In a recent video, Nas mentions that he just invested in Coinbase, a digital currency exchange and wallet service that allows you to purchase, sell, and store bitcoin, ethereum, litecoin, and the like. (If you don’t know what cryptocurrency is, be sure to read our introduction to Bitcoin for some background before reading on.) There’s a lot of buzz around cryptocurrency right now, and Nas is the latest to join the frenzy, calling himself ‘CryptoCurrency Scarface’ in the video.
Hip hop legend and artist Nasir Jones, known by his stage name Nas, recently released a new video featuring producer DJ Khaled and rapper Jay-Z. The songwriter mentioned that he is a crypto-currency scarf and also mentioned San Francisco-based Coinbase in his verse. Nas was one of Coinbase’s first investors in 2013, and it is estimated that he has made more than $100 million from his investments in the company.
Us was called Scarface, a crypto-currency.
Nas is a very famous hip-hop artist. Since 1994, he has released twelve studio albums that have gone platinum and multi-platinum in the United States. Nas is also considered one of the greatest rappers of all time, along with Eminem, Jay-Z, Andre 3000, Lil Wayne, Notorious B.I.G. and Tupac. Nas is not only a songwriter, but also an entrepreneur and has invested in many projects over the years.
One of Nas’ lucrative investments was Coinbase (Nasdaq: COIN), a San Francisco-based cryptocurrency company that just went public. Us did not invest in Coinbase directly, as his investments were made through his portfolio company, Queensbridge Venture Partners. Queensbridge revealed that he was an investor in Coinbase in 2013, when he helped raise $25 million in a Series B funding round. In 2013, Coinbase was valued between $100 million and $200 million, and the company has raised a huge amount of money since then.
In 2014, Nas told former Coindesk reporter Pete Rizzo: Bitcoin] is becoming as big an industry, if not bigger, than the Internet. He also said at the time that Queensbridge Venture Partners had invested in Coinbase. Now that Coinbase has gone public on Nasdaq and is currently trading at $297 per share, early Coinbase investors like Nas and NBA star Kevin Durant have made a lot of money. Analysts believe Queensbridge Venture Partners could have raised between $50 million and $150 million in COIN’s IPO.
Long Crypto Forever
After COIN launched on Nasdaq and shares began trading between market participants, Nas mentioned his investment in Coinbase in his latest video with Jay-Z and DJ Khaled. The song is called Sorry, Not Sorry and also features James Fauntleroy and Harmonies. Nas’ lyrics talk about betting on cryptocurrencies, not the draw.
The mention of the crypto-currency can be read in the video Sorry, Not Sorry:
Winner in life, fucking coin flip / I’m Coinbased, Scarface crypto-currency.
New York rapper Curtis Jackson, known by his stage name 50 Cent, also congratulated Nas and Brooklyn Nets star Kevin Durant, who made big money from their investment in Coinbase. I like to see my people win, 50 Cent said in mid-April about his investment in Coinbase.
The 15th. April wrote the official Nasa Twitter account:
A long-standing crypto-currency forever…. In sickness and in health.
Nas isn’t the only hip-hop tycoon who loves crypto-currencies. 50 Cent himself sold his album for bitcoins a few years ago. However, 50 Cent claims to have sold his crypto assets after the rapper filed for bankruptcy. Other crypto-centric hip-hop artists include Snoop Dogg, Talib Kweli, DJ Khaled, Murda Beatz, Logic, Kanye West and Pitbull.
What do you think of the new music video Nas released with Jay-Z and DJ Khaled that mentions cryptocurrencies and Coinbase in the lyrics? Let us know what you think in the comments below.
Tags in this story
50 Cent, Bitcoin, Bitcoin (BTC), BTC, COIN, Coinbase, crypto, cryptocurrency Scarface, Curtis Jackson, DJ Khaled, Kanye West, Kevin Durant, Logic, Murda Beatz, Nas, Nas Investment, nasdaq, nasdaq exchange, Nasir Jones, Pitbull, Snoop Dogg, Talib Kweli
Photo credit: Shutterstock, Pixabay, Wiki Commons
Denial: This article is for information only. It is not a direct offer or invitation to buy or sell, nor is it a recommendation or endorsement of any goods, services or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author shall be liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services referred to in this article.