American professional wrestler Maxwell Jacob Friedman, belonging to All Elite Wrestling, has launched his own cryptocurrency.
What Happened: Friedman announced the launch of $MJF, a creator coin, on Twitter on Thursday. The pro wrestler partnered with Rally Network, which is known to enable creators to launch their own cryptocurrencies on the Ethereum (CRYPTO: ETH) blockchain. The $MJF tokens will be swappable with Rally Network’s native ERC-20 token $RLY.
See Also: How to Buy Bitcoin
Bitcoin? Garbage. $MJF COIN? …
Better than you and you know it!
— Maxwell Jacob Friedman™️ (@The_MJF) June 17, 2021
“By masterfully creating my own coin, I’m giving you a way to be part of my personal economy,” Friedman said in a note to his fans. “I can’t think of anything smarter to be a part of, since I will go down as the greatest star who’s ever lived.”
Friedman maintained a disparaging tone throughout his message, perhaps for comical effect, and said buying his creator coins with the Rally Network should be easy “even for the dumbest of the dumb with a credit card.”
Why It Matters: Friedman described cryptocurrency as “the future” but, at the same, dubbed Bitcoin (CRYPTO: BTC) and Dogecoin (CRYPTO: DOGE) to be “garbage.”
The launch of Friedman’s token comes at a time when cryptocurrencies are seeing increased adoption as community currencies; creator tokens allow influencers to create their economies independent of other platforms.
Oregon-based rock band Portugal The Man has the most-traded coin on the Rally Network called PTM Coin. Other popular creator coins include Kevin Chou Coin, KSK Honda Coin, Allie Coin, and Gen.G Strike Coin.
Price Action: Rally token traded 2.3% higher at $0.6765 at press time on Friday.
Photo Courtesy: Scott Lesh on Wikimedia