Money Moves September 14, 2021 at 10:00 am

Rapper Ja Rule has created his own cryptocurrency

Abu Mubarik September 14, 2021 at 10:00 am

September 14, 2021 at 10:00 am | Money Moves

Ja Rule onstage during the Viacom TCA Presentation at The Beverly Hilton Hotel on July 29, 2015 in Beverly Hills, California. Jason Kempin— Getty Images

Ja Rule has joined the list of growing celebrities and hip-hop stars venturing into cryptocurrency. The rapper has helped form a non-fungible token (NFT) marketplace called Flipkick.io with serial entrepreneur Robert Testagrossa and engineer James Cropcho.

Flipkick.io serves as a platform for artists like Ja Rule and other celebrities and creators to monetize their work in NFT form, Bitcoin.com reports. According to revolt. tv, the rapper in March sold a Fyre Festival painting for $122,000 in cryptocurrency, and in June, he signed a deal with the Ethereum-based startup Roll.

The Murder Inc. rapper revealed in an interview with Bitcoin.com that his first introduction to NFTs was with NBA Top Shot. “I just thought they were like the new digital sports cards. You know, that type of thing. I started collecting those because I collect regular sports cards,” he said.

He added: “That was like the next obvious progression for sports cards and so I started collecting those and then a friend of mine let me know that what I was collecting was actually NFTs. He told me that ‘you already been collecting them – NBA Top Shots are NFTs.’”

Ja Rule said he felt it was a “great idea” when he was approached with the opportunity to partner with Testagrossa and Cropcho on Flipkick.io. “As I got into NFTs I noticed a dope project and the whole angle was something different, which I really loved,” he explained.

“The angle of taking physical works of art and authenticating them in a similar way NFTs are authenticated on the blockchain but with a chip. We have a patent pending on our technology, and when I say ours it’s because I’m part of the company,” he added.

Ja Rule also revealed his love for bitcoin, ethereum, cryptocurrencies, adding that digital currency is the “next obvious step in economics”.

The rapper told Bitcoin.com that he has his own cryptocurrency with a company called ICONN. “I haven’t launched it or anything yet but I guess this is going to be my coming out party because I just mentioned it. I have my own currency, I just haven’t launched it yet but it’s definitely ready to go,” he said.

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