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Entertainers are starting to understand the value of new financial models such as tokenizing themselves. The news of rapper Lil Pump joining Fyooz.io has leaked to public media ahead of schedule! Regardless of the news, a date will be assigned soon. Lil Yachty token sold out in 21 minutes with Fyooz.io on December 10th 2020, as brooding fans bought up 25,000 tokens. Smaller releases were sent out afterwards in the following days.
Lil Pump was nominated for the top streaming song with the Billboard Music Awards in 2018 for “Gucci Gang” which peaked at #3 on the Billboard Hot 100. He was also nominated with the MTC Video Music Awards as Push Artist of The Year. Lil Pump has released albums “Lil Pump” (2017) and “Harverd Dropout” (2019).
As rap culture blends lyrical, visual, and cultural displays, business is always a hot topic with the music industry. This is a big discussion point as for many artists to break into the industry. A celebrity tokenizing themselves creates both a new revenue stream and a way to connect with the public. This may or may not work outside of existing contracts and obligations. Analysis of tokenization in relation to music contracts will be very exciting to see develop and be used more frequently.