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  • Paul Menchaca

An ICO Has Just Been Launched For a Wu-Tang Coin Because Why Not

A pair of the most high-profile detractors of the cryptocurrency craze have recently dismissed bitcoin as "a fraud" (JPMorgan's Jamie Dimon) and "a bubble" (Bridgewater Associates' Ray Dalio).

So we're going to assume this bit of news won't do anything to change their minds: An ICO was launched on Monday for the Wu-Tang Coin, as Bloomberg reports, with the goal of raising between $3 million to $4 million. The purpose of the ICO is to buy and publicly release Once Upon a Time in Shaolin (pictured), the one-of-a kind album recorded by New York City hip-hop legends Wu-Tang Clan that was purchased by convicted fraudster Martin Shkreli for $2 million.

The coin offering was launched by Rare Music LTD, "whose mission is to release rare and one-of-a-kind music items to the public," according to its white paper for the Wu-Tang Coin.

Shkreli recently placed Once Upon a Time in Shaolin up for sale on Ebay, with bids starting at $100,000. According to his ad on Ebay, the album purportedly sold for just over $1 million.

Shkreli is currently jailed for placing a bounty on Hillary Clinton's hair. He is also awaiting sentencing for his fraud conviction.

Photo: Wu-Tang Coin

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