Wu-Tang Clan member’s son to release “Dirty Coin” cryptocurrency in 2018
The coin will exist on the TAO Network and be traded on peer-to-peer fund raising platform AltMarket.
Wu-Tang Clan, a hip-hop collective from Staten Island, New York City, are revered as one of the greatest rap groups of all time. This week, one of the founding member’s offspring has decided to launch a cryptocurrency.
Young Dirty, whose actual name is Barsun Jones, is the son of legendary artist Ol’ Dirty Bastard (ODB). An aspiring rapper himself, Jones has partnered his father’s estate with entertainment firm Link Media Partners.
The agreement sees Young Dirty become the brand ambassador for the aptly-named “Dirty Coin.” The Estate of Russell Jones a.k.a Ol’ Dirty Bastard is managed by widow Icelene Jones and Four Screens Production team.
The Dirty Coin (ticker ODB) will initially be used by ODB’s Estate to fund projects for Young Dirty, such as his debut album, which is set to be released later this year. The aim is to assist Jones in recording and releasing music without the assistance of a third party record label.
An Initial Artist Offering (IAO) for the “Dirty Coin” will be conducted in summer 2018. The Dirty Coin is expected to be used to purchase exclusive merchandise and music from the fallen rapper, as well his son. The coin will exist on the TAO Network and be traded on peer-to-peer trading and fund raising platform AltMarket.
“Bitcoin is the future of money and all the fans want a part of the future of Ol’ Dirty Bastard,” Young Dirty said. “In the past, Dad’s music was ahead of its time, so it makes sense that he would be ahead of the technology of money now.”
Wu-Tang Clan found initial success in the early 90’s hip-hop scene. An extensive list of members and affiliated acts continue to produce and deliver music to this day. In fact, convicted American businessman Martin Shkreli purchased the group’s exclusive single copy album “Once Upon a Time in Shaolin” in 2015 for $2 million.
However, this week, as part of his criminal sentence, Shkreli was ordered to forfeit the Wu-Tang Clan album.
Digital assets have been trending lately and receiving the attention of celebrities, often through endorsements. One obvious example is American film actor Steven Seagal’s recent advocacy of controversial Bitcoiin token.
So, should you or shouldn’t you buy the latest cryptocurrency or token? This is a common question posed to Securities and Exchange Commission (SEC) office of investor education and advocacy director Lori Schock.
“Never make an investment decision based solely on celebrity endorsements. Just because your favorite celebrity says a product or service is a good investment doesn’t mean it is. Always do thorough, independent research of the product,” Schock said.
You can learn all about different exchanges, understand exactly how to buy and sell cryptocurrencies, calculate your taxes, discover digital wallets to hold assets and explore a list of all the alternative coins on the market.
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