One ICO Wants to Take Back Martin Shkreli’s Unreleased Wu-Tang Album
There is currently a new ICO that has stated they would like to take back the Wu-Tang album that Martin Shkreli notoriously bought up. The coin will be referred to as Wu-Tang Coin, whose launch hoped to raise somewhere in the neighborhood of $3 to $4 million dollars. Shkreli, a poorly liked business man who works in the Big Pharma industry bought the album for his own listening purposes and never released it to the public. This caused a lot of anger across the hip-hop music world.
Initial coin offerings have been around for a few years and have since seen some regulation come into play as they become more and more popular. ICOs have blown up during the year of 2017, which their amounts reaching higher than all traditional venture capitalist funding. Given that they are unregulated, it can sometimes lead to a sketchy market place.
The album known as Once Upon a Time in Shaolin, is supposedly going to bought by the cryptocurrency which Shkreli bought in 2015 for $2 million dollars. This came several months after the pharma kid became hated across the world for upping the price of a life saving drug by around 5,000%. Shkreli began to take on the role of the villain and refused to release the album. People began to dub the young entrepreneur as a “greedy little man” and a “snake.”
Will crowdfunding become a viable option to try and take the album back? The hope of the ICO is that the cryptocurrency will help to get the album released to the public but it does seem slightly unlikely.
With Shkreli enjoying the fame and evil persona he has put on, it does not seem likely that he will give up his million dollar possession.