Crypto rules everything around me- Wu Tang clan launches their own cryptotoken

24 Oct, 2018
by Arthur Sillers
Fun
Crypto rules everything around me- Wu Tang clan launches their own cryptotoken

C.R.E.A.M. - Cryptocurrency rules everything around me. The Wu Tang clan is launching a branded cryptocurrency pre-sale, which is set to go live December 1st, according to Covesting.

With the popularity of cryptocurrency skyrocketing, it seems like everyone is getting in on the space. The Wu Tang clan is launching the ODB coin, in honor of the deceased member of the hip-hop group Old Dirty Bastard. Young Dirty, ODB’s son, is calling the token ‘the first cryptocurrency of hip-hop.’ The coin is poised to launch on AltMarket, and is set to be the first of many tokens offered by musicians, which serve as a new form of artist patronage, according to Vents Magazine. This isn’t the first time that crypto has been pointed to as offering a way for fans to directly support musicians they love, with Imogen Heap reportedly creating a similar musical-crypto venture platform earlier this year.

The CEO of AltMarket Bryce Weiner notes that these type of crypto tokens are essentially no different from merchandise one might purchase to support an artist, like a t-shirt of poster, which makes the token not too dissimilar from DogeCoin or CryptoKitties, designed as a type of commodity rather than a security, and thus under the purview of the CFTC rather than the SEC.

Its difficult to know if fans will move to digital currencies to support the musicians they listen to, but the launch makes it clear that many are flooding to the crypto sphere to tokenize just about everything.

 Read more - DJ Khaled hit with lawsuit following ICO scam endorsement

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