Cryptocurrency Craze Hits Music Business

The Bitcoin hype perhaps slowed down a little bit with its value dropping considerably over the last couple of months. The cryptocurrencies however are still getting lots of attention, even in places where you would not expect it. The die-hard fan base of the Detroit based hip-hop group Insane Clown Posse can now trade, buy and sell with their own cryptocurrency called JuggaloCoin.

The fans of ICP call themselves Juggalos and the creator of this new coin, Papa Nutt, said that this coin was created to “keep the funds in the family,” and to promote the positive aspects of the Juggalo lifestyle. Its coin will also be used to support charity event and the promotion of the annual Juggalo Day on February 17.

The Juggalocoins are only meant for real Juggalos and outsiders are not welcome to use it. Juggalocoins can be bought by outsiders though, while real fans receive them for free.

The identity of Papa Nutt remains unknown, just like Bitcoin creator Satoshi Nakamoto. Whether or not the JuggaloCoin is a joke remains to be seen, but at least the Juggalos are doing things to keep their lifestyle and fandom alive. 

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