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Ja Rule Sells Fyre Festival Logo Artwork For $122,000

by RavenH
March 25, 2021
Reading Time: 1 min read
0
Ja Rule Owes Money

(Photo by Johnny Nunez/WireImage)

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NFTs are getting a lot of hype and headlines.

New York rapper Ja Rule sold a 48-inch-by-60-inch oil-paint portrait of the Fyre Festival logo for $122,000. The artwork was sold as a non-fungible token (NFT). The rapper told TMZ that he wanted to get rid of the painting to create new vibes in his space.

“I heard about NFTs [first] maybe like a couple of weeks ago,” Ja Rule told Forbes. “I wasn’t too educated on them, and I’m still learning a lot about it… I think people got a little bit tired of the regular stocks-and-bonds way of investing.”

The buyer received the original artwork as well.

Billy McFarland and Ja Rule organized the infamous Fyre Festival. The two were sued for $100 million after the festival failed to deliver a luxury experience to guests.  McFarland is serving a six-year sentence for fraud at the Federal Correctional Institution in Elkton, Ohio. Ja Rule was cleared of any wrongdoing.

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Tags: ArtBahamasBilly mCfarlandBondsBrandingCanvasConvictCurrencyExperiencefoodForbesFraudFyre FestivalHeadlinesHypeinvestingJa RuleLogoluxuryMarketingmoneyMusicnew yorkNFTNFTsOil-PaintingprisonProfitsRapSCamstocksthiefTrading

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