A few hours ago, the American rapper Lil yachty announced that he was working on his own cryptocurrency using Fyooz, a Swiss-based company that has created a social platform that allows fans to connect with their favorite artists.
Lil Yachty, just 23 years old, already has numerous nominations for the Billboard Music Awards, VMAs and Grammy Awards and has more than 10 million views on Spotify each month.
Known as "King of the teens", the American rapper will work with Fyooz to create your own cryptocurrency that fans in 136 countries can use through the Fyooz app to interact with the singer, a bit like what Socios allows with the many soccer teams.
Remo Prinz, co-founder of Fyooz, said:
“Without being able to connect with their audience live, performance artists will lose not only income but also appeal. Artists run the risk of ceasing to be present and relevant. But Fyooz consolidates the relationship through a token that represents access, rights and, in the end, an appreciable value. And all with one click for those stars who want to offer this new experience. We are so excited to welcome Lil Yachty as a pioneering voice for this new generation, the face of cool and the sound of rhyme. These qualities make Lil a billboard for Fyooz. He remains constantly on the move and today, rather than aiming to put up with existing problems within the old industry models, Lil Yachty has teamed up with Fyooz to create new methods of reaching out to fans and in doing so create a new investment paradigm for fans and stars alike globally ”.
Lil Yachty and other musicians in the world of cryptocurrencies
Lil Yachty is not the first musician to approach the world of cryptocurrencies. In fact, we can mention Akon, who created Akoin, a token based on the Stellar Lumens blockchain to help Africans emerge from their unbanked status.
Furthermore, in 2018 Perry Farrell, Cary Granat and Ed JonesBig names in music and special effects launched the Yala coin project, while Eminem dedicated a song to Bitcoin in the same year.
Most recently, singer Rita Ora had promoted Bitcoin on her Instagram profile.