Tokenizations are becoming more common and popular with celebrities on a global level. Users can hold the token in a digital wallet and spend, sell or trade the token for promotions offered by Yachty himself or for its market value.
Atlanta-based rapper, Lil Yachty launched his token (a cryptocurrency), which can be used for exclusive access to the performer on December 10th, 2020, it features are yet to be released from Lil Yachty.
The token sale sold out in 21 minutes with 25,000 units sold bringing in a revenue of $375,000 USD. Due to high demand, a second batch of tokens was released on December 11th 2020 at 7 am EST with Fyooz.io.
While Yachty was commenting on the token launch, he said, “I’m still new and learning about the crypto world, but I can tell you I’m partnering up with some very smart people to give my fans some dope experiences.”
However, the slogan #wearesocialmoney from Fyooz is a key element to the evolution of digital assets and tapping into the social economy which the world has not done until now. Other hashtags from Fyooz include #investinwhatyoulove which make clear the ability to connect fans with artists, performers, movements and other concepts for tokenization.
Yachty released his album Lil Boat 3.5 earlier this year in May 2020 with hit songs, “Flex up” and “Just How I’m Feelin’”. He was also nominated for a Grammy Award in 2017 for best rap/sung performance by D.R.A.M featuring Yachty with the song “broccoli”.
In addition, Lil Yachty will also be launching an NFT which means Non-fungible Token or a collectable cryptocurrency with Tyler Winklevoss, Cameron Winklevoss and Gemini Exchange on December 15th 2020 at 7 pm EST on Nifty Gateway. Fans are finally getting new ways to explore and connect with the things they love and become VIP’s to artists and other celebrities.
Fyooz has mentioned they are in talks with other artists and performers soon to launch their own tokens but were unable to disclose who the next celebrity would be.
“At Fyooz, we were asking ourselves, “What is after social media?” and right now people sacrificing their time to give attention to artists, which is very valuable. So we are delivering a one to one connection to personalities and movements through our tokens”, according to Fyooz partner, Pipo Semmler.
A live press release was made with Fyooz partner Pipo Semmler, Gokhshtein Media team members, David Gokhshtein and Ross Macdonald to discuss the Yachty token and Fyooz platform, which can be viewed here: