Cryptocurrency creation continues to grow more prevalent among producers active in the electronic sphere, as evidenced in Years & Years’ development of their very own currency. The British band’s gravitation towards digital currency mimics that of 3LAU, Don Diablo, and Gramatik, artists who’ve exhibited interest in crypto-currency. 3LAU notably wrote his own beginner’s guide to cryptocurrency, while Don Diablo and Gramatik devised their own currencies, HEXCOIN and GRMTK, respectively.
Years & Years are clearly in good crypto company as they introduce the ‘official cryptocurrency of Palo Santo,’ YearCoin. Participants in the group’s digital currency will have the ability to ‘mine’ YearCoins by performing tasks relative to Years & Years’ catalogue. Streaming the artists’ single, ‘Sanctify’ on Spotify, pre-ordering their forthcoming sophomore album, ‘Palo Santo,’ and sharing the cryptocurrency online, for instance, all count towards users’ YearCoin counts. Once a player garners 1,000 Year Coins, that user will earn a ‘Palo Santo’ ID card.
Gramatik established his very own cryptocurrency, the GRMTK coin, back in November, a move that led the electro-funk producer to become the first artist to have his intellectual property tokenized. That same month, Gareth Emery announced the impending debut of Choon, a music streaming service and digital payments ecosystem built on an Ethereum blockchain base. 3LAU exhibited a similar affinity for digital currency in his composition and publication of a beginner’s guide to cryptocurrency in December.
Now, Don Diablo joins the crypto crew via HEXCOIN, the artist’s very own digital currency. Working in tandem with the block chain token, Gaze Coin, HEXCOIN enables HEXCOIN wallet owners to patronize HEXAGONIA, a virtual and augmented community in which those with HEXCOIN credit can purchase Don Diablo’s music and merchandise. The VR/AR/XR platform derives its name from Don Diablo’s podcast, Hexagonia, and his label, Hexagon.
Diablo fans need only to download the HEXCOIN wallet and deposit money therein in order to gain access to HEXAGONIA. Directed at a market of young Don Diablo fans, HEXCOIN presents itself as an accessible and easily to use alternative to credit and debit transactions.
“As a creator of electronic music, I’ve always been engaged in technology and how it can connect my art to the outside world,” Diablo said. “With HEXCOIN and HEXAGONIA, I see a future where the line between fan, artist, and technology blurs, and creativity is unleashed in powerful, measurable ways. I’m extremely excited to welcome Hexagonians and future fans to the next level of technology in music.”
Despite the looming uncertainty of the cryptocurrency bubble and the questions of the market’s solvency, 50 Cent will take his massive mental slip up all the way to the bank. The rapper’s Animal Ambition album reportedly earned 700 bitcoins over the course of several years, when they were worth $662, earning 50 near half a million dollars at the time. All 700 bitcoins were left in the account over the years though, acquiring the rapper well over $7 million in today’s market value. In an Instagram post, 50 delved into the honest nature of his investment: “I’m a keep it real I forgot I did that shit. Lol.”
One month has passed since Gramatik announced his very own cryptocurrency, alongside the release of his fourth EP project, Re:Coil Pt. 1. In so doing, the technologically inclined electro-funk producer made a historic move in becoming the first artist to have his intellectual property tokenized, thereby creating a new funding model for artist-fan relationships.
“Embedded in the GRMTK token is not only the rights and royalties of my creations, but the ideals and philosophy of freedom and liberty for all artists, for all people. This is a movement of not only art, but of the mind and of the spirit.”
At the 24-hour launch party for his GRMTK coin, which took place in Zurich on November 9, Gramatik raised $2.48 million (7500 ETH). 25% of the total tokens were released in the token sale, and sold-out within 24hrs, putting the total valuation of his burgeoning GRMTK entertainment economy at $9 million. Fans purchasing coin shares will now have a stake in the revenue of his work as he produces music and scores films.
“GRMTK isn’t just a cryptocurrency, it’s much more than that, now my audience can share in my inspiration and…anything I create and distribute on my upcoming channel.”
Gramatik hopes to revolutionize the music and blockchain spheres, showing the world the fundraising potential of artist tokenization. “Even the big names with massive worldwide fan bases like Skrillex have an interest in creating without intermediaries, getting rid of major labels when they’re not helping,” says Gramatik.
Watch the launch party livestream (above) via the decentralized entertainment channel, Singular DTV.
Currently on his massive 26-date European “Re:Coil” tour, electro-funk pioneer Gramatik has returned with his highly-anticipated Re:Coil Part I EP. While on tour, Gramatik will also be launching his very own cryptocurrency coin — what he’s dubbing GRMTK — giving him complete control over the distribution of his media via a decentralized entertainment channel called Singular DTV. The GRMTK token will also make him the first “tokenized” artist in history, with token holders receiving a portion of his rights and royalties.
Gramatik has previously teased three tracks off the album as far back as June, including the groovy poolside jam “Recovery” featuring Eric Krasno, “Voyager Twins” with Galactic Marvl, and, most recently, “Aymo” with Balkan Bump and Talib Kweli.
Centered around themes of science and technology, the 6-track EP also features collaborations with Branx and Anomalie, broadcasting Gramatik’s momentous artistic versatility and range, while demonstrating his ability to take music into the future of global digitization. The EP is out now on Gramatik’s own imprint, Lowtemp Music.