American rapper Ye, formerly known as Kanye West, has created quite a buzz in the crypto world by announcing his plan to launch his own cryptocurrency, $YZY Memecoin. $YZY is expected to be the native token of the Yeezy Website. In a recent X post, the controversial artist declared all crypto coins are and he is launching a token next week.
A Memecoin is a type of cryptocurrency inspired by popular internet memes or viral trends. These coins are popularized by influencers and online communities rather than their fundamentals.
What Is The $YZY?
Ye is planning to launch $YZY as the official token of his Yeezy Website. It’s unclear whether the coin will include additional utilities or have a purely meme-driven vibe. $YZY will allow fans to purchase products from the Yeezy Website directly. According to analysts, the coin could have a major pump followed by a devastating dump in the market which is a characteristic associated with meme coins, which are then boosted by influencers and community and often lack real-world, leading to their downfall.
$YZY’s official launch was scheduled for February 20, 2025, but was delayed due to issues that are not specified. The hype for the token increased when Ye shared the conversations he had with Binance co-founder Changpeng Zhao ‘CZ’, Zhao, which stated that $YZY is real.
Why Is Ye Launching A New Coin?
According to reports, ye is launching $YZY to overthrow online platforms like Shopify, which banned him from accessing their services due to his controversial comments made against the Jewish community. The token can be used by Ye’s fans to purchase Yeezy-branded products directly from the Yeezy website
Sources suggest that $YZY will follow the tokenomics strategy of leading meme coins like Dogecoin (DOGE), 70% of the supply will be owned by Ye, while 20% will go to investors, and 10% will be used for liquidity provisioning in the market.
Why The Delay In The Launch?
According to reports, the delay is caused by two reasons. one reason for the delay is the controversy related to the $LIBRA coin, which was a meme coin endorsed by Argentine President Javier Milei that turned out to be a $4.5 Billion scam. This incident created concerns about trusting tokens released by celebrities, prompting Ye’s team to reevaluate their launch strategies.
Another reason for the delay is Ye’s personal controversies. Considering that many partners have severed ties with him following his recent racist comments about Jews and his past actions on social media and in the public, the $YZY team has taken a cautionary approach to how these factors could create an impact on the token’s market reception.
He has already deleted his previous social media post on X that referenced the token launch, including the conversation with the Binance co-founder Changpeng Zhao. With all this going on users have started dismissing the claims of the token launch, calling it a typical example of Ye’s unpredictable online behavior.
Conclusion
The news of Ye’s coin comes during the heightened political and celebrity interest in the space. US President Donald Trump released the $TRUMP coin on January 2025 with 80% of the supply reserved for him,
For now, it remains uncertain whether the $YZY coin will be released but if launched, it would allow Ye’s fans to purchase his products from the Yeezy Website while providing him with an alternative payment system in the form of crypto that will be censorship-resistant. As the end of February approaches, all the attention is on Ye to see if the memecoin will finally be released.
