Kanye West’s launch of the YZY memecoin has led to speculation about his next move. He has sparked speculation in the crypto world with his latest tweet: “I need my own blockchain.” This statement has led many to believe that he is serious about entering the cryptocurrency space.
Right now, YZY is just a memecoin, and it is unclear if Kanye will expand it. Some experts think he will continue using platforms like Ethereum or Solana. Others believe he might create something unique, like he has in music and fashion.
His latest tweet suggests that Kanye might be planning something bigger—possibly his own blockchain network. If true, this could give him more control over his crypto ecosystem and allow for new financial opportunities.
If Kanye does launch his own blockchain, it could make YZY more than just a hype-driven token. But there is no official announcement yet. Investors should wait for more details before making any big decisions.
While some fans are excited, others remain skeptical, remembering past celebrity-backed tokens that failed. Whether Kanye is truly committed to crypto or just riding the hype remains to be seen. Investors are watching closely for his next move.
Kanye West has expressed a desire to create his own blockchain for YZY, raising questions about why he doesn’t want to use existing ones like Ethereum or Solana. Many speculate that Kanye might be unhappy with the rules and restrictions of popular blockchains or want full control over his project.
More Control Over YZY
Kanye holds 70% of YZY’s supply, which already raises concerns about centralization. Having his own blockchain would give him even more power over transactions, fees, and the overall system.
Avoiding Existing Rules and Restrictions
Major blockchains have guidelines to prevent scams and price manipulation. If Kanye’s coin doesn’t meet their standards, it might face rejection or strict conditions.
Exclusive Branding and Hype
Creating a unique blockchain would set YZY apart from other meme coins. This could help Kanye market it as a revolutionary project instead of just another celebrity-backed token.
Higher Profits and Fewer Competitors
If YZY runs on its own blockchain, Kanye could earn transaction fees and control how the network grows. This could be a strategic move to maximize profits.
It is still unclear if YZY will be available on major crypto exchanges. Many blockchains require fair token distribution, and Kanye’s large holding could be a problem. Investors are waiting to see if he will launch his own blockchain or adjust YZY’s structure to meet listing requirements.
Some fans are super excited, others have concerns. Celebrity-backed cryptos often create hype but can fail quickly. The Trump token gained popularity due to Trump's influence, and YZY could follow a similar path.
However, experts warn that fame alone is not enough for long-term success. YZY also faces issues like low liquidity, which could make trading difficult.
If Kanye has a strong plan, the coin might grow. But if it relies only on hype, it could fail. Investors should be cautious and do their research before investing.
Mohit Raghuwanshi is an Indian journalist working at Coin Gabbar’s news desk, passionately following the ever-evolving crypto market. With a keen interest in blockchain technology and digital assets, he delivers in-depth reports on industry trends, regulations, and market movements. He holds a bachelor's degree in Journalism and Mass Communication and previously worked as a content writer at a PR agency, honing his skills in crafting compelling narratives and analyzing financial markets.
1 month ago
Ethereum news
1 month ago
News on digital wallets
1 month ago
Blockchain technology news
1 month ago
New cryptocurrency releases
1 month ago
Cryptocurrency industry insights
1 month ago
Cryptocurrency tax news
1 month ago
DeFi news updates
1 month ago
Crypto investment news
1 month ago
Ethereum news
1 month ago
NFT news