Rapper Ja Rule Makes A Killing After Selling A Painting As NFT!
Rapper Ja Rule Makes A Killing After Selling A Painting As NFT! Crypto-art is currently set for big business amid the ongoing non-fungible token (NFT) trading craze. Ja Rule joins the list as the latest high-profile celebrity to hop onto the bubble before it bursts. The rapper recently bragged of selling a painting of the Fyre Festival logo for over $120,000 (£88,500) on the Flipkick platform.
The logo was painted by Tripp Derrick Barnes for the New York office of the Company and Ja Rule managed to keep it after the disastrous festival weekend.
Speaking to Forbes, the rapper said that he made a decision to sell the oil painting of the disastrous festival’s logo which had all along been lying in the New York office because apparently he “just wanted that energy out”.
According to Consequence of Sound, the artwork came with a handwritten note from Ja Rule which read “F**k this painting”, and went up for auction on Tuesday (March 23) with a reserve price of $60,000 (£43,500).
The buyer, who prefers to remain anonymous, purchased the piece via Ja Rule’s new currency company FlipKick, which provides artists the ability to sell physical work by using NFT form.
“I heard about NFTs first maybe like, a couple of weeks ago,” Ja Rule told Forbes, explaining: “I wasn’t too educated on them, 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.”
The Fyre Festival was initially sold as a luxury music festival with Ja Rule and Blink-182 among the artists who were set to appear, only for the event to turn out to be an unmitigated disaster, as many music fans, who paid thousands to attend were left stranded without proper accommodation or amenities.
