The Return of the WU
25 years ago as Wu-Tang Clan dominated the U.S. hip-hop picture, they proudly proclaimed that “ The Wu-Tang Clan ain ’ metric ton nothing to f * ck with ” and in 2018 it ’ sulfur clear that the populace fame crew feels the same way. In hurt of a beastly wear market and a punctuate slowdown in ICOs, the Wu plan to debut their Ol Dirty Bastard Coin ( ODB ) themed token this workweek in a public presale. The nominal, previously known as Dirty Coin, is named after a asleep member of the hip-hop group who went by the same name and the knocker ’ s estate of the realm decided to rename the token to honor his memory. ODB ’ s son, Barson Jones, thought of the estimate in March and he envisions the token operation as a fan-centric cryptocurrency. Jones said, “ I couldn ’ triiodothyronine be more aroused about the future of the ODB Coin, and I know my dad would have felt the lapp way. ”
presently, the plan is to build the token on exceed of TAO blockchain. The token will finally trade on the AltMarket exchange. ODBCoin is not meant to be traded like an investing, quite, it is intended to act as an bonus for fans and Jones explained that fans would be able to spend ODBCoin on shows and other trade like video games, t-shirts, and books. The token will besides be used to fund albums, concerts and other Wu-Tang Clan relate projects. Jones believes the token is “ a bang-up way to connect with fans and reward them for their interest. ”
Will Initial Artist Offerings Raise the SEC and CFTCs’ Hackles?
In 2018 ICO ’ south slowed from a waterfall to a trickle as ball-shaped fiscal regulators cast a leery gaze at the fund-raise ventures. The SEC and CFTC have kept a close determine on all cryptocurrency related investment businesses and just end week hip-hop producer DJ Khaled and boxer Floyd Mayweather were sued for their allege involvement as fame endorsers of the Centra Tech ICO that turned out to be a scam.
For this reason, Jones said, “ We had to take the time out to get everything correct. ” AltMarket CEO Bryce Weiner concurs with Jones and explained that ODBCoin is viewed as “ trade, like a T-shirt, which makes it a commodity ” from the compass point of view of U.S. regulators. Weiner besides explained that he hopes ODBCoin will open the door to other artists designing exchangeable tokens that will be available for trade on AltMarket exchange.
What are your thoughts on Wu-Tang’s ODBCoin? Is the return of Initial Artist Offerings (IAO) a good thing? Share your thoughts in the comments below!
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