What Is An NFT? Here’s Why Kanye West Won’t Make Virtual Art
Don’t expect Kanye West to hop aboard the NFT bandwagon. In an Instagram post on Jan. 31, the multi-hyphenate artist said he wants no part of the latest celebrity craze. Instead, West said he’s focused on IRL commodities.
“My focus is on building real products in the real world. Real food, real clothes, real shelter. Do not ask me to do a f*cking NFT,” West said in a handwritten messaged.
In his caption, West made it clear he’s not budging in his opinion…at least not right now. He wrote, “Stop asking me to do NFTs. I’m not finna co-sign…for now I’m not on that wave. I make music and products in the real world.” Still, West indicated his stance on NFTs could change. He ended his letter saying, “Ask me later.”
West is just the latest celebrity to share his opinions on NFTs. If you’re just now getting acquainted with the NFTcraze, here’s everything to know.
What Is An NFT?
NFTs, or non-fungible tokens, have become a big part of celebrity culture. Billboard definesNFTs as a digital collectible that serves as its own proof of authenticity. The allure lies in the fact it is unique to the buyer. Generally, there is one only or a small quantity available. The value of NFTs increase or decrease based on their rarity and popularity. According to Twitter’s Help Center, proof (i.e. metadata) of NFT ownership is stored on the blockchain, which is a digital ledger housing various transactions. Twitter users can even update their icon image to that of an NFT they own through the app.
What Do Other Celebrities Have To Say About NFTs?
NME reports rapper Nas sold royalty rights to two songs as NFTs. Most recently, Bitcoin.comreported Justin Bieber purchased an NFT valued at an estimated $1.29 million.
There’s also Travis Barker. On Oct. 8, the Blink-182 drummer revealed on Twitter that he was “finally” into NFTs. “Thank you @trippysnft for making this sick custom piece for me,” he tweeted.
Others have been in the game for a while. In March of last year, Snoop Dogg announced his first NFT collection titled “A Journey with the Dogg.”
Musicians aren’t the only ones who have dabbled in the metaverse. Paris Hilton recently gave fellow celeb Jimmy Fallon advice on which NFT he should invest in while appearing on The Tonight Show. In June of last year, Lindsay Lohan also wrote a “guide” to NFTs for Interview magazine.
Reactions To West’s NFTs Post
West’s opinion about NFTs spurred a variety of responses. Not everyone agreed with his disinterested. “It’s not a wave Ye,” rapper Waka Flocka Flame commented below his post, according to Uproxx. Some fans weren’t convinced that West’s remarks would stand the test of time. “U will eventually tho,” one fan comment read. “Good projects take time.”
His post on NFTs arrived five days after the rapper announced his new album, Donda 2, will drop on Feb. 22. So some fans were simply happy to hear he’s more focused on making music than selling NFTs. “Now let’s get back to Donda 2>>>” one comment read.
It certainly sounds like West won’t be hopping on the NFT bandwagon anytime soon, but there was one part of his message that may give fans hope for the future. “Ask me later,” he signed his letter. Who knows, maybe one day his post slamming NFTs will become an NFT in itself.
This content was originally published here.