Post Malone, a rapper, is the latest celebrity to embrace nonfungible tokens. He promotes a major NFT project as well as a cryptocurrency company.
Malone’s latest collaboration with The Weeknd was a music video for “One Right Now”. He purchased an NFT from Bored Ape Yacht Club, (BAYC), which has one of the largest NFT collections in the world and 10,000 digital collectibles that live on the Ethereum blockchain.
The video shows Malone buying the NFT through MoonPay, a fintech startup that provides cryptocurrency payments infrastructure. After its first venture capital round, the firm plans to achieve a valuation of $3.4billion.
The music video was released on Monday and has been viewed over 5,000,000 times.
Malone also purchased two Bored Apes, for 160 Ether (ETH), ($682,000 in TikTok videos from MoonPay).
One video reflects the purchase price of the BAYC NFT 9039 for 85ETH ($362,000). It has more than 90,000 views as of this writing. Another video includes the NFT of the “One Right Now” music video, the BAYC NFT 961 which was purchased for 75 ETH (320,000).
Malone didn’t spend any money on the NFTs, but he did spend some time promoting the NFT series. The address that owns the Bored Apes NFTs in the OpenSea NFT Marketplace has previously received 175 Ethereum from MoonPay in two separate transactions. Malone received an additional 15 ETH ($64,000) and the amount was spent immediately on purchasing the BAYC NFTs from OpenSea.
Malone’s address has been verified on Etherscan. He then continued to make OpenSea purchases, adding more Ethereum from Coinbase last Wednesday.
Related: OpenSea volumes go wild as collectors pour back into Bored Ape yacht club NFTs
Yuga Labs founded Bored Ape Yacht Club in April 2021. It is one of the most popular NFT projects and has reportedly made over $1 billion in trading in its first year. BAYC, after Mutant Ape Yacht Club (and Axie Infinity) is the third-largest NFT collection in the world at the time of writing. According to CryptoSlam data, BAYC’s daily trading volume is more than $12.6 million at the time of writing.
BAYC is gaining popularity in the music industry. Projects like Kingship, a digital metaverse band, plan to use four NFTs from this collection. They are inspired by Gorillaz, a popular cartoon group.
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