Words by Ime Ekpo
Well, Ghostface Killah is on the rise to being the kingpin of many trades. His California-based THC vape cartridge line in collaboration with Dr. Zodiak’s vape pen brand Dynamite Stix, Wu Goo became a phenomenon amidst cannabis lovers and hip-hop heads, and now, it appears that the Supreme Clientele legend is strategically entering the cryptocurrency business.
Cryptocurrency is a virtual exchange medium which controls the possibility of duplicate transactions thus securing them.
Ghostface is the said co-founder of cryptocurrency firm, Cream Capital (well, if you don’t say!), Crypto Rules Everything Around Me. The venture is on a mission to raise $30 million in the form of an initial coin offering, better known in the digital currency world as ICO, a digital coin sale.
Starting November, Cream Capital will start selling away “Cream Dividend” tokens, which can be exchanged for Ether, a crypto token that fosters the network. The big-time investors of Cream Capital plan on preventing money loss by protecting all ICO entrants with a digital coin standard.
According to CNBC, these digital coins will have the ability to conjugate into a debit card that can be used with any vendor that accepts debit card payments.
Cream Capital’s Chief Executive Brett Westbrook advises that celebrities should be cautious about their decision to promote an ICO, due to the probable outcome of it being a scam.
“I personally think that anything that puts cryptocurrencies in front of the eyes of everyday people is a great thing for the markets overall. On the other hand, I believe it’s important that celebrities know the importance of their endorsements and understand the underlying principles of blockchain technology.” Westbrook tells CNBC.
Ghostface Killah is not the first celebrity to get involved with a cryptocurrency venture, but he is certainly one of the most influential hip-hop figures to do it. This act of wisdom may post positive on the hip-hop community, and motivate his fellow iconic bodies along with hip-hop heads to consider involvement with the said lucrative movement.