Fyre Festival

Ja Rule Is Selling An NFT Of A Viral Fyre Festival Cheese Sandwich Tweet

by
Getty Image

As NFT-mania maintains its vice grip on the public consciousness, early adopter Ja Rule continues to capitalize on the craze by once again returning to the scene of one of his biggest business failures: Fyre Festival. After selling a massive painting of the Fyre Festival logo as an NFT for over $120,000, the latest Fyre-related NFT to appear on his Flipkick platform is a viral tweet about the “gourmet” dinner provided to attendees, which turned out to be a sad cheese sandwhich.

The 2017 tweet was one of the wider world’s first indications of trouble in paradise, as influencer attendee Trevor DeHaas alerted his Twitter followers to the logistical shortcomings that would soon become a full-blown disaster and the subject of competing documentaries on Netflix and Hulu. DeHaas seems to have developed a sense of humor about the whole thing because he has partnered with Flipkick to sell the rights to the now infamous tweet. They’ve valued those rights at $80,000, which will go toward DeHaas’ medical expenses — he needs a kidney transplant and is currently on dialysis.

There’s precedent for selling tweets as NFTs, with Twitter CEO Jack Dorsey’s first tweet going for $2.9 million, but it’s unclear just what happens once the non-fungible token trades digital hands. Plenty of investors are betting big that other rich folks will want to “own” a digital code that says they have the rights to a piece of artwork most people can just right-click/save as on their desktops. But at least the money in that case went to a good cause; Dorsey donated the money to GiveDirectly, which works with US families affected by COVID.

Meanwhile, Ja’s other big investment this year, into inflated GameStop stock, isn’t quite showing the payouts that enthusiastic investors promised when they made a run on the stock in January. Maybe this isn’t the guy to take your financial advice from, just a thought.

Ja Rule Sold A Painting Of The Fyre Festival Logo As An NFT For Over $120K

by
Getty Image

Crypto-art is currently beyond big business as the non-fungible token trading craze continues. The latest high-profile celebrity to get in on the bubble before it bursts is Ja Rule, who bragged of recently selling a painting of the Fyre Festival logo for over $120,000 on the Flipkick market. It was painted by Tripp Derrick Barnes for the company’s New York office but Ja kept it after the disastrous festival weekend.

Although Fyre Festival creator Billy McFarland was sentenced to six years in prison for fraud, investor Ja Rule was cleared of similar charges after a judge determined he didn’t know about the behind-the-scenes logistical failures that turned the luxury festival into a documentary-worthy fiasco. In an interview with Forbes about selling the painting, Ja explained that he really wanted to get rid of the painting because he felt it brought him “bad luck.” Initially commissioning the painting for just $2,000, he originally thought about selling it on eBay but a friend convinced him to get in on the NFT trend.

And while $120,000 seems like a tremendous profit on the $2,000 painting, it’s a big step down from his original asking price of $600,000. I guess people weren’t willing to go in that deeply on something Ja Rule’s selling.