Key Takeaways
Dennis David Coles, better known as Ghostface Killah from the iconic hip-hop group Wu-Tang Clan, has announced his plans to release exclusive music as Bitcoin Ordinals.
This move marks a unique intersection of cryptocurrency and music distribution for the renowned rapper.
In a recent post on Twitter, the rapper revealed plans to distribute 10,000 of his music Ordinals through a free minting process.
Additionally, he said that holders would gain Creative Commons Zero (CC0) rights. This, effectively, relinquishes copyright interest and lets anyone modify, enhance, and reuse the music.
Ghostface attributed the creation of the Bitcoin Ordinal collection to a collaborative effort with Ordinals Bot, Rare Scrilla, and NakaPepes.
The rapper’s venture into the cryptocurrency space dates back to 2017 when he tried to set up his own cryptocurrency firm. Cream Capital, aimed to secure $30 million through an initial coin offering (ICO), a method that popular among celebrities then.
Ordinals, are Bitcoin’s equivalent of non-fungible tokens (NFTs). They are inscribed directly onto the Bitcoin blockchain, utilizing Bitcoin as the required token for minting. As per the Ord.io website’s latest update, a total of 1,290 audio files have been inscribed onto Bitcoin.
The trend of issuing exclusive music or rights to previously released tracks as NFTs has gained momentum among musicians. Blockchain-powered platforms like Sound.xyz and Audius are enabling artists to exercise greater control over their work.
Notably, the American thrash metal band Megadeth and the estate of Michael Jackson have joined the ranks of artists offering exclusive music and content to their fans through this approach.
However, the use of Bitcoin Ordinals for the release of exclusive music drops and fan perks is relatively uncommon among musicians.
Ordinals burst onto the scene in early 2023, with the first minted on the Bitcoin mainnet by developer Casey Rodarmor. Despite an initial surge in popularity, interest in Ordinals began to fade. However, by March 4, there was a noticeable resurgence in their weekly sales. They even surpassed those of Ethereum, with its price at $3,272.
Meanwhile, Ordinals have garnered attention from notable brands. NFT marketplace SuperRare declared its foray into Bitcoin Ordinals on March 15, introducing a new collection titled “No Brainers.”
Also, in February, an emulator for the iconic Nintendo 64 (N64) gaming console was inscribed onto Bitcoin. This marked an effort to preserve classic video games through blockchain technology.