{"id":123793,"date":"2020-12-01T17:25:00","date_gmt":"2020-12-01T14:25:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/christian-music-chart-toppers-join-crypto-arena-with-digital-fan-token\/"},"modified":"2020-12-01T17:25:00","modified_gmt":"2020-12-01T14:25:00","slug":"christian-music-chart-toppers-join-crypto-arena-with-digital-fan-token","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/christian-music-chart-toppers-join-crypto-arena-with-digital-fan-token\/","title":{"rendered":"# Christian music chart-toppers join crypto arena with digital fan token"},"content":{"rendered":"

“# Christian music chart-toppers join crypto arena with digital fan token <\/strong>”
\n<\/p>\n

Veteran Christian vocal trio Selah launched its own cryptocurrency fan token via the Rally platform on Dec. 1.<\/p>\n

Followingthe group\u2019s latest album debuting at number one on the iTunes Christian Music chart, the 3CR8 token will give fans access to exclusive benefits such as private messages, video chats and signed merchandise.<\/p>\n

Selah, meaning \u201cpause\u201d in Hebrew, is a true giant of the Christian music genre, notching up 4 million albums sold and 10 Gospel Music Association Dove Awards in over two decades of making music.<\/p>\n

Step Into My Story<\/em> is the trio\u2019s 16th album release and the first on its own 3Cre8tive record label, after which the tokens were named.<\/p>\n

At launch, fans will be able to spend $200 worth of 3CR8 tokens on a live 10-minute video call with a band member, $150 of tokens on a personalized greeting, or $20 to purchase a signed album on compact disc.<\/p>\n

While the 3CR8 token is designed to promote fan engagement, Selah understands that cryptocurrency is more than just a marketing tool, as vocalist Todd Smith explains:<\/p>\n

“I grew up in Congo, Africa, where my family founded the Laban Bible Institute and started a medical dispensary, a women\u2019s literacy program, and a far-reaching radio station. Having witnessed firsthand the strangling devastation of economic inequality, the equalizing potential of cryptocurrency and its ability to remove suppressive financial barriers, globally, is thrilling.”<\/p><\/blockquote>\n

Rally is an open platform allowing creators to launch their own cryptocurrencies, minted on a private Ethereum sidechain. Pricing and supply for each \u201ccreator coin\u201d is determined by a token bonding curve, meaning that the more coins that exist, the more expensive those coins become.<\/p>\n

Minting a social<\/a> token costs the creator nothing, and the use of a private side chain allows the platform to implement features such as fiat on-ramps.<\/p>\n

Rally co-founder Mahesh Vellanki told Cointelegraph that the vast majority of creators and fans don’t use crypto at all, so this solution simplifies the onboarding process to help bring more users into crypto:<\/p>\n

\u201cThere will be a small minority of crypo-native users who will want to mint their own ERC-20 token directly on Ethereum so that it’s maximally trustless and they can experiment with complete control, but that is not Rally\u2019s target market.\u201d<\/p><\/blockquote>\n

Fans can purchase a creator\u2019s coin with credit or debit cards or cryptocurrency. Tokens can be redeemed either for creator-theme<\/a>d merchandise and experiences or for the USD Coin (USDC) stablecoin.<\/p>\n

Selah claims to be the first artist in the Christian music genre to launch its own cryptocurrency.<\/p>\n

However, while the potential to expose a whole new swathe of music fans to cryptocurrency is always welcome, Selah has some way to go if it wants to top Akon.<\/p>\n

The U.S.-Senegalese musician and rapper, who\u00a0credits his success to his Muslim faith<\/a>, has also launched his own cryptocurrency. Although rather than merchandise and personal messages, Akoin will be\u00a0used to power the futuristic Akon City\u00a0being developed in Senegal.<\/p>\n