This Is Why Crypto's Hot: Rapper Mims to Promote Blockchain for Artists

Award-winning rapper Mims has become the latest musician to launch a blockchain company.

The artist has co-founded a project called RecordGram, which aims to help artists and producers connect to create music and that uses a blockchain to help facilitate royalty payments.

Using a token called "Tune," the system records artists' digital rights and automatically tracks royalties.

Mims has now revealed he will be talking about the project at the Crypto Influencer Summit this month, as well as perform at the event, according to statements.

The summit, which is part of New York's Blockchain Week and will occur on May 17, is co-sponsored by blockchain-based social media platform startups Cryptoinfluence.io and BOOSTO. Other notable speakers include Basic Attention Token founder Brendan Eich, who will discuss his project.

The tune token, which RecordGram licenses, was created to "Solve digital songwriter rights and royalty transparency issues for the music industry," the website says.

It stores the content created by artists using the platform on a blockchain.

Users can convert the tokens to RecordGram credits, which can then be used to either purchase clips or tip the artist.

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies.

CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.