While the monthly trading volume of non-fungible tokens (NFT) reached an all-time high of $6 billion in January, the American rapper, record producer, and fashion designer, Kanye West, gave clarity about him not being enthusiastic about joining the market for NFT. The rapper took to his Instagram handle to express his opinion to his 10.5 million followers, on 1 February 2022.
Despite the fact that many celebrities have invested in the pitch, the record producer does not seem to be interested in entering the digital art world just yet. In a robustly phrased handwritten post, he said,
“My focus is on building real products in the real world. Real food. Real clothes. Real shelter. Do not ask me to do a fucking NFT. Ask me later.”
While there had been speculations about Ye being engrossed in the digital collectibles, the rapper turned fashion designer seemed to bar any further conjectures through his Instagram post. He asked everyone to stop asking him to make NFTs. Ye asserted that he was not on the particular wave, yet. The rapper seemed to taunt the fact that these digital collectibles are only virtual and that they don’t exist in reality by stressing that he makes ‘music and products in the real world’.
Even though the aggressive post seems to have dismissed the idea of Kanye west joining the NFT experience, he leaves some hope for deliberation. At the end of the post, Ye wrote, “Ask me later,” which could mean that with time, the rapper might endorse non-fungible tokens in the future.
Celebrity endorsments in NFT market, a recent trend
There have been several celebrities like Paris Hilton, Snoop Dogg, Jake Paul, Eminem, founder of Def Jam Recordings Russell Simmons, and NFL player Tom Brady that have bought or expressed an interest in the market of digital collectibles.
Stars like the NBA legend, Stephen curry, and Model Emily Ratajkowski have made their own non-fungible tokens and launched them on Metaverses.
With big brands such as Nike, Crocs, Adidas, and Under Armour making progression into increasing their benefaction of NFTs, it doesn’t come as a surprise that the NFT market rose to a stunning high of $41 billion in 2021.