Weilong music is being mined by a team of three people from China, a Crypto Coins spokesperson said.
The music is in the process of being distributed and is the first of its kind in the world, the spokesperson said in an email to CoinDesk.
The company plans to start mining in the next couple of weeks, the statement said.
Bitcoin and other cryptocurrencies have long been the preferred way for music to be made.
Weilongs popularity and success has allowed it to take a position at the forefront of new business models.
The song is being produced by the company’s chief financial officer, Liu Hu, and a second engineer from China.
Liu Hu said the music is not the first time weilongs team has made a coin.
We have worked on music since 2013.
We worked on some music, but in 2017, it was Bitcoin, he said.
We believe in the cryptocurrency ecosystem, and the music industry in particular, because it’s an area that we can work in.
He said WeilONG’s team has a long history in music production and is familiar with music production.
We work with some great artists, Liu said.
Liu declined to comment further on WeilSong’s status in the Bitcoin economy.