It's looking like the NFT phenomenon hasn't died down just yet. With non-fungible tokens sporting the image of Marvel Cinematic Universe hero and Andy Warhol's self portraits hitting the market this week, it seems like the trend isn't going anywhere anytime soon.
Who's the newest celeb to crank out their own NFT? None other than Jay-Z
In celebration of the twenty fifth anniversary of the prolific rapper's 1996 debut album, Reasonable Doubt, Jay-Z is selling his very first NFT through the online store Sotheby’s. The sought after piece, entitled Heir to the Throne, displays Jay-Z in full kingpin attire. It features a static image of smoking ascending form a burning cigar and diamonds that flickers brightly through each frame.
The man behind the piece is a well known, Brooklyn based artist by the name of Derrick Adams. Adams and the entertainer first met several years ago and found a mutual connection in the way their Brooklyn roots spilled into their artistry.
"Over the years Jay has collected and supported my work, and so this collaboration is particularly fulfilling," Adams remarks in a statement.
Adams has grown a mountainous amount of recognition from the art world from his emotionally immersive painting depicting the joys of African American heritage.
"With this NFT project, we jointly embrace the opportunity to further the conversation about how artists of different mediums contribute to a more inclusive society," he continues, "Jay’s album Reasonable Doubt changed the game 25 years ago, and continues to influence so many of us. It tells the story of someone from Brooklyn occupying the urban space — a place that is as central to my own work as it is to his."
An undisclosed amount of the proceeds from Heir to the Throne will go towards the Shawn Carter Foundation, the rapper's initiative to "to help individuals facing socio-economic hardships further their education at post-secondary institutions," according to Sotheby's.
The excitement of this new virtual artwork comes just a week after a heated legal battle came about in regards to NFT and Jay-Z likeness. The rapper's record label Roc-A-Fella Records wasn't too pleased with its former co-founder Damon Dash deciding to sell his own Reasonable Doubt NFTs. After a failed auction, Dash found himself with a lawsuit. Though Dash proclaimed that the lawsuit was littered with inaccurate information, the judges final decision went in the favor Jay-Z. Just weeks before this incident, the rapper filled another lawsuit against photographer  Jonathan Mannion in another likeness dispute.
The current bidding for Heir to the throne stands at a whopping $26,000 and closes on July 2nd.
Sources: Rolling Stone , Sotheby's, TMZ