American celebrity rapper Lil Yachty will soon release his own Ethereum-based social crypto coin YachtyCoin on Swiss token platform Fyooz.
Rising American rapper Lil Yachty has recently announced to launch his own Ethereum social crypto token “YachtyCoin”. The 23-year-old Grammy nominated artist has teamed up with Swiss token portal Fyooz to mint his own token and he has already confirmed the news through a tweet this week. After Akon and Ja Rule, Lil Yachty is the third music star to delve into the cryptocurrency space.
The rapper has not yet confirmed the launch date of the coin but has assured the coin would be released shortly on Fyooz app. After the initial sale, the Ethereum-based social token may be bought and sold on the Swiss token platform. However, presently the platform may not be used by persons located in the United States.
“It’s a great moment for me to announce the upcoming debut of my social Ethereum-based crypto token ‘YachtyCoin’. It’s going to be a historical milestone for my expanding career journey and I am excited to team up with Fyooz in this landmark mission. YachtyCoin would soon debut on Fyooz app”, stated Lil Yachty.
Lil Yachty is the latest celebrity to issue a “social” token. A social token can be defined as a crypto asset which boasts an influencer’s signature name, and akin to other crypto tokens, social tokens too can be exchanged against other currencies. Fyooz can do this in a compliant manner also for US celebrities who are interested in entering the crypto space. Lil Yachty is one of the most followed social influencers today, followed by 9.8 million followers on Instagram, 4.2 million on twitter and 10 million+ listeners on Spotify. After the launch, the social token may provide fans special access or rights to goods or services.
Lil Yachty’s foray in the crypto world has been embraced widely by the crypto community.
“It’s definitely an amazing thing for the crypto space to have celebrities like Lil Yachty joining the bandwagon with their own social tokens. Interests from prominent figures outside the blockchain and fiscal sphere are paving the way for crypto into the mainstream world at a faster pace and it’s a fantastic news for the entire crypto community as a whole”, stated Sydney Ifergan, leading crypto expert and founder of top crypto media website The Currency Analytics.
“I am a rap fan myself and I wish Lil Yachty all success with his maiden social token. I am looking forward to the launch of YachtyCoin and even secretly hoping if I could be their advisor”, chuckled Mr. Ifergan.
Fyooz too has tweeted their excitement about the upcoming launch of Lil Yachty’s social token. The company co-founder Remo Prinz stressed that it’s a challenge for performance artists to retain their appeal when they are unable to connect with audiences and followers live. A social token helps to reinforce the bond here by offering new experience to the followers which in turn rewards the artist with great appreciable value.
“We gladly welcome Lil Yachty as a trailblazer for the current generation”, Prinz added in.
Official Website: https://www.fyooz.io/