Popular American rock group Portugal. The Man announced releasing its social token "PTM coin" on the Ethereum-based Rally Network.
The group's followers can spend the token on selective music, video, and merchandise. The token holders will have the advantages of accessing various events, live stream parties, unshared compositions, and more. Fans can use the tokens via the digital distribution platform Discord.
The Grammy-winner group's lead singer John Gourley said the team really loves to connect with their audiences. After the global pandemic, the main ways to engage with fans were via digital platforms. Gourley finds crypto allows doing that.
Some of the group's longest supporters already received coins as a gift. The group said this will be continuous. Fan tokens gained great popularity in 2020. They are digital assets allowing voting and getting different rewards. Many artists, content creators, and sports stars have built their virtual blockchain-powered communities. Among them are Akon, Lil Pump, Lil Yachty, football clubs Barcelona, Juventus, PSG, and others.