The Saga Continues

Thursday, September 28, 2017

Shkreli's Wu-Tang Album Is the Newest Target in Odd Virtual Coin Craze

It looks like the Game of Thrones token may not be the strangest initial coin offering of 2017, after all.

Behold Wu-Tang Coin, the digital token at the heart of a purported ICO whose sole purpose is to raise money to buy and publicly release the Wu-Tang Clan album that convicted fraudster Martin Shkreli once spent $2 million on.

The fundraising began today, according to Wu-Tang Coin’s Twitter account, which has 17 followers. Rare Music Ltd., the company behind the efforts, is seeking to raise $3 million to $4 million, according to a white paper listed on the internet. It has raised less than $1,000 so far.

Earlier this month, Shkreli reportedly sold the album -- “Once Upon a Time in Shaolin” -- for just over $1 million on EBay, though it’s unclear if the sale went through.

A new Initial Coin Offering has put a cherry on top of the most frothy market of 2017. The organizers of Wu-Tang Coin, whose launch today was first spotted by Bloomberg, are proposing to raise $3 million to $4 million worth of cryptocurrency to buy the infamous Wu-Tang Clan album Once Upon a Time in Shaolin from disgraced pharmaceutical entrepreneur/convicted securities fraudster Martin Shkreli, and make it publicly available.

Now checkout

No comments:

Post a Comment