The “fan” cryptocurrency is preparing for the presale …
The “fan” cryptocurrency of the son of the co-founder of the rap group Wu-Tang Clan is preparing for the presale
A few months after its debut, ODBCoin, a cryptocurrency launched by the heir to the deceased rapper Ol&# 039; Dirty Bastard (ODB), who played with the Wu-Tang Clan, is gearing up for a public presale this week, writes CoinDesk.
In March, rapper Young Dirty Bastard, son of ODB, told the media that he plans to create a fan-focused cryptocurrency developed on the basis of the TAO blockchain network, and it will be traded on the AltMarket exchange (it will be she who will pre-sell the ODB token ).
Unlike the developers of other celebrity cryptocurrencies, this is an area that the US Securities and Exchange Commission (SEC) has recently begun to pay more attention to – the creators of the ODBCoin token say they will prepare for release with caution.
“We need time to get it right,” Young Dirty said in an interview..
AltMarket CEO Bruce Weiner described ODBCoin as “a T-shirt-like paraphernalia that makes it a commodity” in the eyes of US regulators.
OBDCoin, formerly called Dirty Coin, is slated to be the first of its kind of celebrity cryptocurrency. They will not serve as investment vehicles, but as incentive points for fans of artists like Young Dirty, which can then be spent on attending shows and merchandise..
Others have tried blockchain in the past, such as American Express and Singapore Airlines..
But the closest analogue is perhaps the loyalty program developed by IBM and China UnionPay, which in 2016 talked about their pilot project using incentive points freely exchanged between users. According to the creators of ODBCoin, this type of commodification will become popular among the artist fanbase..
“It’s a great way to communicate with fans and reward their interest. I’m looking forward to posting even more music that my father would be proud of, ”Young Dirty said.
The ultimate goal of ODBCoin is to pave the way for other artists looking to create similar tokens. According to Weiner, after the end of this campaign, they will announce a new project..
“We are very proud of the response we have received from the music industry and we hope to be home to some of the biggest names in music,” he said..
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