Five Hip Hop Artists Getting into the NFT Game
If you’ve spent a decent amount of time on the internet over the last few years, you’ve probably seen some talk about NFTs here and there. Although NFTs have become more common, a lot of people still don’t understand what they are. According to Forbes, NFT which stands for non-fungible token, “is a digital asset that represents real-world objects like art, music, in-game items and videos. They are bought and sold online, frequently with cryptocurrency, and they are generally encoded with the same underlying software as many cryptos.” To put it simply, NFTs can be things like memes and videos and people are willing to spend lots of money to get their hands on one. Of course, you’re probably wondering why someone would want to buy something that millions of people have already seen on the internet.
The reality is that, in most cases, people are hoping that their NFT will eventually increase in value. As a result, lots of hip-hop artists have decided to get into the NFT game, and a few of them have had some very serious success. Here are five rappers who are getting into the NFT game.
Jay-Z is easily one of the most successful businessmen in the entire music industry, so it’s probably not much of a surprise that he’s already getting in on the world of NFTs. In July of 2021, a piece of digital artwork commemorating the 25th anniversary of Jay-Z’s Reasonable Doubt sold at Sotheby’s for $139,000. The image, which is officially titled, “Heir to the Throne: An NFT in Celebration of Jay-Z’s Reasonable Doubt 25th Anniversary ” was created by artist Derrick Adams who has created several NFTs in the past. The piece will be made into physical prints. The proceeds from the same will go to the Shawn Carter Foundation and other charity organizations that Jay-Z supports.
2. Snoop Dogg
Snoop Dogg is another rapper who has a long history of also being a successful businessman. On top of that, he’s always been the kind of person that likes to stay ahead of the curve, so the fact that he’s already gotten into NFTs makes sense. In March 2021, Snoop revealed his plans to auction his NFT collection, “A Journey with the Dogg”. According to Market Screener, Snoop said, “I’ve seen the game change over the years from analog to digital and I’m always happier when the technology lets the fans get to connect with the artists. NFT’s are an amazing innovation and it is an honor to do my first drop with Crypto.com/NFT.” The collection sold via Crypto.com in April 2021 for more than $100,000.
3. Lil Yachty
Lil Yachty is only in his early 20s, but he’s already thinking about his future and NFTs are helping him do that. In December 2020, Yachty auctioned off his only NFT collection, the Yachty Coin which is a limited edition coin that included Yachty’s face and the Bitcoin logo. The NFT was designed by Glassface and it sold for $16,050.
4. Post Malone
Post Malone entered tehe NFT game in the fall of 2021 when he collaborated with Fyooz to offer people a chance to play in his Celebrity World Pong League. According to Decrypt, “The first drop for Post Malone will be the Celebrity World Pong League NFT. Those holding a sufficient quantity of FYZ NFTs—the native token of the Fyooz platform—will be airdropped new NFTs. These airdropped tokens will then enable them to enter the Celebrity World Pong League and play beer pong against Post Malone.” These tokens differ from other forms of cryptocurrency because they are unique and can only be held by one person at a time.
5. Azealia Banks
Throughout her career, Azealia Banks has found herself in a variety of unique situations, so it only makes sense that her introduction to NFT be unique as well. In March 2021, Azealia sold an audio sex tape of an encounter between her and her fiance, Ryder Ripps. She made 18,270.80 for the recording.
Bonus: A Tribe Called Quest
A Tribe Called Quest is arguably one of the most well-known groups in hip-hop history. Now they’ve become icons in the NFT game as well. The group made headlines in 2021 when they sold an NFT for royalties to some of their albums. As reported by Hip Hop DX, the listing said, “The winning bidder will collect royalties generated from sales, streaming, and sync fees for any of the included albums, as well as the individual singles, released by the group between 1990 to 1998.” The winning bid was placed by a man named Stephen F for $84,765.