Just days after the rise and fall of LIBRA, a meme coin backed by Argentina’s President Javier Milei, another celebrity-backed token is making headlines. This time, American rapper, designer, and entrepreneur Ye – Kanye West – is stepping into the highly competitive meme coin market.
Ye was set to launch his meme coin, YZY, on February 20, but the release has been delayed indefinitely. At the same time, he is facing heavy criticism for his anti-Semitic remarks, leading many to wonder: Will YZY ever launch?
According to Polymarket predictions, there is only a 36% chance that Ye will release his meme coin before the end of the month. Let’s break down the situation and see if YZY has a future.
YZY is a meme coin, similar to Dogecoin. But unlike most meme tokens, YZY will have a real-world use case—it will serve as the official currency of the Yeezy brand and website. This means customers will be able to buy Yeezy products using YZY tokens.
Ye’s move into crypto comes after his business empire began to crumble due to his controversial views.
Since 2022, when he made pro-Nazi statements and praised Adolf Hitler, major brands like Adidas and Balenciaga have cut ties with him. Even his talent agency dropped him, leaving him financially vulnerable.
By launching a meme coin, Ye may be looking to build a financial system outside of traditional corporate backing, allowing him to regain control over his brand.
Reports suggest that YZY’s supply will be distributed as follows:
This structure is similar to Dogecoin’s tokenomics, but whether it will work in Ye’s favor is another question.
Launching a new meme coin right now is risky. Other than TRUMP, a meme coin tied to Donald Trump’s family, few celebrity-backed tokens have seen lasting success.
LIBRA, Argentina President Javier Milei’s meme coin, is the latest example of a celebrity token crashing shortly after launch.
On top of that, the meme coin market is struggling, with major tokens seeing big losses in the past 24 hours:
Despite the uncertainty, reports suggest Ye still plans to launch YZY by the end of the week. But given the current market conditions and his ongoing controversies, it’s unclear whether YZY will be a hit or just another failed celebrity token.
Will Ye’s meme coin survive, or is it doomed before it even starts? Only time will tell.
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