American rapper Kanye West (aka Ye) has announced that he will be releasing his own token -YZY meme. The cryptocurrency's debut was originally scheduled for Thursday, but was then postponed until Friday.
It is known that 70% of YZY tokens, named after the Ye Yeezy clothing brand, will belong to Ye personally, 10% will be used to provide liquidity, and 20% will go to investors. YZY is also positioned as a means of payment that will be accepted as payment on the Yeezy website.
According to Coindesk, the YZY memecoin will help Kanye West bypass restrictions on digital platforms that have severed ties with the rapper in response to his controversial statements.
In recent years, public scandals have severely damaged West’s business empire. In 2022, Ye was fired from Adidas, Balenciaga, and other companies after making a series of anti-Semitic comments and praising Adolf Hitler on live television.
The controversy continued this year when West, again calling himself a Nazi, posted a swastika T-shirt on the Yeezy website, prompting leading e-commerce platform Shopify to shut down his online store.
