Wu-Tang Clan is taking a second shot on cryptocurrencies after last year’s launch of Cream Capital. However, which did not manage an ICO finally. The crypto will support rapper son’s album launch and be using to buy merchandise and access events
The estate of the late Wu-Tang Clan rapper Ol’ Dirty Bastard is teaming up with Link Media to launch a cryptocurrency called Dirty Coin. It will be a fundraising effort for the first album of the late artist’s son Barsun “Young Dirty” Jones (called Bar-Son James). Therefore who will be the face of the cryptocurrency.
James told CoinDesk that the coin would be trading from later this year at the AltMarket exchange. The symbol will be ODB, and it will be forming on the TAO blockchain network.
It follows the launching of Cream Capital by Ghostface Killah last year. So it is not the first Wu-Tang-relating crypto exploit. However, it also supports the previous year’s spat of celebrity-endorsed ICOs and cryptocurrency. U.S. Securities and Exchange later warned that such endorsements could break “anti-touting” laws.
Link Media Partners is an entertainment industry firm. The date for launch is not yet set although the “initial artist offering” is to take place this summer.
The cryptocurrency will be using to support the album launch as well as access shows and buy merchandise by the fans.
James said that the project might encourage other artists to consider cryptocurrency.
Ghostface Killah acts as a brand awareness vessel for the Cream Capital and cryptocurrencies. However, the project aimed at raising money through ICO but this plan was changed in November. They later announced that the suspension of the ICO to have a wholly funded project with the founders retaining 100 percent of equity.