ODB will be the abbreviation for the new Dirty Coin, which will soon be launched by ODB Estate, the late rapper’s estate manager.
In 2004, at the early age of 36, Russel Tyrel Jones, otherwise known as O’l Dirty Bastard, died due to a drug overdose. As a founding member of the Wu-Tang Clan, his career as a rapper launched him into the status of being a major Hip-Hop icon.
With a multi-faceted personality, Jones was recently played in the movie State Property 2 by Damon Dash, which came out after his death and founded another lesser-known Hip-Hop group called Fugees. The rapper is also known for his collaboration on the famous Hip-Hop track, “Ghetto Superstar”.
Now, nearly 15 years after his death, Ol’ Dirty Bastard will be returning to the lives of Americans with his memory forever preserved in the form of a cryptocurrency.
A Start-Up Talks ICOs, Showbiz Talks IAOs
We can rest assured that the idea to preserve his memory in the form of a cryptocurrency was not ODB’s own, since the rapper past 5 years before the launch of the very first cryptocurrency, Bitcoin. In fact, the man behind the project is his son, Bar-Sun Jones, nicknamed Young Dirty Bastard.
For the project, ODB Estate plans to partner with Link Media Partners, an events company and has based the Dirty Coin on the TAO Blockchain. The Dirty Coin is scheduled to be available by the end of this year on the cryptocurrency exchange Altmarket.
When asked about his interest in cryptocurrency, Young Dirty Bastard said “Blockchain technology is one of the biggest inventions of my time and I don’t want to be left in the dust… I want to be in it.”
Like an ICO (Initial Coin Offerings), which provide the presale of coins or tokens to help raise funds for a project, the son of the respected rapper plans to launch what will be called an IAO or Initial Artist Offering. The IAO will be used much like an ICO but is meant to garner attention from artists and showbiz.
A Miniature Revolution
Young Dirty Bastard has admitted that his intentions behind the project are personal since the funds will be used to help him launch his next album. The rapper isn’t shy about his financial appetite either, saying, “I have a passion for capital.”
The Dirty Coin (ODB) will be used by fans to be able to gain free entry into concerts and for the development of products with the late rapper’s name on it such as video games and apparel.
On a global level, Young Dirty Bastard hopes to transform the music industry with his initiative. “Music prospers when its creation and its finances are in the hands of the artists themselves.”
The Peopolisation of ICOs
If one thing is clear, it’s that the public’s interest in cryptocurrencies is growing. In 2017, after his fight with Connor Mcgregor, Floyd Mayweather announced on Instagram account that he planned on investing some $230 million into a cryptocurrency known as Stox.
In another scenario, a rapper known as The Game, who owns a medical clinic specialized in marijuana, lent his likeness to a Blockchain-based company known as Paragon which is dedicated to growing the controversial plant.
However, the American regulatory authority, the SEC, has warned against the peopolisation of ICOs. “This sort of guarantee to the people could be deemed illegal.”
Still, for the rest of the world, all we can do is wait and watch the development of the Dirty Coin (ODB).