Money Man and EMPIRE founder Ghazi revealed Tuesday that they’ve executed the first-ever record label advance in Bitcoin.
On Instagram, Ghazi posted a screen recording of him sending Money Man 14.72303252 BTC which came out to $999.959.22. In a follow-up post, Ghazi and Money Man celebrated the deal on a private jet where Money Man claimed they were “going crazy this year.” Money Man’s deal with EMPIRE arrives ahead of the rapper’s Blockchain album, which is scheduled to drop Friday, Nov. 12. Scroll above to view Ghazi’s screen recording.
Money Man has 5.4 million monthly listeners on Spotify.
In 2018, Money Man – a cryptocurrency investor as well as a rapper – bought himself out of his previous record label contract through his earnings from early investments in Bitcoin. Shami, who spoke alongside Money Man on the panel Pay Me In Bitcoin at this year’s Bitcoin Conference, has partnered with the rapper using this payment model. The Bitcoin advance ties in neatly to Money Man’s new single, Blockchain. The album of the same name drops on Friday.