Ja Rule Mints Fyre Festival Oil Painting As NFT, Sells For $122,000

You’d think after four years we’d all be done hearing about Fyre Festival, but even after all this time, Ja Rule is still making headlines in connection to the “-gate” of horrible festivals.

In a sale finalized last week, Ja Rule auctioned off an NFT of an oil painting with Fyre Festival’s logo that ultimately sold for $122,000. NFTs have become a hot commodity in recent weeks, despite being around for much longer, as more and more high profile individuals have hopped on the trend. As such, much of an NFT’s value can be ascribed to the seller rather than the art (though this is not the case in every instance), so a price tag of over $100,000 for a painting of a logo of a debunked festival from one of its founders is not that surprising.

Writes Mixmag, “The buyer, who is currently remaining anonymous, receives the original painting, as well as a one-of-a-kind digital version linked to the Ethereum Blockchain.”

In an interview with TMZ, Ja Rule said: “When I first had it made, I was energized — I had embarked on a new business. But then it became a symbol of what could have been. For me, it’s done and over with.”

In addition to the monetary gain from selling the art on, Ja Rule has also been made a part owner of the platform, as well as its head of A&R.


via Mixmag