Lil Yachty, Grammy nominated rapper to launch Ethereum token

Lil Yachty is but the latest rapper to get into so-called “social tokens.”

Lil Yachty, the 23-year-old rapper and Grammy nominee, is to mint an Ethereum-based cryptocurrency token

The American rapper, whose real name is Miles McCollum, is the latest to issue a so-called “social token” — a cryptocurrency bearing an influencer’s name that trades on cryptocurrency exchanges. An influencer can accept these coins as currency, redeemable for goods and services. 

Lil Yachty has 10.7 million listeners on Spotify, 9.8 million Instagram followers and 5.2 million Twitter followers. He is, said Remo Prinz, co-founder of Fyooz, in a press statement, “the face of cool and the sound of rhyme,” and “always in motion.” 

Fyooz did not disclose when Lil Yachty’s token will launch or what the rapper plans to do with it. He will be the largest influencer to feature on the platform. Others registered to Fyooz include JAS CRW, a Swiss Afrobeats trio and Meta Hiltebrand, a Swiss celebrity chef. 

The company is but the latest to jump on the train. There’s Roll, the social-token company headed by former Coindesk analyst Bradley Miles and founded last year. Then there’s Rally, a social-token platform that lets the community choose who can vote. 

And Lil Yachty is but the latest rapper. Roll has signed up Akon and Ja Rule. Roll, to celebrate social tokens, produced a rap about crypto with Alex Masmej, a crypto marketer and entrepreneur, and Lil B, another rapper.

So far, none of those rappers have launched their own social money tokens. So Lil Yachty may have a ‘lil head start.

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TimeBit/Source: Decrypto

*The article is for information purposes and market analysis only, not an article that encourages investment. You should do your own research before making any investment decisions. Crypto, Forex news updated 24/7 on our social media channels: Follow us at TimeBit and Telegram Timebit-Cryptonews.