As an up-and-coming musician it’s not easy to make money . Labels wanna take a cut of your profits and claim ownership over your creations . In today’s post streaming music landscape , selling your own merchandise is the best way to make money .. but what if instead of branded sweatshirts , you branded your own money ?
Groundbreaking producer and technological advocate , Gramatik takes his game to the next level with his own cryptocurrency , GRMTK . He’s the first DJ/Producer to do so .
Cryptocurrencies remove banking middle men from the transaction process, so, if you buy an artist’s music with cryptocurrency, you’re making a deal with the artist directly.
Gramatik launched his own cryptocurrency GRMTK in front of his fans at X-TRA in Zurich . Gramatik , alongside SingularDTV , launched the GRMTK token on Friday , November 9 .
“GRMTK isn’t just a cryptocurrency, it’s much more than that, now my audience can share in my inspiration and success by also owning the rights and royalties of my music and anything I create and distribute on my upcoming channel. If you hold 100 GRMTK tokens, then you own 100 tokens worth of the rights and royalties of the music and projects I create” Gramatik is quoted as saying in a press release.
Fans bought into the GRMTK system for a total value of $2.48 million (or 7,500 “etherium,” the digital base of GRMTK’s token system). Gramatik sold a quarter of his GRMTK tokens to fans in the first 24 hours, and today, the total value of the GRMTK ecosystem is a whopping $9 million.
Gramatik – “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.”
Now that the world has seen the fundraising potential of artist tokenization, Gramatik is confident that the world-beating stars and luminaries of the music world will have their interest piqued. “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 .
Check the GRMTK token launch here :
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