Fyre Festival’s Founder Sold Logo Art As An NFT, And It Somehow Fetched $122K
Image via Netflix’s FYRE / IMDb
Fortune favors the bold, they say, and bold the organizers of the Fyre Festival were. Years after the catastrophic music festival, its co-founder, rapper Ja Rule, decided to sell an artwork of its logo. Amazingly, it fetched the cryptocurrency equivalent of US$122,000 in non-fungible token marketplace Flipkick.
Wanting to rid off traumatic memories of the event that inspired a Netflix series, Rule sold off a 48-by-60-inch oil painting by artist Tripp Derrick Barnes he had purchased for US$2,000.
He initially wanted to sell the piece at a profit for US$600,000 in cash but settled for US$122,000 in ETH.
While most NFTs are solely digital, Flipkick is also home to hybrid artworks with physical and digital aspects. This specific piece contains a digital ledger entry for the real-life version.
“I just wanted that energy out,” the rapper told Forbes. Apparently, the NFT is also accompanied by a note, reading, “F**k this painting.”
[via Creative Bloq and Forbes, images via various sources]
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