Just-In: Rapper Ja Rule Enters NFT Mania, Auctions Fyre Festival Artwork as NFT

Achal Arya
March 17, 2021 Updated July 23, 2022
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Ja Rule NFT

Famous Rapper Ja Rule today announced that he is selling Fyre Festival’s corporate logo as a Non-Fungible token (NFT). The Fyre Festival artwork will be available for sale at FlipKick, a platform to sell part digital and part physical NFTs.

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Bidding for Fyre Festival NFT starts At $600,000

As per the reports the bidding for Ja Rule’s portrait will start on Tuesday at an starting price of $600,000. Ja Rule explained he wants to get rid of bad vibes and said,

“I just wanted that energy out,”

The portrait on sell is a 48-inch-by-60-inch oil-paint portrait of the Fyre Festival’s corporate logo that has hung in Ja Rule’s mansion in New Jersey since the company’s Manhattan headquarters closed several years ago. In exchange for selling his portrait Ja Rule is now a part owner in FlipKick and a part of its official head of artists.

Speaking about his interest in NFTs, Ja Rule said,

“I wasn’t too educated on them (NFTs), and I’m still learning a lot about it….I think people got a little bit tired of the regular stocks-and-bonds way of investing.”

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$26 Million Fraud, Story Behind Fyre Festival NFT

Fyre Festival was an event that promised attendees a luxurious time with extravagant accommodations and top musical performances. The event promoted by Ja Rule on his social media and co-founder Billy McFarland lured many attendees. In the end, the event turned to be nothing special, while co-founder Billy McFarland was sentenced a prison for a fraud of $26 Million, Ja Rule was cleared by a judge for any wrong doing.

For Ja Rule, the whole NFT craze is still somewhat a joke,

“It really feels like the new Roaring ’20s,” he says, booming out a laugh. “You know, for me, it’s like, ‘Out with the old,’ you know?”

 

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Achal Arya is a digital product designer and an entrepreneur. He did his masters degree in design from IIT Hyderabad and has a bachelors degree in Computer Science. He works in the Web3 domain and manages new developments at CoinGape. Follow him on X at @arya_achal or reach him at achal[at]coingape.com.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.