Cryptocurrency Monero has launched “Project Coral Reef,” an initiative that enables the use of the cryptocurrency to purchase music and merchandise at discounted prices from 35 major artists including G-Eazy, Dolly Parton, Ministry and Fall Out Boy this holiday season
Fans of 35 major artists including Weezer, Mariah Carey, rapper G-Eazy, Kaskade, Motorhead, Fall Out Boy and Toby Keith can now buy discounted music and merchandise using cryptocurrency Monero.
Monero is an open-source cryptocurrency launched in April 2014 that focuses on privacy, decentralization, and scalability. Unlike many cryptocurrencies that are derivatives of Bitcoin, Monero is a unique protocol. It was founded by Naveen Jain, a music industry veteran and serial entrepreneur, and Riccardo Spagni, lead maintainer of Monero.
Dubbed "Project Coral Reef," this holiday initiative is designed to increase awareness of Monero. Payment processor GloBee, music merchandising companies Global and Manhead and platinum-seller G-Eazy, along with several dozen other major recording artists, are all supporting the effort.
“As cryptocurrencies become more popular, it’s important that my fans have choices when it comes to how they buy my songs and merchandise,” said G-Eazy, the Billboard chart-topping rap star from Oakland, California. “Given Monero is one of the safest, most secure and most private cryptocurrencies, it’s one of the best options for my fans this holiday season - and just in time for my new album.”
"As someone on the front lines of the music merchandise business, I know how passionate fans are in supporting their favorite band or artist,” said Chris Cornell, Founder and CEO of Manhead Merchandise. “I also know how much they value keeping their financial information private. Giving fans the option to use their Monero to purchase awesome gear at our artists’ stores this holiday season is a win-win for our artists, and our fans’ right to privacy.”