By CCN.com: One of the most famous rappers to break into the industry without a hand up from another rapper, who went straight from SoundCloud to multi-platinum certification by the RIAA, Lil Pump, whose hit song is “Gucci Gang,” is accepting Bitcoin at his online…
By CCN.com: One of the most famous rappers to break into the industry without a hand up from another rapper, who went straight from SoundCloud to multi-platinum certification by the RIAA, Lil Pump, whose hit song is “Gucci Gang,” is accepting Bitcoin at his online merchandise store, Unhappy.com. The site features branded t-shirts and accessories endorsed by the rapper.
Most of the crypto press is touting Lil Pump as “accepting Lightning Network.” While true, it’s incidental. Because the rapper’s store uses OpenNode, customers can select the Lightning Network option when completing checkout. Here is what it looks like:
Like most payment processors, the app generates a QR code a time limit to pay for the order, using Lightning Network or regular Bitcoin. To pay with Lightning Network, you have to have a Lightning-enabled wallet and some understanding of how that all works.
The second-layer Bitcoin scaling solution is a subject of regular derision in other communities, like Bitcoin Cash, where it’s viewed as creating more problems than it solves, and not addressing the fundamental issue of blockchain capacity.
Lil Pump accepts a variety of other options, as well, including Paypal, Venmo, and all major credit cards. The 18-year-old ranked on Forbes’ 30 Under 30 this year, which may or may not mean he’s well on his way to an incredibly successful career.
He’s certainly not the first rapper to accept Bitcoin. Years back, 50 Cent accepted Bitcoin for one of his albums. The rapper, who recently filed for bankruptcy, made over 700 BTC for Bitcoin sales of his album “Animal Ambition.” Accepting cryptocurrency can occasionally be the good decision that keeps on giving. 50 Cent later denied his Bitcoin riches.
Lightning Network has been in the spotlight more and more recently. Everyone’s hyped up about a browser extension that enables Lightning payments for Amazon, although Jeff Garzik, among others, doesn’t see the point of getting overly excited.
Wu-Tang Clan’s Ghostface Killah backed an ICO which amounts to a type of stablecoin, called Cream Capital.
Recently-slain rapper Nipsey Hussle was an early Bitcoin adopter, and partially owned a company called Follow Coin. Coinbase counts among its investors the rapper Nas, who also gave away Bitcoins to top fans back when they weren’t worth nearly what they are today.
Bitcoin is also the subject of several rap songs, including this mainstream one:
There’s no doubt that cryptocurrency can have a positive impact on creative industries like hip hop. Fans around the world who may not have access to credit cards, but can use a Bitcoin ATM, can support their favorite artists. There are also several blockchain-centric music platforms, such as Choon.
Last modified: January 10, 2020 9:50 PM UTC