Ja Rule has sold a FYRE festival painting, originally listed at $600K, as an NFT, bringing in $122K for the digital item.
Right now, NFTs (aka non-fungible tokens) are one of the hottest trends in the digital space. NBA Top Shot is one of the biggest NFT platforms, selling digital NBA moments that resell for 6 figures in some cases. If you are confused, think of NBA trading cards from your childhood, but on your phone as a digital token instead of a physical card.
With NFTs, the buyer gets a unique digital code linked to the artwork or image. Some people are instantly getting rich, selling their past prints as NFTs that perhaps didn’t do well in the physical forms. According to TMZ, one person who came up and made some money from the NFT craze is Ja Rule, who milked the FYRE fest hype for another drop with a unique piece of artwork he owned.
The rapper who was tied to the dumpster fire of a festival sold the oil-paint portrait of the Fyre Festival logo for a cool $122k as a non-fungible token (NFT) — meaning the buyer just gets a one-of-a-kind digital code linked to the image. Ja originally wanted at least $600k for the physical painting, but a note Ja wrote — and included in the sale — shows his true feelings about the piece … “F*** this painting.”
The image is 48″ x 60″ and was commissioned by Ja himself and created by Tripp Derrick Barnes. It once hung in the company’s HQs in NYC before it was later moved to Ja’s man cave at his NJ home.
Ja claims he is selling this piece to help move on from the failed festival and it is not about the money, but somehow, he never gave it away previously. Even in 2021, the FYRE festival keeps getting attention and keeps making Ja Rule money. The failed concert may go down as one of the biggest finesses of all time.