Rapper Post Malone put 160 ETH into a new crypto fintech firm called MoonPay in order to acquire two Bored Ape Yacht Club NFTs.
The latest celebrity to adopt nonfungible tokens is rapper Post Malone, who has promoted a large NFT project and a cryptocurrency firm.
Malone teamed up with The Weeknd for their most recent collaboration, a music video for “One Right Now.” He bought an NFT from Bored Ape Yacht Club (BAYC), one of the world’s largest NFT collections with 10,000 distinct digital collectibles living on the Ethereum blockchain.
In the video, Malone purchases the NFT through MoonPay, a fintech firm that specializes in building blockchain crypto currency payment systems. After conducting its first-ever venture capital round, the company is expected to be valued at $3.4 billion shortly after.
The song’s music video, which was released on Monday and has since amassed over 5 million views, is now available.
In addition to the music video, Malone spent 160 Ether (ETH) ($682,000) on two Bored Apes in MoonPay TikTok videos.
One of the videos shows the purchase of the BAYC NFT #9039 for $362,000 and has over 90,000 views as of this writing. The “One Right Now” song and music video also has another NFT in it, the BAYC NFT #961, which was purchased for 75 ETH ($320,000) in the music video.
The NFTs were not purchased by Malone with his own money; instead, he appears to have earned some money through the franchise by promoting it. The address that owns the two Bored Apes NFTs on the OpenSea NFT marketplace previously received 175 ETH in two separate transactions from MoonPay. The rest of the money was used to purchase BAYC NFTs on OpenSea, leaving Malone with an extra 15 ETH ($64,000).
According to Etherscan, ‘Malone’s address,’ which has already been confirmed, then made purchases on OpenSea, gaining more ETH from Coinbase last week.
Bored Ape Yacht Club, founded by Yuga Labs in April 2021, is one of the most successful NFT projects, having allegedly amassed more than $1 billion in trading since inception. BAYC is the world’s third-largest NFT collection, after Mutant Ape Yacht Club and Axie Infinity, as of writing. BAYC has over $12.6 million in daily trading volumes, according to data from CryptoSlam.
The digital metaverse band Kingship, for example, is planning to utilize four NFTs from the collection in its music. The Gorillaz-inspired project will take inspiration from popular cartoon band Kingship and perform utilizing four NFTs from the collection.
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