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

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.”

$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?”

The post Just-In: Rapper Ja Rule Enters NFT Mania, Auctions Fyre Festival Artwork as NFT appeared first on Coingape.