Rapper Raftaar has announced that he will accept cryptocurrency instead of actual currency as his performance fee. He has become the first Indian artiste to do so. Raftaar said that he has been an ardent admirer of blockchain technology. Also, accepting payment using the same technology is like a dream come true for him. He has already started taking crypto payments for his show scheduled to bbe performed in July.
The demand for cryptocurrency witnessed an increase in the past few years. The craze has been aided by the constant support on social media from tech billionaire Elon Musk.
Raftaar to accept cryptocurrency as performance fee
Rapper Raftaar has revealed that as part of his performance fee, he will accept cryptocurrencies rather than cash. He is the first Indian musician to achieve so. Raftaar stated that he admired blockchain technology and that being able to take payments using the same technology is a dream come true for him. He has already begun accepting cryptocurrency payments for his upcoming event in July.
In recent years, there has been an increase in the demand for cryptocurrency, fuelled by tech tycoon Elon Musk’s frequent promotion on social media.
“I’ve always been an ardent admirer of blockchain technology. I’ve always wondered why artists and managers alike haven’t explored the potential of this disruptive medium. Nevertheless, I’ve finally taken the baby steps in this direction and all the credit goes to my manager, Ankit Khanna for making this dream a reality for me,” said Raftaar.
Raftaar will hold a virtual performance for which he would accept cryptocurrency in the second week of July. The intimate 60-minute event will be organized in Ottawa, Canada, for a group of 100 individuals.
Ankit Khanna, the rapper’s longstanding business associate and manager, had a key role in the cryptocurrency transaction.
Rapper Raftaar business associate and manager Ankit’s opinion
Further, Ankit shared: “In my opinion, music will be one of the first industries to be completely and thoroughly disrupted through the blockchain. The artist can now go directly to the public in every single way without the need for middlemen. Blockchain has the potential to expedite a seamless experience for anyone involved with generating or interacting with music. I’m happy to welcome this new transactional paradigm with my longtime business associate Raftaar who truly is a pioneering voice of this new generation.”
Meanwhile, global superstars like 50 Cent, Mariah Carey, G-Eazy, Sia, Fall Out Boy, the Backstreet Boys, and Lana Del Rey have endorsed bitcoin and blockchain technology.