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Veteran Christian vocal trio Selah launched their cryptocurrency fan token via the Rally platform on Tuesday.
Following the group’s latest album that debuted at number one on the iTunes Christian music chart, the 3CR8 token will give fans access to exclusive perks such as private messages, video chat and signed merchandise.
Selah, which means “break” in Hebrew, is a true giant of the Christian music genre, with 4 million albums sold and 10 Gospel Music Association Dove Awards in over two decades of music.
Enter my story is the trio’s sixteenth album and the first on their own record label 3Cre8tive, from which the tokens take their name.
At launch, fans will be able to spend $ 200 of 3CR8 tokens for a 10-minute live video call with a band member, $ 150 of tokens on a personalized greeting, or $ 20 to purchase a signed album on compact disc.
While the 3CR8 token is designed to promote fan engagement, Selah understands that cryptocurrency is more than just a marketing tool, as singer Todd Smith explained:
“I grew up in Congo, Africa, where my family founded the Laban Bible Institute and started a medical dispensary, a women’s literacy program and a far-reaching radio station. Having witnessed firsthand the devastating devastation of economic inequality, cryptocurrency and its ability to remove suppressive financial barriers globally is electrifying. “
Rally is an open platform that allows creators to launch their own minted cryptocurrencies on a private Ethereum sidechain. The price and supply for each “creator coin” is determined by a token bond curve, meaning that the more coins there are, the more expensive those coins become.
Coining a social token costs nothing to the creator, and using a private sidechain allows the platform to implement features like fiat ramps.
Rally Mahesh co-founder Vellanki told Cointelegraph that the vast majority of creators and fans don’t use encryption at all, so this solution simplifies the onboarding process to help bring more users into encryption:
“There will be a small minority of cryo-native users who will want to mint their ERC-20 token directly on Ethereum so that it is the ultimate in confidence and they can experiment with complete control, but this is not Rally’s target market.” .
Fans can purchase a creator’s coin with credit or debit cards or cryptocurrency. Tokens can be redeemed for creator-themed products and experiences, or for the USD Coin (USDC) stablecoin.
Selah claims to be the first Christian musician to launch his own cryptocurrency.
However, while the potential to expose a new range of music fans to cryptocurrency is always welcome, Selah still has a long way to go if he is to beat Akon.
The US-Senegalese musician and rapper, who attributes his success to his Muslim faith, has also launched his own cryptocurrency. Although, rather than personal goods and messages, Akoin will be used to power the futuristic Akon City under development in Senegal.
