GRAMATIK creates cryptocurrency with His Intellectual Property
Gramatik had his intellectual property tokenized in Zurich on Nov 9th. The token launch allows investors to purchase GRMTK tokens that represent his Intellectual Property.
GRMTK operates similar to a stock or cryptocurrency and is secured using blockchain technology. The GRMTK token consists of all of the intellectual property owned by Gramatik. An investor who purchases a token is entitled to a share in the revenue that Gramatick’s music produces.
What is blockchain
A blockchain is a digital ledger in which transactions are recorded chronologically and publicly. It creates a digital record of who owns what and it records every transaction that has ever occurred within it. Each transaction gets put into a block. Once someone says that block is valid and correct, it’s added to a chain that is protected by sophisticated cryptography: No one can change the chain after a transaction has been entered. In this manner, it makes and preserves truths, and generates trust.
Gramatica raised $2.48 million and sold 25% of his tokens in under 24 hours. That brings the total value of the token and GRMTK ecosystem to $9 million. Rights and royalties are attributed to token holders within decentralized applications by Singular DTV.
A packed crowd at X-TRA in Zurich witnessed the moment that Gramatik, alongside SingularDTV, launched the GRMTK token.
Gramatik made the following statement regarding the GRMTK token:
GRMTK isn’t just a cryptocurrency, it’s much more than that, now my audience can share in my inspiration and success by also owning the rights and royalties of my music and anything I create and distribute on my upcoming channel. If you hold 100 GRMTK tokens, then you own 100 tokens worth of the rights and royalties of the music and projects I create.
Embedded in the GRMTK token is not only the rights and royalties of my creations, but the ideals and philosophy of freedom and liberty for all artists, for all people. This is a movement of not only art, but of the mind and of the spirit.