Made you look
Hip Hop icon Nas could earn millions from cryptocurrency investment
What do you think about when people talk about Nas? A legendary rapper? A famous songwriter? Or an amazing entrepreneur? Recently, the Hip Hop icon has taken everyone by surprise. As a shareholder in the cryptocurrency exchange Coinbase since 2013 through his company QueenBridge Venture Partners, his stake is worth at least US$40 million. Once Coinbase's IPO went public, the cryptocurrency exchange was valued at US$99.6 billion. In minutes, it reached a valuation of over US$100 billion.
Nas’ company typically invested between $100,000 and $500,000 when it joined Coinbase’s $25 million Series B round in 2013. According to Pitchbook, that round valued the firm at around $150 million, less than one percent of its current market value. Nas’ investment would bring his company profits of between $34 million and $173 million. His early investments are now paying off handsomely.
While the Hip Hop legend may be known for having one of the best debut albums of all time, Illmatic, as well as many notable hits over the years, the history books might just remember him for making a fortune off of cryptocurrency.