In the cryptocurrency world, people throw around the term “currency” for myriad questionable projects. But perhaps never has the word currency been used so loosely as it has with Royale Coin (ROYL).
Purpose of Royale Coin
In most people’s minds, currency is defined as medium of exchange and a store of value.
As a self-proclaimed “celebratory currency”, ROYL adopts a slightly different approach.
The world’s first Royal-themed cryptocurrency is raising money to celebrate the UK Royal Wedding between Prince Harry and Meghan Markle.
The money raised by Royale Coin will be allocated to three charities chosen by the couple – Sentebale, The Invictus Games, and The Royal Foundation.
The other half of the money raised will end up in the hands of the Crown and Country Magazine to help fund a “special edition” celebrating the Royal Wedding.
Traditional wisdom might suggest that this is simply a self-serving money-making scheme cloaked in the guise of charitable donation.
Thomas Mace-Archer-Mills, who devised the project, explains: “I wanted to create a new and modern way for the people of the world to feel a part of the Royal Wedding, whilst being able to provide an engaging outlet for interested parties to not only contribute to a decentralised wedding gift, but also appeal to their financial prowess in the creation of an investment mechanism such as ROYL coin.
Celebrity aesthetics doctor, Vincent Wong, also endorses the idea on the currency’s celebrity endorsements page.
“I love the concept of a celebratory currency as an investment mechanism. It is unique, sentimental and thoughtful all in one – I see it as the currency of joy, love and respect to the Royal Couple. It is amazing to see that the Crown and Country Magazine and the British Monarchist Society are harnessing modern, innovative and tactical ways to be a part of this very special moment.”
Future of Royale Coin
The Royale Coin had its initial coin offering, underwritten by ICO Rocket who said:
“As the exclusive advisers for the Royale Coin, we are excited to launch this unique fundraising, to honour the royal wedding, one of the most anticipated moments of the year.”
Mace-Archer Mills is enthusiastic about the potential of the Royal-themed token:
We will absolutely be building on the ROYL token and applying the blockchain technology to future Royal events such as weddings, births, jubilees, future Coronations and so on.