on Twitter, writing, “This partnership will be a game-changer for many. I look forward to all this new chapter has to offer! Jack is one of the greatest minds of our times, and our many discussions about TIDAL’s endless possibilities have made me even more inspired about its future. This shared vision makes me even more excited to join the Square board. I said from the beginning that TIDAL was about more than just streaming music, and six years later, it has remained a platform that supports artists at every point in their careers. Artists deserve better tools to assist them in their creative journey.”
This partnership will be a game-changer for many. I look forward to all this new chapter has to offer!
Jack is one of the greatest minds of our times, and our many discussions about TIDAL’s endless possibilities have made me even more inspired about its future. This shared vision makes me even more excited to join the Square board.
I said from the beginning that TIDAL was about more than just streaming music, and six years later, it has remained a platform that supports artists at every point in their careers. Artists deserve better tools to assist them in their creative journey.
“Square is acquiring a majority ownership stake in TIDAL through a new joint venture, with the original artists becoming the second largest group of shareholders, and JAY-Z joining the Square board. Why would a music streaming company and a financial services company join forces?! It comes down to a simple idea: finding new ways for artists to support their work. New ideas are found at the intersections, and we believe there’s a compelling one between music and the economy. Making the economy work for artists is similar to what Square has done for sellers.
Square started 12 years ago by giving small sellers a simple tool in order to participate more fully in the economy and grow. We did the same for individuals with Cash App, which now enables a comprehensive set of financial services for folks who weren’t able to access it before. TIDAL started with the idea of honoring artists by being artist-owned and led, focused on an uncompromised experience of the art. It’s refreshing and right. The vision only grows stronger as it’s matched with more powerful tools for artists, inclusive of new ways of getting paid.
Given what Square has been able to do for sellers of all sizes and individuals through Cash App, we believe we can now work for artists to see the same success for them, and us. We’re going to start small and focus on the most critical needs of artists and growing their fanbases. Square created ecosystems of tools for sellers & individuals, and we’ll do the same for artists. We’ll work on entirely new listening experiences to bring fans closer together, simple integrations for merch sales, modern collaboration tools, and new complementary revenue streams.
To all of TIDAL’s current listeners and fans: THANK YOU for your loyalty and commitment to artists and their work. TIDAL will continue to be the best home for music, musicians, and culture. Our commitment to you is to constantly listen, learn, and work to make a service you love.
I’m grateful for Jay’s vision, wisdom, and leadership. I knew TIDAL was something special as soon as I experienced it, and I’m inspired to work with him. He’ll now help lead our entire company, including Seller and the Cash App, as soon as the deal closes.”
Square is acquiring a majority ownership stake in TIDAL through a new joint venture, with the original artists becoming the second largest group of shareholders, and JAY-Z joining the Square board. Why would a music streaming company and a financial services company join forces?!
It comes down to a simple idea: finding new ways for artists to support their work. New ideas are found at the intersections, and we believe there’s a compelling one between music and the economy. Making the economy work for artists is similar to what Square has done for sellers.
Square started 12 years ago by giving small sellers a simple tool in order to participate more fully in the economy and grow. We did the same for individuals with Cash App, which now enables a comprehensive set of financial services for folks who weren’t able to access it before.
TIDAL started with the idea of honoring artists by being artist-owned and led, focused on an uncompromised experience of the art. It’s refreshing and right. The vision only grows stronger as it’s matched with more powerful tools for artists, inclusive of new ways of getting paid.
Given what Square has been able to do for sellers of all sizes and individuals through Cash App, we believe we can now work for artists to see the same success for them, and us. We’re going to start small and focus on the most critical needs of artists and growing their fanbases.
Square created ecosystems of tools for sellers & individuals, and we’ll do the same for artists. We’ll work on entirely new listening experiences to bring fans closer together, simple integrations for merch sales, modern collaboration tools, and new complementary revenue streams.
To all of TIDAL’s current listeners and fans: THANK YOU for your loyalty and commitment to artists and their work. TIDAL will continue to be the best home for music, musicians, and culture. Our commitment to you is to constantly listen, learn, and work to make a service you love.
I’m grateful for Jay’s vision, wisdom, and leadership. I knew TIDAL was something special as soon as I experienced it, and I’m inspired to work with him. He’ll now help lead our entire company, including Seller and the Cash App, as soon as the deal closes. https://t.co/YRfYjcWJQxpic.twitter.com/xBtq2xfwue
