Renowned rapper Kanye West has launched his own Solana-based cryptocurrency token, Yeezy Money ($YZY), aiming to build a decentralized economic system. The token experienced rapid price growth, surging briefly to $3 before a dramatic collapse back down to around $1.5 billion in market value. This move follows West’s past dismissal of memecoins as fan exploitation schemes. 20% of the YZY tokens were allocated for public sale, while another 20% was earmarked for liquidity. The remaining allocation was vested with Yeezy Investments LLC, creating a gradual release schedule to mitigate potential supply shocks. While some saw the token’s launch as an opportunity to revolutionize finance, others raised concerns about its short-term sustainability. One prominent crypto trader, Arthur Hayes, regrets trading on the YZY token after witnessing a rapid price drop following its launch. The decline in value has led to a 54% decrease from its initial price point, prompting questions regarding the long-term viability of the project. However, it’s worth noting that Solana, known for hosting popular viral tokens like BONK and WIF, is seeing increased interest due to West’s involvement.