Ja Rule Hops on the NFT Bandwagon and Sells Fyre Festival Artwork for $122,000
Probably the only thing related to Fyre Festival that made someone money rather than them losing it, is the latest non-fungible tokens NFT sale Ja Rule made of a Fyre Festival artwork which fetched $122,000.
Not one to miss out, Ja Rule is one of the latest artists to hop on to the NFT bandwagon. The 48”x 60” Fyre Festival oil-painted poster which once hung in the company’s office is one of the first physical artwork to enter this space dominated primarily by the digital space.
The artwork was created originally by South Carolina-born Tripp Derrick Barnes and commissioned by Ja himself. After the company’s NYC office was shuttered, the piece hung in Ja’s mancave at his New Jersey home.
— Ja Rule (@jarule) March 24, 2021
The NFT was sold on Flipkick, which plans to sell physical and digital art as non-fungible tokens, or NFTs, which are generally digital assets that operate as a type of collector’s item and can’t be duplicated. This was their first sale on the platform.
Speaking to TMZ about why he wanted to sell the piece and ended by selling it for lower than his original asking price of $600k, he said he’s a “vibes kind of guy” and felt he needed to get it out of his house “so the fresh energy could grow.” He went on to say, “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.”
His eventual consensus on the matter was “F*** this painting. I just wanted that energy out.” he told Forbes. In the end, Ja says he didn’t care how much the painting sold for because “it was not about the money.”
Follow meMelody SiganporiaContent Writer | EDM News & Editorials at T.H.E – Music EssentialsTechie by day, rager by night. Full-time Expert at Apple and part-time writer with multiple EDM publications based in the Big Apple. My interest in the dance music scene began about 10 years ago and there was no looking back from there. I got involved with it on a professional level in 2013-2014 when I joined the core team for a leading music festival in India. Managing the entire Digital Marketing piece for them in addition to the Public Relations aspect, helped me gain insights into the industry. Upon moving to NYC a few years after, I decided to combine my passion for the music along with my flare with words and began contributing to EDM publications as a freelance writer. Follow meLatest posts by Melody Siganporia (see all)