Fyre Festival Co-founder Ja Rule Is Making Mogul Moves With NFT and Crypto Endeavors
In Spring of 2021, the lead vocalist of the early ‘00s hits “Mesmerize” and “Always on Time” sold a painting for quite a lot of money. Jeffery Bruce Atkins, better known by his stage name Ja Rule, had begun selling off memorabilia related to the infamous Fyre Festival. This particular painting went for $122,000, but it wasn’t any ordinary painting. Ja Rule was selling a physical NFT, and now he’s turning that moment into his next business venture.
While Ja Rule hasn’t quite reached billionaire status, the rapper is already known for his business ventures outside of music. Ja Rule has been a part of clothing lines, liquor companies, sneakers and even credit cards. These efforts culminated in the rapper’s involvement in Fyre Festival, the controversial music festival that was the subject of a viral documentary. Most of Ja Rule’s investments haven’t taken off the way he probably wanted, which is an unfortunate reality in the world of investing.
In selling his Fyre Festival painting as a physical NFT, Ja Rule was looking to purge himself of the energy associated with the failed festival. This endeavor was successful enough that the rapper is now turning to NFTs and an adjacent realm, cryptocurrency, for his next big project. But will two new crypto platforms, Flipkick and MetaMask, be enough to take Ja Rule from investor to mogul? Or will this end up being a financial Fyre Festival?