American rapper Dennis David Coles, also known as Ghostface Killah from the Wu-Tang Clan, has revealed plans to release exclusive music under the concept of Bitcoin Ordinals.
In a social media post, Ghostface Killah announced a limited supply of 10,000 Bitcoin Ordinals, which will be available through a free minting process. Holders of these Ordinals will enjoy Creative Commons Zero (CC0) rights to the music.
Ghostface Killah’s involvement in the cryptocurrency realm dates back to 2017 when he attempted to launch his own cryptocurrency company, Cream Capital, aiming to raise $30 million through an initial coin offering (ICO).
Bitcoin Ordinals, while akin to non-fungible tokens (NFTs), are distinct in that they are inscribed on the Bitcoin blockchain, with Bitcoin as the minting token required. As per the Ord.io website, only 1,290 audio files have been inscribed to Bitcoin at present.
Releasing exclusive music or offering rights to previously released music as NFTs has become increasingly popular among musicians, with platforms like Sound.xyz and Audius providing blockchain-powered solutions for artists to exert more control over their content.
Although Ordinals gained popularity in early 2023 with the first minted on the Bitcoin mainnet by developer Casey Rodarmor, their presence in the crypto space had somewhat declined. However, a resurgence was noted on March 4, with Ordinals even outperforming Ethereum in weekly sales.
Despite their previous decline, Ordinals have seen adoption by notable brands. SuperRare, an NFT marketplace, expanded into Bitcoin Ordinals and introduced the “No Brainers” collection. Additionally, a campaign for preserving classic video games via blockchain saw an emulator for the Nintendo 64 (N64) inscribed in Bitcoin in February.
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