RAC Issues A New ERC20 Ethereum Based Token

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Grammy award-winning music creator André Anjos is the most recent artist to faucet into the cryptocurrency house. Higher identified by his stage identify RAC, Anjos has launched a brand new Ethereum based mostly group token for artists.

The token can be named RAC. With it, the music producer intends to free artists and content material creators from the clutches of large-scale companies that stifle their monetary freedom.

RAC Provides Again To The Neighborhood With Ethereum Based $RAC

Within the RAC token issuing platform Zora’s newest weblog submit, André expressed how artists throughout a number of disciplines have been blatantly exploited by middleman companies. How their creativity has been a butt of overbearing contracts that rip via the essence of ‘inventive possession,’ and that the time is ripe for a ‘change.’

RAC added that he has been an ardent lover of the cryptocurrency ecosystem and that he believes crypto’s use-case state of affairs extends a lot past the monetary area, and that $RAC will foster and provides form to that dream

…it might probably create a brand new paradigm for inventive possession instantly between artists and their communities. This new paradigm is what I need to pursue with $RAC and I need to put it within the palms of my current followers and group.

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Andre ‘RAC’ Anjos. Supply: Patreon

How Will $RAC Give Form To Inventive Freedom?

RAC is an Ethereum-based ERC-20 token that needs to be earned. Nobody should purchase it, André stated in a tweet.

And who can earn RAC? Based on the Grammy-winning artist, solely ‘followers who assist the RAC venture, and who need to construct it alongside’ him.

Rewarding his ‘most loyal followers’ with RAC would result in the creation of an energetic group, he stated. A group that may leverage cryptocurrency tokens to entry ‘varied perks and unique content material.’ He added:

Crypto permits communities to seize the worth they create as an alternative of being monetized by pre-existing platforms and $RAC is an energetic experiment pushing the envelope on these primitives.

Not The First Crypto Undertaking For Andre

RAC will not be the primary cryptocurrency enterprise for RAC. With Zora by his aspect, André tokenized 100 ‘restricted’ cassette tapes of his final album BOY with a token referred to as ‘TAPE’ earlier this yr. 1 TAPE token will get the client one bodily tape.

Quickly after it’s launch on Zora, the ERC-20 crypto token’s worth took off and is now apparently the most expensive cassette tape ever bought.

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