- Do you know the Wu Tang Clan?
No. Not even U-God.
- Do you know Martin Shkreli?
- How is this going to work?
We will convert all donated ether to USD and propose a purchase to the album's owner, Mr. Shkreli.
- Has Mr. Shkreli agreed to this?
No, not yet. We're working on contacting him.
- What if Mr. Shkreli doesn't go for this?
If we don't hear from Mr. Shkreli by July 1, 2018, all ether donations will be refunded to their original addresses (minus a deminimus amount to cover costs).
- What are the splits?
75% of all collected ether (above the cost of the gifts) will be bid for the album. 25% will be retained in the owning corporation, Rare Music LTD., a not-for-profit. This will help defray costs related to legal, escrow, technology, hosting and other expenses.
- I thought the Wu-Tang album couldn't be commercially released for another 86 years.
That's not a question.
Rare Music LTD. will own the album and will manage the album's release in both physical and online formats in a not-for-profit manner. The album will not be sold commercially.
- What is the fundraising goal?
Mr. Shkreli allegedly paid $2 million. On the eBay sales page he mentions he would accept $3.5 million for the album. So we'll go with that.
- What will my ether (Ethereum cryptocoin or "ETH") donation get me?
- Does Wu-Tang Coin have any underlying value?
- Why buy Wu-Tang Coin then?
Buying Wu-Tang Coin is an opportunity to donate and help fund the acquisition of the album by a non-profit corporation. If this doesn't happen, you will never hear the album, ever.
Holders of Wu-Tang Coin are entitled to free gifts after album acquisition as described in Gifts. These include invitations to exclusive listening parties, free high-quality digital downloads of the album, and other benefits.
- How many Wu-Tang Coin are there?
- How much is each Wu-Tang Coin?
0.0035 ETH, currently around one dollar USD.
- What if I miss the ICO?
If you miss the ICO you'll have to buy your Wu-Tang Coin in the secondary markets. We'll post information about that when the ICO ends.
- How do I redeem my gifts?
After the album is acquired, this site will provide a way for Wu-Tang Coin owners to redeem their free Gifts.
- Are Wu-Tang Coin transferable?
Yes, they are fully transferable. Give them away, sell them, trade them, or put them in the spokes of your bicycle. It's up to you!
- Will Rare Music LTD. ever make the album available for free?
The album will be made available on both paid and free streaming music services following a six-month amnesty period after the album's acquisition. This will give holders of Wu-Tang Coin time to enjoy the album before anyone else.
Licensing and other fees earned from the album's digital and physical copyrights will support Rare Music LTD's mission to bring scarce, unusual, and one-of-a-kind musical creations to the general public.
- Do you think your Wu-Tang sword can defeat me?
En garde. I'll let you try my Wu-Tang style.
- How do I keep track of developments in Wu-Tang Coin?