GuShiio.com Original title: “Singer Kanye’s suspicion of issuing coins: Reverse attitude and suspected sale of account X. Is this another careful” harvest “?”
Original author: Fairy, ChainCatcher
Recently, from publicly resisting the Meme coin fraud scam, to being exposed to preparing YZY tokens, to being suspected of having sold the X account, Kanye West’s behavior is full of contradictions and doubts. Is he a pawn under the celebrity influence or a carefully planned manipulator? Is the fanatical speculation in the crypto market being pushed into a new “harvest” model?
This article will comprehensively sort out Kanye’s coin issuance controversy and uncover this mystery about traffic, capital and the encryption world.
Kanye West (now known as Ye, also known as Kanye) is a legendary figure who spans the boundaries of music, business and fashion. He has won 24 Grammy Awards and twice been selected as Time’s Top 100 People. His music has changed the entire hip-hop industry.
At its peak, Kanye West became the richest black man in the United States with a net worth of US$6.6 billion. In January, Eton Venture Services evaluated Ye’s music rights and exclusive ownership of the YEEZY trademark and confirmed that his net worth was still as high as $2.77 billion.
From refusing to cheat to ending up in person?
On February 8, Kanye West posted an article on the X platform that someone had proposed a “cooperation” to him: he would pay US$2 million to promote a Meme coin and use it to defraud his fan community. Kanye flatly refused and posted his chat history.
Later, Kanye further stated: “I will not issue tokens. I only make products and only do what I love and understand. I am too rich to do anything else. Tokens use hype to deceive fans, just like hyped sneaker culture.”
The incident was quickly exposed, and the popularity of discussions in the encryption community on the “embezzlement of celebrity X accounts to issue coins” fraud case increased sharply. Kanye was once regarded as a sober industry role model.
However, things began to turn around and become more and more confusing.
Last Friday, CoinDesk reported that Kanye was actually preparing his own crypto token, YZY. According to people familiar with the matter, Kanye will receive 70% of the token allocation plan, liquidity supply will account for 10%, and investors will account for 20%. YZY tokens will serve as the official currency of the Yeezy brand and can be used for website payments.
The inconsistent attitudes caused an uproar in the encryption community and aroused widespread doubts and criticism.
Confusion operations continue
While the YZY token controversy was brewing, Kanye West posted on the X platform: “All Ye-related Memes on the market are fake, and we will launch our own Meme coin next week.”
Kanye then posted multiple posts about cryptocurrencies, including one tweet suggesting that a token called “Swasticoin” would be launched. He tweeted: “I will first open my Swasticoin CA (contract address) to Jews and my relatives and friends.”
At the same time, Kanye began to frequently forward tweets from Binance founder Zhao Changpeng (CZ) and once paid attention to the CZ account. When the community speculated that he would issue coins on BNB Chain, he turned CZ to focus on Olaf Carlson-Wee, founder of Polychain Capital.
However, as of now, most of Kanye’s previously posted tweets have been deleted, leaving only 7 tweets and one tweet forwarding CZ content on his X page.
There are many doubts. Account X has been taken over?
Several crypto KOLs have questioned that Kanye West’s X account may have been sold, possibly involving the BarkMeta team that had run a crypto fraud project.
X user @doitbigchicago posted a post revealing that someone plans to launch Ye-related tokens and plans to release them on the Solana chain. Behind the project involved teams such as BarkMeta who had run fraud projects. They suspected of taking over Ye’s account and using its influence to promote tokens.Kanye may have sold the publishing rights to the X account for $20 million and received $17 million after deducting a 15% management fee.
Cryptographic KOL @lokithebird also provided a number of doubts as evidence:
· Kanye abnormally follows a “doginal” account
·Highly similar to BarkMeta in terms of using tweets emoticons
·Changes in the light and dark settings of Kanye account
In the early morning of this morning, Kanye issued a document denying that he had transferred or hosted his account to BarkMeta, saying that Bark was just a “random person who followed him before.” He emphasized that if a cryptocurrency project is launched in the future, it will be announced in a formal and clear manner.
Despite Kanye’s public clarifications, controversy continues over control of his account.
The human design collapses and is repeatedly “harvested”?
This is not the first time that Kanye has “cut off” users in the coin circle. In 2021, Kanye and his collaborators released several peripheral NFTs:
· Kanye West’s single “Can U Be/Forever Mitus” is sold as NFT
· Kanye West’s physical body armor and NFT sold for $50,000
However, in February 2022, Kanye suddenly stated on social media:“Don’t ask me to do NFT again.” He also claims to focus on real-world creations such as food and clothing.
But only three months later, he applied for Metaverse and NFT-related trademarks for his trendy brand Yeezus through his company, and even deleted previous negative comments about NFT.
Perhaps Kanye is such a capricious “businessman” who is ready for profit.
Kanye’s coin issue is increasingly like a carefully planned “open plot”-everyone knows that this may be a capital game that leverages traffic and influence, but there are still people who are willing to participate in it. Some people say that don’t go where everyone is fighting, and some people say that if there is traffic and volatility, there is room to make money.
Under the temptation of huge interests, celebrity coin issuance seems to have evolved into a mature industrial chain, like a “fast-selling” game: profits earned in the short term often come from fresh followers and their unconditional trust in celebrities. However, this model lacks long-term value support and is more like squeezing the fan economy.
We cannot foresee how many celebrities will join this wave of coin issuance in the future, nor can we accurately judge the success or failure of these projects. For investors, treating celebrity coins cautiously and avoiding blindly following hype may be the best strategy to avoid losses.
As for the follow-up development of the Kanye coin issue incident, we are waiting for the official coin issue this week.
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