Royal couple Prince Harry of Wales and Meghan Markle have parted with the norm of royal wedding gifts, accepting their very own Ethereum-based cryptocurrency.
The Royal Coin will be listed as ROYL, with 5o million tokens available and a target set to raise 100,000 ETH, approximately USD 40 million. Part of the money raised through the token sale will go to charitable causes.
Half is set to be spent on Crown & Country Magazine specializing in the royal family, with an en edition dedicated to the royal wedding. The other half will be donated to three charities reportedly chosen by Prince Harry himself.
The ROYL whitepaper lists Sentebale, the Invictus Games and the Royal Foundation as the charities of choice. The whitepaper states ”we intend to split the donations equally between these charities and feel that the participation of people globally in this mass gesture of goodwill would send a powerful message of humanity and unity in celebration of the Royal Wedding.”.
A decentralized wedding gift
The project is being promoted by Shahar Namer, CEO of ICO Rocket. Namer recently spoke to Digital Trends about the token, where he described it as the ”2018 way to celebrate great British pageantry”. He endorsed ROYL for being an innovative, modern way to celebrate the royal family while supporting a charitable cause.
ROYL is not trying to be the next Bitcoin, but it is trying to modernize the image of the royal couple while keeping with the tradition of pageantry. How successful the project will be, however, is difficult to say.
Prince Harry and Meghan frequently make the front page of British tabloids and newspapers, with the public generally having a good perspective of them.The question is raised though, of how large the community is that is willing, or will know how to take part in an initial coin offering (ICO) for the royal couple. It remains to be seen if an ICO for the royal couple is something that will appeal to younger generations that are more involved with cryptocurrency trading.
Nonetheless, as one of the most famous couples alive, Prince Harry and Meghan can presumably attract a large enough number of participants to raise the goal of USD 40 million, even with the many that will prefer to exercise more traditional forms of pageantry.