Kanye West is doubling down on his foray into cryptocurrency, confirming that followers will now find a way to use his “YZY” coin to buy live performance tickets and merchandise.
West launched the coin in August as half of a bigger monetary ecosystem he’s calling “YZY Money,” which additionally consists of Ye Pay and the YZY Card.
The rollout initially generated main buzz, with the token’s worth surging to greater than $3 billion earlier than tumbling to round $349 million. Its present market worth stays unclear.
Despite the rocky begin, West seems dedicated to pushing the challenge ahead. Over the weekend, screenshots of posts from the official YZY Money account on X, shared by the Instagram account Bars, confirmed the rapper saying new methods for followers to use the coin.
West revealed that the crypto will quickly be purchasable straight by way of Yeezy.com. He additionally advised a fan that they might use YZY coin to purchase tickets to his upcoming South Africa live performance. Additionally, his on-line store has begun accepting the token for merchandise purchases.
The transfer comes towards a backdrop of skepticism, as many celebrities have beforehand been criticized for attaching their names to “memecoins” and alleged pump-and-dump schemes, the place a small group drives up the value earlier than cashing out and leaving buyers at a loss. Critics voiced related issues when YZY coin debuted, however the challenge has managed to keep alive months after its preliminary dip.
For West, the coin is a component of a bigger push to create a self-sustaining monetary ecosystem round his model. “YZY Money” marks the newest in an extended line of unpredictable ventures for the Grammy winner, who has shifted through the years between music, vogue, politics, and tech.
Still, with cryptocurrency’s unstable observe file, it stays to be seen whether or not YZY coin could have endurance or fade out like so many different celebrity-backed tokens.
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