Kanye West, formerly known as Ye, has launched a new Solana-based token, Yeezy Money (YZY), marking his first direct entry into the cryptocurrency space. The token was announced via West’s X account, accompanied by the contract address and a dedicated website for transactions. YZY is described as part of a broader “YZY Money” ecosystem, aiming to build a “new financial system on crypto rails.” West confirmed the launch in a self-recorded video hours after the initial announcement [1].
YZY’s debut was marked by rapid price surges, with the token reaching a market cap of over $3 billion within 40 minutes of its launch. The price briefly hit $3.16, a gain of nearly 6,800% from its initial value. The token was quickly listed on major platforms such as CoinMarketCap, Bitget, and Poloniex. However, the initial euphoria was followed by a sharp correction, with YZY’s market cap falling to around $1.12 billion at the time of reporting. Analysts have pointed to concerns over insider holdings, with Coinbase director Conor Grogan noting that approximately 94% of the supply was controlled by insiders, including a single multisig wallet that once held 87% of the total supply [1].
Despite these red flags, YZY attracted interest from prominent crypto traders. Leverage trader James Wynn expressed confidence in the token’s short-term potential, comparing it to Donald Trump’s Solana-based memecoin, which saw a 400% gain in 28 hours. Wynn stated he plans to increase his investment in YZY in pursuit of similar returns. Arthur Hayes, co-founder of BitMEX, also confirmed that he had purchased the token, indicating the broader appeal of celebrity-backed digital assets [1].
YZY’s token distribution model allocates 20% to the public, 10% to liquidity, and the remaining 70% to Yeezy Investments LLC, which is locked for 24 months under a structured vesting schedule. The token also employed an anti-sniping strategy by deploying 25 contract addresses, with only one designated as the official YZY token [1].
The launch of YZY aligns with a growing trend of high-profile individuals entering the crypto space to tokenize their brands and fanbases. While no detailed tokenomics or utility were disclosed at launch, the project leverages West’s global influence to drive engagement and liquidity. Solana’s low transaction fees and fast processing times have made it a preferred platform for such projects, with increasing integrations and infrastructure developments supporting its appeal [1][2].
YZY’s future remains uncertain, as memecoins often rely heavily on social media momentum and continued community engagement. Without a clear roadmap or additional utility beyond speculative value, the token’s long-term success will depend on maintaining interest and avoiding the pitfalls common to similar projects. The launch, however, highlights the ongoing intersection between celebrity culture and decentralized finance, with Solana emerging as a central hub for innovation and experimentation [1][2].
Source:
[1] ZyCrypto, [https://zycrypto.com/kanye-wests-official-yzy-memecoin-debuts-on-solana-with-blistering-gains/](https://zycrypto.com/kanye-wests-official-yzy-memecoin-debuts-on-solana-with-blistering-gains/)
[2] Cointelegraph, [https://cointelegraph.com](https://cointelegraph.com)
