CT News : Monero's Got New Celeb Backing by Mariah Carey, G-Eazy, and Motorhead!

Bitcoin has made a huge climb from 2017 to Jan. 2018 moving from $1000 and peaking at about $20,000 before crashing back to earth. But, another thing to pay attention to is that many altcoins have done even better. Ethereum is one of them going from $10 to $1300+ between 2017 to Q1 2018. Next up to bat in a bid to become more mainstream is the privacy centered altcoin known as Monero.

The privacy-focused digital currency revealed Tuesday that it is providing a new online shopping initiative, enabling music fans to purchase merchandise from 45 artists, including Mariah Carey, Motorhead, G-Eazy, Fall Out Boy, and Toby Keith.

This is huge and is clearly a move to bring altcoins to the masses. A lot of people only vaguely know about cryptocurrency at the moment but with celebrities like these coming out to endorse it we should be prepared for a rocketship ride upwards to the clouds next year. Hold on to your tokens!

Monero’s Project Coral Reef initiative is a community-driven effort designed to bring more awareness to Monero’s secure and private system, reports Billboard.

Launched in partnership with payment processor GloBee, and Manhead Merchandise and Global Merchandising Services, both of which are music merchandising companies, the initiative will provide discounts to customers, including 15 percent from Carey’s store.

This is what G-Eazy had to say about Monero and cryptocurrencies in general:

'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 safest, most secure and most private cryptocurrencies, it’s one of the best options for my fans this holiday season.'

The news signals a significant moment for the ninth-placed digital currency. According to CoinMarketCap, the XMR token is currently trading at $236, with a market cap valued at $3.6 billion.

Given the fact that Monero is rapidly gaining more mainstream interest, in the last seven days its value has risen by 26.10 percent. And in the previous 24 hours it has increased by another 20.50 percent.

Although I do believe this push will help Monero to become a more mainstream currency I really don't see it becoming a competitor to the number one digital currency, bitcoin. In fact, it doesn't have to be. I say that because it does what it claims to do well, it is exchangable like money but also retains many privacy features that people have come to want and need.

Speaking about the potentials that the digital currency market holds, Riccardo ‘Fluffypony’ Spagni, Monero’s lead maintainer, said in a statement:

Cryptocurrencies are fast becoming more popular to make purchases, but not all currencies are created equal and not all are as private and secure as people think. Project Coral Reef is a very important step towards the mainstream adoption of Monero. For the first time, consumers around the world can use Monero to securely and privately buy their favorite artists’ music and merchandise.

It also makes it an interesting way for music fans to interact with their favorite artists, creating an interactive environment for all those concerned, while ensuring their privacy at the same time.

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Source:

Mariah Carey, G-Eazy, and Motorhead Now Accept Monero for Music Merchandise - Crypto Coins News

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