Fans Create World’s First Digital Currency for Chinese Boyband Who Label It a Scam

Fans Create World’s First Digital Currency for Chinese Boyband Who Label It a Scam

Liao Shumin

Date: Mon, 02/12/2018 - 16:18 / source:Yicai
Fans Create World’s First Digital Currency for Chinese Boyband Who Label It a Scam
Fans Create World’s First Digital Currency for Chinese Boyband Who Label It a Scam

(Yicai Global) Feb.12 -- Fans of a Chinese teen boy band have created the world’s first blockchain tokens dedicated to a pop group, despite receiving no official backing from the band’s agency.

Named TFBC after the three-boy band TFBoys, the tokens can be used online and in the real world to buy and sell all manner of items connected with TFBoys, including concert tickets, according to information on its official website.

But the band’s members have distanced themselves from the project, calling TFBC a scam and advising fans not to get caught up in it. TFBC’s official website was inaccessible as of Feb. 12.

TFBC, which uses Ethereum technology, aims to create a perpetual ledger of activities for TFBoys’ devotees. Its creators aim to engage with fans through the platform and organize activities like live streaming, fans quiz and offline activities.

The fansite issued 59,993,157 TFBCs, a figure calculated by adding up the birth dates of each of the three members. In spite of the lack of enthusiasm among the band, the three members were the token’s first recipients, each receiving 20 percent of the total issued, TFBC’s creators said.

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Keywords: TFboys, Fans, BLOCKCHAIN