Hong Kong – Yey, the artist previously known as Kanye West, who has repeatedly called himself a “Nazi” in recent weeks, plans to launch a cryptographic card, according to three sources close to the project.
The Token, Yzy, is designed to help side passage platforms as shopify that have cut the ties with him in response to his hateful rhetoric.
Crypto, with his censorship resistant spirit, offers and an alternative route to collect his celebrity status: seventy percent of the Yzy card, named for Yeezy Rothhing, will be reserved for and personally, with only 10% assigned by liquidity by liquidity supply and 20% for investors.
Ye in Crypto’s raid comes immediately after years of public controversy that have tensioned their commercial empire. In 2022, Ye was retired by Adidas, Balenciaga and his talent agency after making a series of anti -Semitic comments, including the praise of Adolf Hitler in a live interview and tweet the inflammatory rhetoric on Jewish peoples and other groups.
The consequences continued this year when Yee, after calling himself a Nazi in X, listed a t -shirt with a swastika on the Yeezy website, leading the Shopify electronic commerce platform to close its online store.
Yzy is being packaged as the official Yeezy currency and will be accepted as payment on its website.
Coendesk learned of the Token through an email by Hussein Lalani, a person with an email address of Yeezy.com who identified himself as the financial director of Yeezy. After sending a document that describes the uninquented token, Lalani requested that Coindesk stop publishing and accept a “embargo.” COINDESK did not agree with the embargo, and three sources close to the project authenticated the document.
Lalani did not respond to other requests for comments.
The Token Yzy initially was on sale on the Yeezy website on Thursday at 6:00 pm, but the launch was delayed until Friday, according to a team member who asked not to be identified for fear of publicly associating with the project .
Following Trump
There have been murmuring of a potential token since the beginning of this month, after the rapper mocked that he had tried to contact the CEO of Coinbase, Brian Armstrong.
They later published that “I was not doing a coin” even though someone offered him $ 2 million to do so. He added: “The coins take advantage of fans with hype.”
Sources close to the Yzy team told Coindesk that your goal was to emulate the Trump meme coin of Donald Trump, which the president launched two days before his second inauguration. Trump lifted his eyebrows for distribution of equally massive information: 80% of Trump is currently held by CIC Digital, a company with links with the president.
I also wanted a property participation of 80%, but it was negotiated to 70%, an additional source close to the project that asked not to be identified to Coindesk. If the YE file even reaches a fraction of Trump’s success, his participation could be worth many millions of dollars.
‘Milei’s thing’
Yzy enters a market already saturated with cryptography projects promoted by celebrities, many of whom have been accused of exploiting the loyalty of fans without offering tangible utility. In many cases, these tokens see an increase in short -term prices driven by exaggeration before crashing, leaving retail investors holding the stock market.
Centralized property allocation is only added to the risk of sudden price falls. According to Yzy press release, YE’s 70% Yzy participation is structured through a multiphasic award schedule, some currencies are blocked for up to 12 months, which means that they cannot be sold until then, Although critics argue that such assignments with a lot of privileged information still favors founders about retail investors.
Just this week, Argentina was entangled in a political crisis after a memes currency backed by President Javier Milei, Libra, turned out to be a “bomb and careless” scheme, unleashing public indignation and demands the accusation.
The source close to Yzy told Coindesk that Token’s delay occurs when his team reflects if he is still “too close to Milei’s thing.”
