Grammy Award-winning DJ and electronica artist RAC has announced that he has launched his own cryptoasset – a community Ethereum network token he has dubbed the $RAC.
In a blog post, the American DJ, real name André Anjos, wrote,
“Crypto enables communities to capture the value they create instead of being monetized by pre-existing platforms and $RAC is an active experiment pushing the envelope on these primitives.”
However, RAC has indicated that he is not looking to ask fans to buy tokens – and will instead distribute them to his most loyal supporters as a form of reward. The $RAC token, he added, would help “unlock access to various perks and exclusive content.”
An initial 10 million tokens are slated for release, with a group of 1,545 Bandcamp supporters set for a windfall. RAC merchandise buyers and Twitch supporters will also receive tokens.
And there will also be perks for RAC fans who pay Patreon subscriptions: These loyal individuals will receive a cool RAC 50,000 per month on a “pro-rata” basis.
And it appears that this is just the tip of the crypto iceberg for RAC – who said he is now working on adding “tokenized ad space” to his Twitch channel, as well as discounts on RAC-themed merchandise for $RAC holders.
Learn more: Tokenization Getting Personal With New Opportunities and Old Dangers