If you’re one of those wondering what’s taking so long for the cryptocurrency offering from the estate of Wu-Tang Clan member Ol’ Dirty Bastard (ODB) to be available, you’re in luck. The pre-offering started this week.
CoinDesk reported the cryptocurrency, ODBCoin, is built on the TAO blockchain network and will be traded on the new AltMarket exchange, which is hosting the pre-sale.
ODB died 14 years ago but his son, Young Dirty (real name Barson Jones), said in a statement the coin, first announced in March, is a way to “connect with fans” and reward them for their support.
Rappers, like professional sports franchises and other businesses, know cryptocurrency is a way for fans to buy merchandise. In fact, Bryce Weiner, AltMarket’s CEO, reportedly described the ODBCoin as “merchandise, like a T-shirt, which makes it a commodity” and not an initial coin offering in the eyes of U.S. regulators. That should make the SEC rest easy. Read more here.