Lil Pump Is Doing a Social Token Called PumpCoin

Rapper Lil Pump is the latest celebrity to dip into the crypto world with the launch of his “PumpCoin” social token.

Dec 18, 2020 at 7:38 p.m. UTC
Updated Sep 14, 2021 at 10:45 a.m. UTC

“Gucci Gang” rapper Lil Pump is the latest celebrity to dip into the realm of social tokens with the listing of his “PumpCoin” on social money platform Fyooz.

The 20-year-old rapper appears to be following the Lil Yachty crypto playbook: a token sale on Fyooz and a subsequent non-fungible token (NFT) auction on the Winklevoss-owned Nifty Gateway.

Lil Pump, whose real name is Gazzy Garcia, is banking on his 25 million social media followers to take ownership of a “PumpCoin,” which, similar to a recent string of experiments with social tokens, will give fans exclusive access to the Colombian-American singer. According to the Fyooz site, "PumpCoin token holders will have an opportunity to play Call of Duty or NBA 2k21 live and 1:1 with Lil Pump."

“There has never been a greater need for artists and fans to find a new way of engaging given the lack of industry events from COVID-related shutdowns,” Remo Prinz, co-founder of the Zurich-based Fyooz, said in a statement. “Social tokens are a way for artists and other personalities to potentially monetize fan engagement.” Fyooz token sales are not open to U.S. investors.

The YachtyCoin sale last week raised at least $276,000 for the Atlanta-born rapper. Lil Yachty’s digital collectible sold for $16,050 this week to Bill Lee, a general partner at early-stage VC firm Craft Ventures, who sniped the NFT from “bitcoin billionaire” Tyler Winklevoss at the last minute. 

This follows a trend of flashy NFT auctions by high-profile musicians. Canadian DJ Deadmau5 launched a series of digital collectibles this week, RAREZ, worth around $100,000. On Wednesday night, a piece of the collection named “In Titan's Light” sold for 78 ETH ($50,039) on NFT platform SuperRare.

The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

1
CoinDesk - Unknown
One River’s Carbon Neutral Bitcoin ETF Rejected by SEC

It's the latest in the agency's string of rejections of spot Bitcoin ETF applications.

It's the latest in the agency's string of rejections of spot Bitcoin ETF applications.

CoinDesk - Unknown
2
CoinDesk - Unknown
A Second Chance: New Terra Blockchain to Launch Saturday, UST Now Live on Polygon

The most valuable crypto stories for Friday, May 27, 2022.

The most valuable crypto stories for Friday, May 27, 2022.

CoinDesk - Unknown
3
CoinDesk - Unknown
Bitcoin Faces Resistance at $33K; Support at $22K-$25K

Volatility could rise, especially if another price breakdown occurs.

Volatility could rise, especially if another price breakdown occurs.

CoinDesk - Unknown
4
CoinDesk - Unknown
UK Crypto Hedge Fund Weathers Market Storm With Arbitrage Strategy

Nickel Digital Asset Management’s arbitrage fund is only down about 0.6% this year, compared to bitcoin’s drop of roughly 40% and the Nasdaq’s dip of 24%.

Nickel Digital Asset Management’s arbitrage fund is only down about 0.6% this year, compared to bitcoin’s drop of roughly 40% and the Nasdaq’s dip of 24%.

CoinDesk - Unknown