In August, Kanye West launched the "YZY" crypto coin. The coin was just the first part of a greater initiative, which West has dubbed "YZY Money." It also includes Ye Pay and the YZY Card. The launch of the coin came with a surge in value, peaking at over $3 billion. A sharp decline left it at a value of $349 million. It is not clear what the coin is currently valued at. However, it seems that West is still trying to make it work.
In tweets caught by Instagram account bars, West, via the YZY Money X account, added some more information surrounding the coin. He announced plans to make it purchasable on Yeezy.com since the price is falling.
He told another fan that they could buy tickets to his upcoming show in South Africa with the crypto coin. Additionally, he made it possible to buy merch from his website with the currency.
Kanye West Crypto Coin
There's a history of celebrities and influencers getting involved in pump-and-dump/"memecoin" schemes, where the value of the coin is artificially inflated because of mass buying from a handful of particularly rich people. Because of that, those in the know did not have positive things to say following the new coins launch. But, it has seemingly not completely died off yet, so it will be interesting to see what comes next in that regard.
YZY Money is just the latest endeavor for Kanye West, who has a decades-long history of moving between different projects at a rapid pace. He seems to be interested in building his own ecosystem with the coin and other moves. However, crypto is a famously very volatile industry, so anything can happen with the latest new project.
