Gramatik recently launched his new cryptocurrency called GRMTK (next up a trap side project with a name like that) at an ICO (Initial Coin Offering) in Zurich earlier this month. He raised the maximum amount of $2,480,000 million (or 7,500 ETH) and sold 25% of his tokens all in fewer than 24 hours. In total the GRMTK token ecosystem is worth $9 million.
Owning a token isn’t just another token for some random cryptocurrency that seem to pop up by the dozens each week. This will give you ownership of what Gramatik makes. For example, if you buy 100 tokens, you then would own 100 tokens worth of the rights and royalties of the music and projects Gramatik makes. This will obviously oscillate with the value of the token.
“GRMTK isn’t just a cryptocurrency, it’s much more than that, now my audience can share in my inspiration and success by also owning the rights and royalties of my music and anything I create and distribute on my upcoming channel,” he says in a statement. “If you hold 100 GRMTK tokens, then you own 100 tokens worth of the rights and royalties of the music and projects I create”
If you follow Gramatik on Twitter, you know that he thinks very highly of crypto and its potential to change the society.
“Embedded in the GRMTK token is not only the rights and royalties of my creations, but the ideals and philosophy of freedom and liberty for all artists, for all people,” he continues. “This is a movement of not only art, but of the mind and of the spirit.”
Watch a video of the token launch below.