Will you do some of your holiday shopping with Cryptocurrency this year?
A group of 35 world-famous music artists announced a new online shopping initiative this morning, named Project Coral Reef that will allow fans to purchase gifts and merchandise from these artists using Monero. This project was founded by entrepreneur Naveen Jain and Monero lead Riccardo “Fluffypony” Spagni and have added well-known artists such as Mariah Carey, Kaskade, Fall Out Boy, Alice Cooper, G-Eazy, Toby Keith, Motorhead, Dolly Parton and Weezer.
This initiative will allow fans to buy these artists albums and their merchandise at a discounted cost, the company has added an additional 15 percent discount to Mariah Carey’s store as well as Motorhead, Dixie Chicks, and Alice Cooper.
There are two companies spearheading merchandising, Manhead Merchandise and Global Merchandise, both companies provide services to a plethora of musicians. Globee, whose founder and CEO is Spagni, will be dealing with the cryptocurrency payment side of the project.
Mainstream rapper G-Eazy spoke on the initiative stating:
“As cryptocurrencies become more popular, it’s important that my fans have choices when it comes to how they buy my songs and merchandise. 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.”
This breaking news just before the big holiday season gives the cryptocurrency a large mainstream push, as last year it was one of the top performers in the cryptocurrency space.
As of early this morning, XMR is selling at around $240 with its market cap sitting at just above $3.8 billion, as per CoinMarketCap.
With Monero’s privacy features, the group behind Project Coral reef are confident that these heightened privacy features will attract more mainstream users.
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