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Member of Heavy Metal's Big Four (not to be confused with the Big Four in accounting) Megadeth become first metal band I know of to "coin" their own...well, Crypto . At the time of writing each coin referred to as $MEGA, is worth approximately 0.345 USD. The history of the coin can be traced as far back as the beginning of October, 2021 achieving an all time high -valuation-wise- at 0.684 USD (about one month after its initial announcement on October 2nd) on November, 1st 2021. Upon announcement at the beginning of December via a tweet members of Megadeth's "Cyber-Army" received a certain amount of the Coin for free (making it Thrash-Metal's equivalent to Monopoly money where it not actually hedged to anything) and is no doubt the crypto equivalent to "Megadeth" money.
According to Megadeth's own website, "$MEGA Coin is the official cryptocurrency of Megadeth and their community." and "It’s recommended you hold at least 10 $MEGA to get access to exclusive content, special tour access, Q+A’s, hangouts with the band, and special items." According to a Loudwire Megadeth earned quite a profit due to their first auction involving an NFT. The auction then resulting in a bid for the 1 of 1 "Vic Rattlehead: Genesis" in the amount of 8.4 WETH ($18,703 USD at time of auction in April 2021). In my opinion Megadeth seem to have been spurred on to continue their foray into Crypto-ventures from this little taste of what is possible from minting in the NFT crypto world.
$MEGA was launched via , a creative Crypto Community allowing creators the ability to mint their own brand associated coins, thus launching their own "economy" via the mint which thusly becomes their own currency. Interestingly the valuation of Creator-Coins on the platform is not only based on USD but of course based on $RLY (Rally's own coin, I mean how could they not have their own coin as well...). Apparently, perhaps as a way to encourage users to sign up as well as increase the inherent valuation of $RLY itself, members of the community are distributed $RLY as rewards for purchasing Creator-specific Coins as well as using Creator-Coins to purchase NFTs, VIP Tickets, and other merchandise from the Creator's Coin page.
Thus Mega coin is also worth 0.914 $RLY. At the time of writing there are a total 2,437 "supporters" of $MEGA with a total of 9,509 transactions. Additionally $MEGA is backed by 254.9k $RLY which is equivalent to approximately $97.2k USD. With a total circulating supply of $MEGA at 601.3k these "social tokens" are an interesting development in the ever-changing world of Crypto and alternate economies. To purchase any of the NFTs for sale on this marketplace you of course need to first purchase the Creator's Coin as you can't use USD to directly purchase anything on the platform, unless you first exchange fiat for crypto.
Perhaps I'll explore this as a way to mint NFTs for my own musical alongside physical pressings. Hails to those reading and partaking in exploring the interesting Crypto world as Web 3.0 opens up the digital universe to deeper and more interesting levels of exploration and possibility.
The next edition will be on minting of Logos in the world of Metal and NFTs and perhaps an interview with a creator of NFT Logos or "words". This may be a two part series:
- Part One consisting of material of my interview with a creator.
- Part two following my experience minting my own band's logo, I am both an artist and learning how to navigate my musical career in the NFT and blockchain online Multi-verse.
Thy Infernal (in-crypto) Hails
-Riggor Mortis
