Rapper Raftaar has become the first Indian artiste to accept cryptocurrency as a mode of transaction for his upcoming performance fee.
The 32-year-old's business partner and manager Ankit Khanna 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 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."
Raftaar said, "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."
The virtual performance for which he accepted cryptocurrency as his performance fee is scheduled for the second week of July.
It will be a 60-minute event set to get hosted in Canada, Ottawa for a private gathering of 100 people.
Meanwhile, there are many other global artists like 50 Cent, Mariah Carey, G-Eazy, Sia, Fall Out Boy, the Backstreet Boys, Lana Del Rey and many others who approved the cryptocurrency and blockchain technology.