Ja Rule’s Fyre Festival Painting Sells for $122,000 as NFT
An original painting commissioned by Ja Rule sold for approximately $ 122,000 through the rapper’s NFT project KickFlip. It offers established and emerging artists and holders of valuable art the opportunity to monetize their work with non-fungible products tokens.
The portrait of the Fyre Media logo was created by Tripp Derrick Barnes and once hung in the company’s New York office. The painting was relocated to Rule’s New Jersey home when headquarters closed following the disastrous events that resulted in Fyre Festival organizer and promoter Billy McFarland being sentenced to six years in prison for fraud.
Although Rule is a household name for the Fyre Festival, he was legally exempt from any wrongdoing after a judge found he was unaware of the number of logistical and financial errors behind the scenes. Rule dodged a $ 100 million class action lawsuit against McFarland and others involved in the botched 2017 event.
The rapper has been ready to move on for a while, and his most recent advance is selling the painting he thinks is bad luck and Forbes, “I just wanted that energy out.” In addition to the painting, the winner will receive a note from Rule saying, “Fuck this painting”. An autograph is also available on request.
Rule said he would initially list this artwork he paid $ 2,000 for on eBay, but was convinced he would go the NFT route. While the rapper and entrepreneur admittedly only found out about NFTs a few weeks ago, he’s working on learning more about them. Rule was named one of the top five people in the crypto market by BeInCrypto this week, so he seems to be doing something right.