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According to a piece at Decrypt , Metallica’s X page was hacked last year and they were used to promote a scam crypto token that many people believed to be an official Metallica offering. Even though this turned out to be a fake project, there could be an argument for metal bands releasing their own memecoins.

The memecoin market has blown up over the last year, with these tokens allowing people to get involved with projects that excite them. Metal bands that want to connect with modern fans could look to tap into the crypto industry in this way.

Memecoin Craze in Full Swing

The cryptocurrency market tends to operate over a four-year cycle. It has a prolonged bull market that gradually picks up steam over a few years, before a manic phase that leads to a blow off top and then a bear market that lasts around a year. During the last stage of the bull market, there’s always a lot of mainstream hype around cryptocurrencies, with retail investors coming in.

Every cycle, there’s something that catches the attention of the masses more than the reliable cryptocurrencies like Bitcoin. Last time, it was NFTs, which had so much hype around them that some metal acts even released their own. Ozzy Osbourne, for instance, released his own series of NFTs known as Cryptobatz . However, after the market started trending down again, NFT hype disappeared, and they’ve barely had any attention this time round.

In the current bull run, the focus has been on memecoins. These are tokens that anyone can make, and they are usually based on internet memes. It all started with Dogecoin, which is considered the original memecoin, and many others have arisen in its wake. A few famous names have even released their own memecoins- by doing this, it allows celebrity followers to buy directly into their brand. However, people should be aware that there are a lot of scams out there, and many of these memecoins are pump and dump schemes for the creators to profit from.

The Metallica incident is an example of the riskier side of memecoins, where things can go wrong if people don’t do thorough research before getting involved. The reason why the scam worked is because it wouldn’t be out of the question for Metallica to release a memecoin. In fact, it could be a great move for metal bands who want to show that they are up-to-date with modern society.

Other Modern Ways for Metal Fans to Connect

Memecoins are just one of many modern ways for metal bands to connect with their fans. For any acts seeking to capitalize on the current hype around cryptocurrency, though, they represent the best option. NFTs have gone quiet in recent times, so it would be best to wait for them to recover before jumping on them again.

With the streaming era in full swing, producing documentary series or movies is an excellent way for metal bands to get more attention. There are plenty of great offerings that other bands could seek to replicate, such as Alice Cooper’s Good to See You Again on Amazon Prime. Death by Metal is another good offering to check out on the platform.

The iGaming market is another modern area that metal bands could use to expand their reach. The online casino Betway has a few music-themed slots, with the Motorhead game among the best known for metal fans. The iconic title has added to the band’s legacy and has helped more people discover them for the first time. It wouldn’t be difficult for a metal band to follow in Motorhead’s footsteps and sign a deal with an iGaming studio to have an official game made.

Social media has been another great outlet for metal bands in the modern age. Metallica and many other huge names now have a presence on sites like Instagram and X , so it makes sense for smaller acts to follow suit.

There’s a strong argument for metal bands to develop their own memecoins as a marketing strategy to get more attention. However, there’s only going to be a short window for this to happen. The current bull market is nearing its peak and, when the bear market hits again, memecoins could fade into obscurity in the same way that NFTs did.