Editor's note: This article has been updated with information about the sale provided by Nifty Gateway.
Lil Yachty, the Grammy-nominated rapper who today sold $375,000 worth of Yachty Tokens, his new cryptocurrency, in an ICOICO, has teased his 5.2 million Twitter followers with the prospect of limited edition crypto art.
Yachty, real name Miles McCollum, tweeted an animation of a Yachty coin, the new cryptocurrency that Yachty launched with social money platform Fyooz, to the soundtrack of one of his songs.
The 23-year-old rapper said he is working on a collaboration with the Winklevoss twins’ NFT arthouse platform, Nifty Gateway. He will sell the fruits of that project at 7 pm on December 15.
But up for sale will not be the Yachty coins sold in today’s ICO, but a new type of cryptocurrency called a “non-fungible token.” NFTs are unique cryptocurrencies that can’t be swapped for another; that makes them perfect for selling digital art.
Nifty Gateway, the Cameron and Tyler Winklevoss-owned platform hosting this sale, sells one-of-a-kind digital art tokens. Yachty is selling one NFT token, titled Yachty Coin, that bears the animation he tweeted today. The sale commences on December 15 at 7 pm. There will not be a minimum bid.
Lil Yachty, the 23 year old Grammy-nominated rapper, today sold $375,000 worth of $YACHTY tokens in a token sale.
Lil Yachty, who ran the token at the request of social money platform Fyooz, sold off 25,000 tokens, or 25% of the entire supply, at $15 each. The token sale exhausted its supply within 21 minutes and 41 seconds, Fyooz said today in a statement.
Fyooz split the money down the middle with Lil Yachty. Anyone could participate, so long as they weren't from certain jurisdictions, among...
Fyooz, a social money platform, pays Lil Yachty to promote the platform. Lil Yachty split the proceeds from the token sale down the middle with Fyooz.
For all my fans outside the US, I partnered w/ @fyooz_io to make history. My lawyer is making me disclose that I’m being paid 🤷♂️ If you want to buy access to me #YachtyCoin is coming soon only on the Fyooz App #fyzhttps://t.co/NsIQ3AGJBd
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