Popular American rapper pump Lil, best known for his five-time platinum-certified single “Gucci Gang” is the newest rapper to launch his own cryptocurrency. Called “pumpcoin”, the no-fun ticket (NFT) will launch sometime in 2021 as revealed by Fyooz, a virtual asset trading platform that also markets celebrities and entertainers as tradable tokens.
“The social money platform” as he calls himself, he will welcome ticket holders with an interesting live gaming episode of Call of Duty or NBA 2K21 with Lil Pump himself after the coin is listed on the platform. The press release comes just a week after yatchycoin, another ticket named after rapper Lilyatchy sold out in less than 22 minutes after being listed. Two-time billboarder Lil Yachty and a Grammy-nominated American rapper was the first artist to rake in $ 375,000 in ticket sales. The 23-year-old former rapper, like other “symbol artists” on the platform, will share unique live video experiences with ticket holders.
The concept of simplifying celebrities is centered around the value of the celebrity, which is the sole determinant of whether the ticket holders will sell a rise or decline in the value of a ticket. Should the celebrity brand become more successful and the demand for fame tickets rise at the same time, ticket holders are guaranteed to make a profit.
Lil Yachty and Lil Pump aren’t the only rappers to be involved in cryptocurrency lately. Four-time Grammy-nominated rapper Megan the Stallion, popularly known as “the hot girl trainer”, recently made a spectacular entrance into the crypto-landscape with $ 1 million Bitcoin donations, courtesy of the rapper’s new partnership with the giant digital Payment giant App.
Celebrity entry into the crypto world is not new to the community. Over the past few years, people like Akon, Floyd Mayweather, and DJ Khaled made headlines with their involvement with cryptocurrency. The former introduced a coin in his name called “Akoin”, while the latter two were in the ICO promotion, which later earned them legal payments, as revealed by the SEC which confirmed the ICO campaign had been fraudulent .
Some crypto-commentators had earlier noted that celebrities and public figures will play a significant role in promoting cryptocurrency adoption in 2021, and clearly, this is already in play. Although for older members of the community, crypto-famous campaigns may do little to influence their standpoints on crypto as they all have a good understanding of the relevance and core concepts of crypto, celebrity influence will still assist adoption for new entrants.