Jay-Z bought $7m in tokens for a $100m-backed VR streaming platform

[crypto1010]

In June, one of the music industry’s most successful figures, Scooter Braun, joined a $30m funding round in Los Angeles-based virtual concerts startup Wave.

And last August 25, music streaming platform Napster was acquired in a $70m deal by UK-based virtual reality music company MelodyVR, which has staged VR concerts for the likes of Post Malone, John Legend and Khalid.

Today, another intriguing addition to this trend: Jay-Z’s music streaming service, TIDAL, has spent $7 million on tokens (‘SENSO Tokens’) issued by Sensorium Corporation.

Celebrities and other big name players in the music space are getting into crypto and this is a really good sign. Will this overall help wide-spread mass adoption?

Source

[timmmers]

Be careful, I do not know much about this VR platform, but I can tell you honestly that there were already tens of blockchain-based VR platforms and how it ends up? After the token sale, no one comes with a solution of how to interconnect VR and blockchain or its token. 

[BlinkInDie]

This definitely will, the fact that Jay-Z spent millions of his own money to buy that VR token proves that he's really into it.

It's also a good validator that he's a believer of the technology. He's well-connected to big celebrities and can be a good influence to them.

[ichsan ardi]

somehow it's doesn't mean always like u say, i just think probably its just profit,since he maybe seen a good opportunity from that platform.

[Lordhermes]

In the past years maybe before bull run in 2017, many start-up project continue using celebrities in hyping their project and bringing in investors.
I can still remember AVXchange using Taylor Swift but the project is dead today.
https://mobile.twitter.com/avxchange/status/1145984881454792709?
The most useful tools in the crypto space in avoiding following unconfirmed or faulty news about celebrities joining project/ investing in project is thorough research. These news may not be the exact official news from jayz and I advise investors to be careful when choosing projects.

[BlinkInDie]

In the past years maybe before bull run in 2017, many start-up project continue using celebrities in hyping their project and bringing in investors.
I can still remember AVXchange using Taylor Swift but the project is dead today.
https://mobile.twitter.com/avxchange/status/1145984881454792709?
The most useful tools in the crypto space in avoiding following unconfirmed or faulty news about celebrities joining project/ investing in project is thorough research. These news may not be the exact official news from jayz and I advise investors to be careful when choosing projects.

I remember the Mayweather news, but I agree that people should still do their own research prior to investing on any projects. I do think that this is different as Jay-Z spent millions of his own dollars. I'm not really sure though if he already started promoting it.

[batang_bitcoin]

A piece of news that says they've bought and invested in a token that's unpopular doesn't mean that it's actually good news. Do you remember when famous celebrities have endorsed an ICO before then it turns out the project was a scam?
It's possible for exposure and publicity so that this project will get the attention of investors. Still looking through the project before believing to the news that we've heard because it could be paid publicity stunt.

[militiariko]

I think a popular individual buying a a huge amount of a token does not neccessarily mean that the token is investment worthy, As a crpto investor, you need to master the act and the art of doing your research before buying any token. Don't buy tokens because a popular person buys. It is wrong trading and investment ethics.

[tippytoes]

I think a popular individual buying a a huge amount of a token does not neccessarily mean that the token is investment worthy, As a crpto investor, you need to master the act and the art of doing your research before buying any token. Don't buy tokens because a popular person buys. It is wrong trading and investment ethics.

Definitely true. Because they may create hype on the project because they invested a large sum of money. But you need to really do your own homework and check the viability of their plans. Because those projects, I haven't seen them really here to be successful in implementing their platform. If you are a responsible investor, you will do your own due diligence and investing just because a popular personality is behind it.

[marks1976]

somehow it's doesn't mean always like u say, i just think probably its just profit,since he maybe seen a good opportunity from that platform.

I don't think so and if you have been watching how almost all of projects that tried to build the VR streaming platforms have already failed to do it and we can make a conclusion of this idea is a very bag choice to invest in a company that will give nothing. We have seen so many times scam VR projects.

[nelson4lov]

I'd be careful with project like this that uses celebrities to create hype for their projects. It doesn't always end up well. If I remember correctly, we have had dozens of projects with celebrities like Lionel Messi, Floyd Mayweather, taylor swift etc. By the way, I'm glad to see celebrities talking about cryptocurrencies, particular bitcoin a lot on social media. Ot only means we're no longer far away from the long-awaited mass adoption. The VR space in crypto have haven't had much success, let's see how far this project goes and how much they can accomplished with that much funds.

[Jating]

This is like 2017 again, wherein there are big celebrities endorsing projects ICO's but most of them turn dead or being a fraud and it somewhat affected their images when it turn out to be scam.

Jay-Z is known to be entrepreneur though and he has a lot of money to burn, and it's understandable that he will invest on a token that is related to his work. But for us, him endorsing him doesn't really mean a thing, we should really investigate first before we can come out with the conclusion that this is a good token to invest with. So take everything with caution here and not just be influence by celebrities.