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Current Media Closes $36m Private Sale, Readies Airdrop

The Mark Cuban-backed, blockchain multimedia platform, Current Media is set to airdrop millions of dollars worth of free tokens, the company announced today. The CRNC token drop will be in lieu of the previously announced public token sale and targets a community that’s rapidly expanding, thanks to the USD 36 million the company raised in its recently closed private sale.

To date, more than 250,000 people have signed up to participate in Current’s token sale in the past two weeks, according to the company. Current also states that it received the equivalent of approximately USD 150 million in interest from backers looking to participate in the private sale.

“The amount of interest in our token sale has been nothing short of extraordinary,” Current co-founder and CEO Dan Novaes said, in a statement. “Current was designed for everyone, and our North Star is our community. We determined that this token distribution is the fairest way for everyone to meaningfully participate – independent of their location or background.”

Current, which counts digital media pioneer Mark Cuban among its initial investors, aims to address the fractured media-consumption landscape by bundling Spotify, YouTube, SoundCloud and other popular media networks into one platform. Users will not only have a more streamlined media-consumption experience, but they will also be rewarded for their daily music or video habits, said the company, in a statement. Rewards are given not only to customers for streaming preferred content through Current, but also to content creators and curators who are presented with CRNC when their work gains popularity. Everyone participating in Current is rewarded for referrals, stated the company.

Interested parties can still sign up to participate – and therefore be eligible for the free token distribution – by following Current on its Telegram channel at http://t.me/CurrentCRNC. The signup closes on Feb. 21.

image of Mark Cuban by Brian Solis. CC BY 2.0


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