Madonna Becomes Latest Celebrity with BAYC NFT

UTC by Babafemi Adebajo · 2 min read
Madonna Becomes Latest Celebrity with BAYC NFT
Photo: Madonna / Facebook

Madonna’s foray into the world of NFTs has been greeter with uproar by her fans, many of whom expressed their displeasure.

Celebrity musician Madonna has become the latest celebrity with a BAYC NFT. The 63-year-old queen of pop announced the purchase of Bored Ape #4988 via her Instagram page. Bored Ape #4988 is essentially a bored-looking ape with a BDSM-inspired black leather cap and a cigarette in the mouth.

Madonna noted that the purchase marked her entry into the metaverse. Previously, her engagement with the crypto world was related to a partnership with Ripple Labs to raise funds for orphans in 2018.

The pop star thanked MoonPay whose concierge service allowed her to make the purchase. Recall that crypto payments outfit, Moonpay, has been sealing up big NFT deals on behalf of celebrities. Records on OpenSea show that MoonPay purchased the BAYC NFT on March 16 for 180ETH. This was reportedly 105% more than the collection floor and 57% more than the adjusted floor price.

Afterwards, the company transferred the NFT to a wallet likely owned by Madonna about two days ago. With this purchase, Madonna became the latest celebrity, and perhaps one with the highest profile, to buy a BAYC NFT. Celebrities like Justin Bieber, Kevin Hart, Neymar Jr., Snoop Dogg, Eminem, Jimmy Fallon and a host of others all purchased from the BAYC NFT collection earlier.

Uproar Shows Changing Market Attitude to NFTs

Madonna’s foray into the world of NFTs has been greeter with uproar by her fans, many of whom expressed their displeasure. One fan advised her not to tarnish her image by supporting questionable NFT projects. Another expressed disappointment in Madonna. Yet another fan urged her to delete the post.

The uproar provides proof of the rising animosity against NFT projects. Many people believe the value of NFTs to be artificial and driven by demand. With celebrities jumping on board, the price of the NFTs has continued to rise unhindered.

Meanwhile, transaction records show the purchase and transfer of another BAYC NFT to another wallet address. Bored Ape #1506 is a leopard-furred primate with an eye patch. Since the transfer, a similar image has become the Twitter display of rapper Wiz Khalifa. There have been no official announcements from Wiz Khalifa in this regard.

Blockchain News, Cryptocurrency news, News
Babafemi Adebajo

An experienced writer with practical experience in the fintech industry. When not writing, he spends his time reading, researching or teaching.

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