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Soulja Boy Rugs three NFT drops in one week!
In what appears to be comically true, rapper Soulja Boy is setting new records in the web3 and NFT world – just not in the way we want. Soulja Boy has now been the first rapper to have three consecutive NFT projects. Let’s take a look at how he has pulled that rug from under unsuspecting fans!
Soulja Boy: NFT Rug Expert?
Late last month, the SEC accused Soulja Boy of promoting cryptocurrencies. To clarify, he was illegally paid to do so without disclosure. The SEC lawsuit also saw other high-profile celebrities charged with the crime. The two cryptocurrencies are Tronix (TRX) and BitTorrent (BTT).
Just weeks after, the rapper released a collection of Limited Edition 3D NFTs. But despite obvious warning signs, his previous run-in with the law didn’t stop the NFTs from selling out in a matter of hours. The sold out Soulja Boy 3D NFTs are 500 digital items on the Ethereum blockchain.
They promise to provide exclusive unlocks for the upcoming Soulja Boy 3D Meta video game and membership benefits. According to OpenSea, the collection had a total volume of 69 ETH (~$130226.46).
However, crypto detective ZachXBT noticed that the collection blatantly ripped off the Ferrari logo with the artwork. Shortly after this, the collection was delisted from OpenSea. To no one’s surprise, there is still a derivative knockoff version of the project on Opensea. Just a day after this, Soulja Boy – the man, the myth, the legend, drops yet another NFT project – “Soulja Boy Pixel Art”.
The project is still up on OpenSea and shows the rapper’s face in a stylized, pixelated aesthetic over different backgrounds. This project has raised 36 ETH so far, for a total of 1,398 digital items with only 251 unique owners on Opensea. The project is also 100% listed.
Web3 Twitter explodes
Obviously web3 Twitter has had a field day with this one. The memes and drama surrounding the drops are, some would argue, better than the drop itself. Web3 Twitter has also dubbed the rapper with a new “full name”, changing Soulja Boy Tell Em to Soulja Boy Rug Em! This also makes Soulja Boy the first rapper to be banned on Opensea and return to do a re-drop. Legend.
But all humor aside, there are serious questions being raised about the ethics of web3 around projects like these. People still buy into NFT projects by entrepreneurs who incubate their community.
This project is more of a statement in web3 in the sense that it raises real questions about founders and collectors. Should banned founders be allowed on platforms like Opensea and allowed to sell their NFTs even if it was a proven carpet/illegal shill?
Only time will tell as the regulations surrounding the space increase. But one thing is clear, it’s still the wild wild west in web3.
