Kanye West Turning to NFTs?

While he might be a polarizing public figure, there is no denying that rapper and designer Kanye West has put out some beloved creations into the world. From his music catalogue that is loved by millions to his widely successful Yeezy clothing line, West certainly knows how to create a popular product. 

Now, he might be adding NFTs to his long list of offerings. This comes as Mascotte Holdings Inc, a company owned by West, has filed 17 trademark applications with the United States Patent and Trademark Office. 

While this, on its own, is not necessarily newsworthy, one of the things mentioned in the trademark application is NFTs.

West Takes on NFTs?

The trademark applications, which were filed on May 27, 2022, were all for West’s YEEZUS brand and outlined several products and services that could be released under the brand. 

Among other things such as amusement parks, cosmetics, and clothing, blockchain-based currencies and non-fungible tokens were also listed. That’s right; if the trademark is approved and the company moves forward with these projects, we could be seeing YEEZUS-based cryptocurrencies and NFTs in the future.

This might come as a bit of a surprise to West fans as he famously uploaded the picture of a hand-written message on Instagram earlier this year. In the message was a line that said, “Do not ask me to do a fucking NFT”. Perhaps this is West walking back on his previous statements. 

If he does make this leap, he will be far from the first celebrity to release their own NFT. In the last month alone, everyone from Singer Madonna to supermodel Bella Hadid has announced or released an NFT-focused project and it seems to be the hottest new trend among celebrities.

But what exactly would West do within the Web3 landscape? Well, YEEZUS was the name of his 2013 album and tour. Seeing as concerts and events have been held within the metaverse, fans of West could choose to catch him live in a digital world. 

Then there is the potential for the NFTs to foster more fan communities. When Bella Hadid, for example, announced her NFTs, it was explained that owners of the NFT would have the opportunity to meet the model in person and also be part of a global community.

Given how many fans West has around the world, a YEEZUS-focused NFT community is not out of the question. In one of the fillings for the trademark, mention was made of a potential marketplace for the trading of digital assets and this, of course, could be massive. 

LimeWire, for example, recently announced a new NFT marketplace where assets can be traded. Should this concept be adopted by an artist with as complex a catalogue and career as Kanye West, the sky is the limit. 

CelebritiesXNFTs?

As we have seen in the past, a trademark filing is usually the first step toward the announcement of a new venture. Even if Kanye West does not eventually release his own NFTs, it is clear that they are the new celebrity favourites.