NFT

Music Star Kanye West Shuts Down NFT Hype

Music Star Kanye West Shuts Down NFT Hype

  • Billionaire music star Kanye West has revealed that he has no interest in NFT and the hype surrounding the digital market
  • West wrote on Instagram that he would rather invest in real-life items like food, clothe, and shelter
  • Monthly trading volume of NFTs exceeded $6 billion in January, setting a new all-time high record

Though many celebrities such as Eminem, Justin Bieber, and Neymar have cashed in on the hype surrounding Nonfungible tokens (NFTs), Kanye West has stated that he isn’t interested in the digital market for now.
In a post that was sent out to his 10.5 million followers on Instagram yesterday, Ye asked them to stop asking him to do NFTs as he is more interested “For now”.

Instead, the rapper has revealed that he wants to make music, products, and other items for the real world.
Kanye West’s post included an image of a hand-written note that states that his focus is on real-life items such as “real food, real clothes, and real shelter”.
NFT are trading as valuable collectibles and many have been sold for millions of dollars between last year and this.

Kanye west

As the demand exploded in 2021, the market has pulled in investment from notable artists like Justin Bieber, Eminem, DJ Khaled.
Big-name athletes like Tom Brady, Neymar, and John Terry have also bought into the hype of the digital assets.
The digital exchange space has also attracted the attention of business giants like Facebook and Walmart as they have disclosed plans to join the NFT world.

OpenSea

The monthly trading volume for NFTs exceeded $6 billion in January with more than $3.5 billion of the total coming from OpenSea.

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