Cryptocurrency is increasingly growing popular among the masses and has entered the mainstream media as well. Aside from financial institutions, and a certain sports team, the music industry itself has adopted cryptocurrency as well, starting with the Indian music industry.
Music producer, composer, and rapper Raftaar has stated that he now accepts cryptocurrency as performance fees in lieu of fiat currency in the industry. According to the rapper, Raftaar has stated he has always been an admirer of digital assets and blockchain technology.
In support of Raftaar’s decision to orchestrate cryptocurrency transactions is his long-time business associate Ankit Khanna. The virtual performance of the rapper is scheduled for the second week of July 2021 at a boutique event hosted in Canada, Ottawa for about 100 people in a private gathering.
According to Ankit Khanna, who is also a serial entrepreneur and owner of AK Projekts, the music industry will be the first entertainment medium that completely and thoroughly accepted blockchain technology. He explained that cryptocurrency offers a seamless experience for anyone involved with music whether it’s composing or hosting events. Cryptocurrency removed the need for a middleman, and as such, the artist can directly interact with the public.
Khanna spoke bullishly in regard to Raftaar’s statement, the former supported the rapper’s decision for pioneering the voice of the current generation and endorsing cryptocurrency.
Raftaar expanded on his decision, stating that being an ardent admirer of blockchain he always saw the potential in the technology, and pondered its uses in the industry.
While the concept of adopting cryptocurrency in the music industry, especially in India largely remains uncharted. Nevertheless, several renowned global artists widely adopted blockchain technology, including the likes of 50 Cent, G-Easy, Mariah Carey, Fall Out Boy, Lana Del Ray, and the Backstreet Boys.
