Digital currency is allowing artists like Gramatik and Don Diablo to tokenize their work. Don Diablo has recently launched his own cryptocurrency called HEXCOIN, powered by Gaze Coin. It allows users to access his music, merchandise, and participate in HEXAGONIA.
In a news release, Don Diablo says he sees “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.”
Late last year Gramatik’s GRMTK cryptocurrency launched, allowing users to own value of his work. He’s quoted in a news release explaining, “if you hold 100 GRMTK tokens, then you own 100 tokens worth of the rights and royalties of the music and projects I create.”
According to 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.” He calls it “a movement of not only art, but of the mind and of the spirit.”
Artists engaging in cryptocurrency hasn’t stopped at those two. RAC released his album EGO on the Ethereum blockchain using UJO, and 3LAU wrote his own guide, where he offers “cautionary advice to newcomers in crypto.”
Gareth Emery launched his own distribution platform called Choon, described as “a music streaming service and digital payments ecosystem powered by the Ethereum blockchain designed to solve some of the music industry’s most fundamental problems.”
What do you think about artists entering the cryptocurrency world? Let us know in the comments!