Wu-Tang Clan Rapper’s Son Launches Cryptocurrency. After nearly 14 years post-Ol’ Dirty Bastard’s death, the rapper’s estate has launched a digital currency to expand and honor his legacy. The token dubbed the “O.D.B. Coin” (formerly Dirty Coin) and marks the first of many upcoming Initial Artist Offerings (IAO) that will be available on AltMarket—a new peer-to-peer trading platform.
Performing artist Young Dirty, whose real name is Barson Jones, spoke to media outlets about the plan to create a fan-centric cryptocurrency. On top of the TAO blockchain network, this is built.
Perhaps unlike other cryptocurrencies with celebrity backing, this is an area that the U.S. Securities and Exchange Commission has taken a stern tone towards; those behind O.D.B. Coin say they moved carefully towards its launch.
“I couldn’t be more excited about the future for the O.D.B. Coin, and I know my dad would have felt the same way,” O.D.B.’s son Young Dirty said in a statement. “It’s a great way to connect with fans and reward them for their interest. I look forward to delivering even more music that would make Dad proud.”
The currency, previously called Dirty Coin, is officially open for presale on AltMarket. You can learn more about the presale as well as about trading on AltMarket on the platform’s website at https://alt.market/
Wu-Tang Clan Rapper’s Son Launches Cryptocurrency. During an interview with Yahoo! Finance earlier this year, Young Dirty explained that the O.D.B. To fund various projects, such as albums, concerts, and O.D.B. merchandise, like video games and books, Coin will be used.
Future IAOs will benefit artists in similar ways, in addition to giving fans special access to events, tours, and exclusive merch from ‘Purple Haze Properties’ and ‘Select A Head’.
The idea is that O.D.B. Coin will be the first of a planned series of artist-branded cryptos to develop and distribute. Rather than serving as vehicles for investment, the tokens intend to act as a kind of incentive for fans of artists like Young Dirty. Thus, allowing them to spend at shows or on merchandise.
In the past numerous companies, including American Express, Singapore Airlines, among others the use of blockchain was part of consumer incentive schemes .
The closest analog, however, is perhaps a loyalty project involving IBM and China’s UnionPay, which unveiled a proof-of-concept back in 2016 that sought to make incentive points freely tradeable between users. It’s that sort of commodification that the O.D.B. Coin’s creators are betting would be adopted, and indeed, embraced, by an artist’s fanbase.
“It’s a great way to connect with fans and reward them for their interest. I look forward to delivering even more music that would make Dad proud,” Young Dirty explained.
Ultimately, the goal is for O.D.B. Coin to pave the way for other artists to create similar tokens, with Bryce Weiner, AltMarket’s CEO saying, “We will be announcing our next project at the conclusion of this sale.”
“We are quite proud of the response from the music industry. We look forward to becoming home to the biggest names in music,” Weiner told CoinDesk.