Nas has a $40 million interest in Coinbase, a Nasdaq-listed cryptocurrency exchange.
Nasir Jones, best known by his stage name Nas, an American rapper and cryptocurrency investor, has encouraged fans to enter the cryptocurrency business in a new song.
“Sorry Not Sorry,” which was released last week, features a collaboration with DJ Khaled, Jay-Z, and James Fauntleroy. Nas rapping about Coinbase, the largest crypto exchange in the United States, went live on Nasdaq on April 14.
Nas raps in the new collab “Winner in life, fuck a coin toss / I’m coin-based, basically cryptocurrency Scarface / Join us, there’s gotta be more of us,” The official music video for “Sorry Not Sorry,” which was released on YouTube last Friday, has 7.8 million views as of this writing
Nas is an early Coinbase believer, as Cointelegraph previously noted, investing in the startup through his venture capital fund Queensbridge Venture Partners. In 2013, the rapper allegedly bought between 99,000 and 496,000 shares for $1.00676 per share in Coinbase’s $25 million Series B round.
Coinbase COIN stock debuted on Nasdaq in mid-April at $381, indicating high institutional interest despite the stock’s pre-listing reference price of $250. The stock closed at $297 on Friday, with a market value of nearly $60 billion. On the day of the listing, Nas, who should have made at least $40 million from his early Coinbase purchase, took to Twitter to say: “Long crypto forever…. in sickness and in health.”
Nas’ Queensbridge, as previously noted, has invested in several other crypto firms, including Bitfury Group, BlockCypher, and the crypto-friendly stock trading app Robinhood.
Nas’ track partners have also worked in the cryptocurrency business. In February, Jay-Z and Twitter CEO Jack Dorsey established a 500 Bitcoin (BTC) creation fund.
On the other hand, DJ Khaled hasn’t had any success with cryptocurrencies. In 2019, the album maker agreed to pay six-figure settlements to US authorities for using social media to promote Centra Tech’s fake initial coin offering.