In brief

  • Post Malone's manager, Dre London, is getting into crypto.
  • He's advising Fyooz, a social money platform.
  • Fyooz recently paid rapper Lil Yachty for the honor of joining.

Social money platform Fyooz has bagged another high-profile music legend: Dre London, the manager for Grammy-nominated rapper Post Malone and rapper Tyga. London will join Fyooz as an advisor.

“With my vision, I hope to forge a new access asset class that can revolutionize the whole entertainment business. As awful as the pandemic has been, we have to find new innovative ways to engage our fans again,” said London in a statement. 

London, born Andre Jackson, is the second high profile person to join after rapper Lil Yachty joined earlier this month. Lil Yachty clarified in a tweet that Fyooz had paid him for the partnership. 

Decrypt has asked Fyooz how Dre London, who has 165,000 followers on Instagram, will be compensated for the role, and also what it entails, and will update this article with any response.

Fyooz is a platform that mints cryptocurrencies in the name of some musician or athlete or influencer who joins its platform. Its direct competitor is Roll, a social money platform co-founded by ex-Coindesk analyst Bradley Miles. 

London finds in Fyooz the prospect of eking out new value from the music industry, which has been hit hard by the rise of streaming platforms, which pay artists a small cut of the profits, and the pandemic, which cancelled lucrative international tours.