The artist, entrepreneur, and billionaire Ye (formerly known as Kanye West) is a big-time cryptocurrency enthusiast.
The man behind the “Yeezy” brand has repeatedly spoken in favor of cryptocurrencies, especially Bitcoin.
According to Mr. Ye, the fact that cryptocurrencies are decentralized currencies, meaning that crypto is not attached to any governments or financial corporations, means that they have the potential to truly liberate America.
In October 2020, West was promoting his Presidential campaign. During that time, the Libertarian candidate made an appearance on the “Joe Rogan’s podcast.
During the podcast West stated that he learned about cryptocurrencies in a conversation with venture capitalist Anthony Schiller, and Coinbase co-founder Fred Ehrsam.
“I was talking to my man Fred and my boy Anthony about crypto and bitcoin yesterday,” West told Joe Rogan. “just to be prepped for this conversation, and not about the specifics of alternate currencies,”
“Jack Dorsey decentralized Twitter two months before it really hit because he was talking to the bitcoin guys and these are guys that really have a perspective about what the true liberation of American and humanity will be.”
“The tech guys were able to use the new information highways and create the next frontier of our existence.”
Ye Used To Not Be a Fan of NFTs
Initially, the world-famous rapper was not a fan of the idea of non-fungible tokens.
On an Instagram post in January, West posted a picture disclosing what he thinks of NFTs.
“My focus is on building real products in the real world,” Mr. Ye’s Instagram post read. “Real food, real clothes, real shelter.”
“Don’t ask me to do a f****ing NFT.”
However, Ye appears to have changed his mind about the decentralized currency world.
In June, West filed 17 new trademark applications for his YEEZUS name. The application could mean that the former Kim Kardashian husband and former 2020 Presidential candidate is thinking of launching a new NFT line around his brand.
Kanye Once Sude a Cryptocurrency Created in his Name
Back in January 2014, a group of developers created a meme coin based on Kanye West. “Coinye West” was a cryptocurrency that had Kanye West’s face in the logo.
The developers created the cryptocurrency in an effort to make cryptocurrencies accessible for non-programmers. When interviewed at the time, its developers expressed their hope that people would utilize it to purchase concert tickets.
Coinye developers hoped to get on good terms with Kanye West, and potentially even have him on track for promotion of the currency, however, the tribute had the opposite effect on Ye.
Kanye West’s legal team issued a “cease and desist” letter relating to trademark infringements.
In response to the letter, the developers changed the currency’s name from “Coinye West” to simply “Coinye”.
That change was not enough for West, who continued to sue Coinye developers until the project was dead.
Coinye lived for less than a week. On January 14th, the developers admitted defeat when they changed Coinye’s website design to a plain text page that read “Coinye is dead. You win Kanye.”