Music | December 3, 2021 2:22 pm

Megadeth Is Launching Its Own Cryptocurrency

Crypto sells... but who's buying?

James Lomenzo of Megadeth performs on stage at the Germania Insurance Amphitheater in Austin, Texas on August 20, 2021.
AFP via Getty Images

As cryptocurrency becomes more and more established, a growing number of musicians have embraced it as a way to get paid. It’s not the only way in which bands and solo artists have begun working with emerging technology — including launching their own NFTs. But why stop at accepting cryptocurrency when you can just launch your own? That seems to be the thinking behind the announcement of $MEGA coin, a cryptocurrency launched by long-running metal band Megadeth.

A new report at Consequence details the band’s new venture — and how it ties in with their existing fan club, Cyber Army. If you’re a Digital or Premium (the two paid tiers) member of the group in question, the band announced, you’ll be getting some $MEGA automatically — but you can also purchase it. Rally currently has the coins valued at $0.529.

Megadeth’s announcement of the crytocurrency went into more detail about what it will be used for. “By buying, holding, and transacting with $MEGA, fans will gain access to exclusives and premium benefits,” the band said via a statement on its website. “Cyber Army members that also hold $MEGA will unlock additional exclusives, access, and offers.”

The announcement also promised “access to exclusive content, special tour access, Q+A’s, hangouts with the band, and special items” for those who have purchased $MEGA. As investments go, it’s probably not the strangest metal-inspired one you could make — but then, we do live in a world where GWAR launched a successful line of NFTs earlier this year.