According to CNBC report, Cream Capital, Cryptocurrency Company co-founded by Ghostface Killah. The company is appearing to raise $30 million during its ICO.
The word Cream is derivative from the name WU-Tang Clan’s classic song “C.R.E.A.M.” which stands for “Cash rules everything around me”. But when its matter of the company, Brett Westwood, the chief executive told CNBC it grants the trademark for Crypto Rules Everything Around Me.
In November the ICO tokens “Cream Dividend” will be selling, which can be exchanged for Ether. Considerably, Ether is the value token of the Ethereum Blockchains. Essentially, Blockchains are the backbone of digital currency which is the digital ledger for economic transactions. However, the digital currency Bitcoin that uses cryptography for security.
Westbrook told Pigeons & Planes the rapper’s role in the company,
“Ghostface Killah is a longtime business partner of ours. His work capacity will be laying out a framework for which Cryptocurrencies are more familiar to everyday people”.
Related Coverage: Ethereum price falls below $300 Due to Cryptocurrency ICO Hype
Recently, ICOs crowdfunding has come under scrutiny. According to the TechCrunch, the companies REcoin and DRC World accuse by the Securities and the Exchange Commission. Hence, for selling unregistered securities and coins that don’t exist. Since it appears to be the first ICOs to come under scrutiny for fraud.
Cream Capital told CNBC that its ICO participants would be secure through digital coin standard to stop investors from monetary losses. Additionally, the company says that virtual coins can also add to debit cards that can get into stores and places that take card payments.