A cryptocurrency firm known as Cream Capital who's co-founders include Wu Tang Clan's Ghostface Killah wish to raise 30 million in USD in an ICO.
In the ever exhausting and expansive world that is the "Initial Coin Offering" (aka: the ICO), there is a never ending supply of "great ideas" that deserve 30 million USD in cryptocurrency crowd sale funding. Nevertheless, as a life long Wu Tang Clan fan, as soon as I saw this, it peaked my interest.
The name of this coin is "CreamCoin", affectionately named so because of the Wu Tang Clan's smash 1994 hit, C.R.E.A.M. This an acronym meaning "cash rules everything around me" or in this new case, "CRYPTO rules everything around me".
The last time we heard about Wu Tang Clan and financial news in the same headline, it was when hated and infamous pharma-bro, Martin Shkreli bought the single copy of Wu Tang Clan's 2015 album, "Once Upon A Time In Shaolin." After placing the winning bid of 2 million dollars, Shkreli signed a legal agreement with the purchaser stating that the album cannot be commercially exploited until 2103, although it can be released for free or played during listening parties.
Shkreli shared the intro and part of two tracks after Donald Trump was elected president, after threatening to destroy the album. In 2017 Shkreli allegedly live streamed the album to YouTube after a verdict was reached in a criminal case against him. On September 6, 2017, Shkreli placed the album up for auction via eBay; it received 343 bids and sold for $1,025,100 USD. (*https://en.wikipedia.org/wiki/Once_Upon_a_Time_in_Shaolin)
Cream Capital has stated intentions of selling "Cream Dividend Tokens" ($CRM) in November, exchangeable for Ether. Their whitepaper is a scant one and a half pages long, and in my humble opinion, quite vague and generalized. If you wish to read it, check this link: https://creamcoin.com/whitepaper.html
It appears that their main business goal is to have a large stake in the business of operational cryptocurrency ATM's and has stated it already has them in operation in North Carolina. Their long-term goal being to have half of the worlds crypto-ATM market by 2020. Whether or not that goal is pie in the sky or totally achievable is yet to be determined but there is no shortage of competition in this ever growing new market.
In my opinion, as much as I love Wu Tang Clan, I don't think I'll be investing in this particular ICO. But to be fair, one of my favorite hashtags this month is #ICOfatigue so I am a bit partial to bearish ideals at this point. Maybe if he can spit some sick bars describing his company's goals, ideals, and strengths (and maybe something about stackin' mad coins and shit) I might give it a second look. #HODLlife2thamooninalambo!
