#Grammy-winning musician #Andre #Anjos became the latest artist to enter the cryptocurrency space. Anjos, better known by its stage name #RAC, has issued a new Ethereum ( ETH ) -based community token for artists .
The token is also called RAC. However, the music producer aims to free artists and content producers from the clutches of large-scale companies that are strangling their financial freedom.
RAC is giving back what it deserves to the community with its Ethereum based token
In the latest blog post of Zora, the platform from which the RAC token was issued, Andre stated that artists from different disciplines are clearly exploited by intermediary companies. He said it was part of the overbearing contracts that shattered the essence of their creativity, and it was time for "change".
The RAC stated that it is an ardent lover of the cryptocurrency ecosystem and that the crypto usage scenario goes far beyond the financial sphere. He also added that he believes RAC will nurture and shape this dream.
“… IT CAN CREATE A NEW PARADIGM FOR CREATIVE PROPERTY DIRECTLY BETWEEN ARTISTS AND COMMUNITIES. THIS NEW PARADIGM IS WHAT I WANT TO FOLLOW WITH RAC AND I WANT TO LEAVE IT IN THE HANDS OF MY EXISTING FANS, MY COMMUNITY. ”
How will RAC ensure artistic freedom?
“RAC is an Ethereum-based ERC20 token that must be earned,” said Andre in a tweet. Nobody can buy it, ”he said.
Who can earn RAC?
Only "fans who support the RAC project and want to build with it," according to the Grammy-winning artist.
He said that rewarding his "most loyal fans" with RAC would lead to an active community formation. "A community that can leverage cryptocurrency tokens to access various benefits and exclusive content."
Crypto enables communities to capture the value they create rather than make money by pre-existing platforms, and the RAC is an active experiment that pushes the boundaries of these principles.