Rapper Post Malone is the latest celebrity switching to non-fungible tokens (NFT) by sponsoring a large NFT project and cryptocurrency company.
In his most recent collaboration with The Weeknd, a music video for “One Right Now” Malone bought an NFT from the Bored Ape Yacht Club (BAYC), one of the world’s largest NFT collections with 10,000 unique digital collectibles living on the Ethereum blockchain.
In the video, Malone is buying the NFT through MoonPay, a fintech startup that focuses on providing a payment infrastructure for cryptocurrencies. The company reportedly plans to reach a valuation of $ 3.4 billion after conducting its very first venture capital round.
The music video released on Monday has garnered over 5 million views since then.
Aside from the music video, Malone bought two Bored Apes for a total of 160 Ether (ETH) ($ 682,000) in TikTok videos from MoonPay.
One of the videos reflects the purchase of the BAYC NFT # 9039 for 85 ETH ($ 362,000) and has over 90,000 views at the time of writing. Another includes the NFT from the current “One Right Now” Music video, the BAYC NFT # 961, which was purchased for 75 ETH ($ 320,000).
Malone didn’t spend his own money buying the NFTs and apparently did something to promote the NFT series. The address that the two Bored Apes NFTs have on the OpenSea NFT marketplace previously received 175 ETH from MoonPay in two separate transactions. The amount was immediately spent on buying the BAYC NFTs on OpenSea, leaving Malone with an additional 15 ETH ($ 64,000).
Malone’s address, already verified on Etherscan, then continued to make purchases on OpenSea, adding more ETH from Coinbase last week.
Related: OpenSea volumes turn to bananas as collectors pile up again in Bored Ape Yacht Club NFTs
Founded by Yuga Labs in April 2021, Bored Ape Yacht Club is one of the most successful NFT projects, having reportedly amassed over $ 1 billion in trading volume since its inception. At the time of writing, BAYC is the third largest NFT collection in the world after the Mutant Ape Yacht Club and Axie Infinity. At the time of writing, BAYC has a daily trading volume of over $ 12.6 million, according to CryptoSlam.
BAYC has grown in popularity in the music industry lately, with projects like metaverse digital band Kingship planning to perform with four NFTs from the collection, inspired by popular cartoon band Gorillaz.