Cryptocurrencies continue to attain mainstream adoption in India as popular names in the country are now advocating for the emerging asset class. In a ground-breaking step for the Indian music industry, rapper, composer, and producer Raftaar has stated that he will now accept cryptocurrencies in lieu of actual currency as his performance pay.
“I’ve always been an ardent admirer of blockchain technology. I’ve always wondered why artistes and managers alike haven’t explored the potential of this disruptive medium. Nevertheless, I’ve finally taken the baby steps in this direction and all the credit goes to my manager, Ankit Khanna for making this dream a reality for me,” said Raftaar.
Ankit Khanna, Raftaar’s long-time business partner, was pivotal in executing this extraordinary transaction. The virtual performance is slated during the second week of July 2021 in conjunction with a 60-minute boutique event in Canada’s capital city of Ottawa for a private gathering of 100 people.
“In my opinion, music will be one of the first industries to be completely and thoroughly disrupted through the blockchain. The artist can now go directly to the public in every single way without the need of middlemen. Blockchain has the potential to expedite a seamless experience for anyone involved with generating or interacting with music. I’m happy to welcome this new transactional paradigm with my long-time business associate Raftaar who truly is a pioneering voice of this new generation.”
According to sources familiar with the matter, Raftaar is expected to receive the payment via WazirX tokens (WRX), which doesn’t come as a surprise as the musician has previously collaborated with the exchange. Some sources also state the he could also be performing a rap about cryptocurrencies in the near future.
Meanwhile other, major artists such as 50 Cent, Mariah Carey, G-Eazy, Sia, Fall Out Boy, the Backstreet Boys, and Lana Del Rey have already endorsed cryptocurrencies and blockchain technology.
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