NFT: Many celebrities have profited from selling non-fungible tokens (NFTs), a niche that generated record trading volume of more than $6 billion in January, according to CNBC. However, rapper Kanye West is not one of them.
In a post published on Monday (1st) on his Instagram profile, he sent a message to fans who, apparently, have frequently asked him about some type of investment in digital tokens. “Stop asking me to do NFTs, I won’t co-sign,” wrote the songwriter and record producer.
Following the message, the artist, who recently changed his stage name to Ye, said he makes music and products “for the real world”. The text is accompanied by an image where the musician uses stronger words in relation to technology (see below), but in the end it suggests that he may change his mind in the future.
It is worth noting that NFTs are digital assets that can represent ownership (not copyright) of music, art objects and many other things. Each of the tokens is tracked and verified on the blockchain, with some of them worth millions of dollars after being traded as rare collector’s items.
Against and in favor
Kanye West is against the NFTs, at least for now, following the same path taken by other figures in the pop world. One of them is actor Keanu Reeves, protagonist of the Matrix franchise, who treated technology as a joke, when asked about it during an interview last December.
On the other hand, several musicians have created digital products through encryption for their fans, such as Black Sabbath frontman Ozzy Osbourne and System of a Down frontman Serj Tankian. The remnants of Nirvana will also trade rare photos on NFTs, in an auction that takes place on February 20th.