Rapper Write-up Malone is the latest celebrity switching to non-edible tokens (NFTs) by sponsoring a large NFT project and cryptocurrency company.
In its most recent collaboration with The Weeknd, an online music video for One now Malone bought an NFT from the Bored Ape Yacht Club (BAYC), one of the world’s largest NFT collections with 10,000 unique digital collectibles living on the Ethereum blockchain.
In the film, Malone is buying NFT through MoonPay, a fintech startup that focuses on providing a crypto payment infrastructure. The company reportedly plans to hit a valuation of $ 3.4 billion after the first round of venture capital.
The musical film, released on November 15, has received over 5 million views at the time of writing.
In addition to the music video, Malone bought two Bored Apes worth a total of 160 ETH ($ 682,000) in MoonPay’s TikTok video clips.
One of the video clips reflects the purchase of BAYC NFT # 9039 for 85 ETH ($ 362,000) and has over 90,000 views at the time of writing. Another includes NFT from reality One the same Music video clip, BAYC NFT # 961, bought for 75 ETH ($ 320,000).
Malone didn’t spend his own money buying the NFT and appears to have made some money promoting the NFT series. The address owns two NFT Bored Apes on the OpenSea NFT marketplace, having previously received 175 ETH from MoonPay in two separate transactions. The funds were immediately spent on buying BAYC NFT on OpenSea, leaving Malone with an additional 15 ETH ($ 64,000) left.
Malone’s address, verified on Etherscan, then kept buying on OpenSea, adding ETH from Coinbase last week.
Related: OpenSea episodes rise as collectors move to the NFT. of the Bored Ape Yacht Club
Founded by Yuga Labs in April 2021, Bored Ape Yacht Club is one of the most successful NFT projects that is believed to have amassed over $ 1 billion in transactions since its inception. At the time of writing, BAYC is the third largest collection of NFTs in the world after the Mutant Ape Yacht Club and Axie Infinity. At the time of writing, BAYC has a daily trading volume of over $ 12.6 million, according to CryptoSlam.
BAYC has been gaining popularity in the music industry lately, with projects like the digital metaverse band KINGSHIP planning to use four NFTs from the collection, inspired by the band Famous Cartoon Gorillaz.