Rapper Raftaar becomes first Indian artist to accept performance fee in cryptocurrency

Rapper : Raftaar

The 60-minute virtual performance is scheduled in July, hosted in Canada, for a private gathering of 100 people.

The cryptocurrency mania sweeping the world is being increasingly picked up by the music industry. Heralding a pioneering move in the Indian music industry, it is now confirmed that rapper, music composer and music producer Raftaar says he now accepts cryptocurrency in lieu of actual currency as his performance fee.

Instrumental in orchestrating this exceptional transaction was Raftaar’s long time business partner Ankit Khanna. The virtual performance is scheduled for the second week of July 2021 for a boutique 60-minute event to be hosted in Canada, Ottawa for a private gathering of 100 people.

Ankit Khanna of AK Projekts states, “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 of 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 long ..

Raftaar expands, “I’ve always been an ardent admirer of blockchain technology and I’ve always wondered why artists and managers alike haven’t explored the potentiality of this disruptive medium. Nevertheless, I’ve finally taken the baby steps in this direction.”

While the concept remains largely uncharted within the entertainment landscape of India, the appeal of cryptocurrency and blockchain technology is being used by global artists of the likes of 50 Cent, Mariah Carey, G-Eazy, Sia and Fall Out Boy, the Backstreet Boys and Lana Del Rey.

Tags: Raftaar, Cryptocurrency

Source: economictimes