Over the past year, non-fungible tokens, or NFTs, have burst onto the scene as the latest form of cryptocurrency. The last few months have truly brought NFTs to prominence, as many are beginning to see just how much money they can make in a short amount of time. Now pulling ahead of things like Bitcoin and Litecoin, NFTs are their own thing and much different from what we knew about cryptocurrency before. These new forms of cryptocurrency change the future of finances and help usher the world into what many call the “metaverse.”
NFTs and The Metaverse
NFTs find their value in digital content, for example, images, songs, and videos; they are a part of the Ethereum blockchain. Ethereum is the cryptocurrency that gives value to your NFTs.
The most expensive NFT sold is currently “The Merge” by Pak. It sold for $92 million through Nifty Gateway in December of 2021. On average most NFTs sell for a few hundred dollars. Many people enjoy NFTs not just for their market value but also for the thrill of collecting.
While the world of NFTs is still new and emerging. Some of the gathered data says that the industry has grown tenfold over the last two years. It has also been noted that NFT sales were over $2.4 billion in the first half of 2021. NFTs are growing rapidly every day, and that is partially thanks to the vast endorsements of celebrities.
The metaverse will be the digital world where people will showcase their digital wealth in their purchased art and other property. People can even buy virtual land in the metaverse as a cryptocurrency. It is an abstract concept that isn’t too far away from reality.
Gunna and NFTs
Many people have rushed to claim their spot in the metaverse as many have already bought NFTs. Some are just getting into the digital world, while others are seasoned trade veterans. However, celebrities are not exempt from wanting to dive headfirst into this new world of NFTs.
Usually, celebrities expected to be associated with high-tech, futuristic endeavors are the savvy tech gurus or business tycoons such as Elon Musk and Gary Vee. However, this world has opened doors to all sorts of celebrities, including rappers and songwriters.
One celebrity making waves in the NFT world is rapper and songwriter Gunna. Sergio Giavanni Kitchens, better known as Gunna, is a 28-year-old Atlanta native. Gunna was raised by a single mother with four brothers and began making music when he was 15.
He burst onto the music scene in 2013 and has taken the world of hip-hop by storm ever since. Gunna began his career by dropping his mixtape as Yung Gunna titled “Hard Body” in June of 2013. In 2016 he debuted his first mix take as Gunna called “Drip Season” in October of 2016. His second album, “Wunna,” debuting in May of 2020, made it onto the Billboard 200. Finally, his third album, “DS4Ever,” came out in January of 2022 and became his second consecutive album to reach number one. He has even shared the stage with other artists like Drake, Lil Baby, Chris Brown, 21 Savage, Future, and Travis Scott.
The rapper has even taken the time from his busy life to give back to the community. He has worked with Goodr, a sustainable food waste management, and hunger relief company. Together they are working towards opening a free grocery store at his old middle school in Atlanta. Gunna has proven that his wealth and fame should be put to good causes and good investments.
Despite having his fame and fortune from the music industry, Gunna decided it was time to jump into the metaverse and purchase his own NFT. He stated that he knew to invest in his future, he would need to start investing in NFTs. The rapper doesn’t want to be far behind the rest of the world when the metaverse is in full swing. Gunna also stated that he would continue to buy NFTs and complete his art collection.
The Bored Ape Yacht Club
The Bored Ape Yacht Club is a collection of 10,000 NFTs depicting various bored apes. Bored Apes go from simple to absurd, but all follow the same template, making them a worthy collectible for any collector. These NFTs are increasingly popular. Anyone on social media has most likely seen them floating around.
Gunna joined fellow rapper Future and hopped on the Bored Ape train. On December 12, 2021, Gunna announced via social media that he bought the Bored Ape NFT who Gunna has named “Butta.” This NFT is worth $300,000 and was bought through MoonPay.
Butta is depicted wearing an ammo sling and turquoise glasses. The Bored Ape also has glowing eyes and a green kazoo.
Gunna Buys Butta
Gunna marked this event with a performance also announcing his purchase of NFTs. Finally, he got a tattoo on his calf of Butta to solidify his new dedication to the world of NFTs. However, Gunna assures his followers that this isn’t just a trend for him. He avidly believes in the future of the metaverse and that his involvement with NFTs will help give him and his family a stable future.
The Atlanta rapper’s involvement with NFTs doesn’t stop there. In an interview, he has also teased that he may be dropping an NFT collection of his own. If Gunna does decide to make his own NFTs, he will become an even bigger player in this new digital world. Instead of investing in others, he will have others investing in him, which will start a huge chain reaction for the rapper’s wallet. It also wouldn’t be farfetched for the rapper to release a music file as an NFT in the future as well. Like Kings of Leon, many bands have released albums with NFTs giving way to another investment that celebrities like Gunna can make.
Furthermore, the internet has been ablaze ever since talking about Gunna’s involvement in this new metaverse. He was even challenged by the radio host, Charlamagne the God, asking Gunna if he would respect wealth in the digital world the way the physical world is respected. Gunna, of course, answered, “Yes.” Many people don’t believe in the lasting effects of NFTs, feeling as though the physical world will reign supreme in the following years and NFTs will meet their eventual death. However, Gunna is not one of them.
Celebrity involvement has thrown NFTs into the forefront of every get rich quick scheme and has gained prominence thanks to large-scale media stunts like getting a tattoo of a bored ape. Avid followers of celebrities, like Gunna, have followed suit and began investing in the cryptocurrency and buying into the metaverse. It shows the amount of influence these celebrities have over their following. However, the NFT investments that many have done have proven successful for many young entrepreneurs.
Gunna is one of many rappers to hop onto the NFT craze. He is joined by the likes of Snoop Dogg, Lil Yachty, Future, and Nas. Many endorse the investment and have the hope to continue securing a place in the metaverse. The question is, “Is this just a phase, or will NFTs be here to stay?”