Ghostface Killah Co-founds a Cryptocurrency Company
Main page News, Cryptocurrency, ICO
Hot topic
Oct. 5, 2017
444 444

Rapper and prominent member of the Wu-Tang Clan Ghostface Killah has co-founded a cryptocurrency company called Cream Capital, Rolling Stone reports.

The company is looking to raise $30 million during its initial coin offering (ICO).

Ghostface Killah is the latest in a long line of celebrities — from Paris Hilton to Jamie Foxx — who have put their names behind ICOs and crypto ventures.

"I think the interest of celebrities is a bit of a double-edged sword," Brett Westbrook, chief executive at Cream Capital, told CNBC.

"Anything that puts cryptocurrencies in front of the eyes of everyday people is a great thing for the markets overall. On the other hand, I believe it's important that celebrities know the importance of their endorsements and understand the underlying principles of blockchain technology," he said.

The name of the firm was inspired in part by Wu-Tang Clan's hit "C.R.E.A.M." – which stands for "Cash Rules Everything Around Me."

Cream Capital will be selling off "Cream Dividend" tokens in November; these can be exchanged for Ethereum (ETH/USD). The virtual coins will also be integrated into debit cards that can be used in any store or other vendor that accepts card payments.

Read also:
Please describe the error