Post Malone, the rapper, is the latest celebrity to become involved with nonfungible tokens (NFTs) by endorsing a major NFT project and a cryptocurrency company.
Malone bought an NFT from Bored Ape Yacht Club (BAYC), one of the world’s largest NFT collections with 10,000 distinct digital treasures live on the Ethereum blockchain, for his most recent collaboration with The Weeknd, a music video for “One Right Now.”
Additionally, Malone purchases the NFT in the video using MoonPay, a fintech company that specialises in cryptocurrency payment infrastructure. After performing its first-ever venture financing round, the company is expected to achieve a valuation of $3.4 billion.
The music video, which was released on Monday, has received more than 5 million views since then.
Apart from the song video, Malone paid 160 Ether (ETH) ($682,000) for two Bored Apes in TikTok videos using MoonPay.
One of the films, which has over 90,000 views at the time of writing, represents the acquisition of the BAYC NFT #9039 for 85 ETH ($362,000). Another is the BAYC NFT #961. Which was purchased for 75 ETH ($320,000) from the genuine “One Right Now” music video.
He didn’t purchase it with his money but he appeared to profit from the promotion
Malone did not purchase the NFTs with his own money, but he did appear to profit from the series’ promotion. MoonPay has already sent 175 ETH to the account, which owns two Bored Apes NFTs on the OpenSea NFT marketplace. The funds were promptly used to purchase BAYC NFTs on OpenSea, leaving Malone with an additional 15 ETH ($64,000).
Malone’s address, which had previously been authenticated by Etherscan, proceeded to make purchases on OpenSea. Adding additional ETH from Coinbase the week before.
Bored Ape Yacht Club, founded by Yuga Labs in April 2021. It is one of the most successful NFT enterprises, apparently accumulating over $1 billion in trade since its debut. BAYC, after Mutant Ape Yacht Club and Axie Infinity, is the world’s third-largest NFT collection at the time of writing. According to CryptoSlam statistics, BAYC had over $12.6 million in daily trade volumes at the time of publishing.
The digital metaverse band Kingship plans to play utilising four NFTs from the collection. Drawing influence from iconic cartoon band Gorillaz.