Azealia Banks sold her audio sex tape with her fiancé Ryder Ripps for $17,000 as an NFT, or a non-fungible, token, which essentially allows individuals to sell digital objects as one-of-a-kind via cryptocurrency.
Now, the sex tape is being resold for over $260 million.
NFTs, as Insider’s Grace Kay previously wrote, are “a special class of digital assets that cannot be exchanged with one another for equal value or broken down into smaller values like most currencies.” The digital products sold on the cryptocurrency market can range from anything like digital art or virtual real estate to now, the first-ever NFT audio sex tape – Vice reported – which Banks posted.
The audiotape, published on the NFT marketplace Foundation on March 6 and titled “I F—-D RYDER RIPPS,” is said to be a 24-minute long recording of Banks and her fiancé having sex that was uploaded and listed for 10 Ethereum – a cryptocurrency – valued at over $17,000. Less than 12 hours later, an artist who goes by the name of Rulton Fyder, purchased the tape. According to Fyder’s website, he is an anonymous artist “best known for his recontextualisation of other artists’ works to capture time and emotion in the NFT art realm,” though Fyder’s online history only goes back days.
It’s unclear who Fyder is but there is speculation it could be artist Richard Prince, who occasionally goes by the alias Fulton Ryder.
Ripps told Insider in an emailed statement that he’s emailed Fyder but he still doesn’t know who this person is. “The fact they already have a show at an established gallery would tell me its someone established in the art world,” Ripps wrote, “but I really have no idea, could all be some type of ruse who knows.”
Once the sale was completed, Fyder was granted “full ownership of the album, as well as distribution and display rights, and sole access to the audio including a WAV file and the only signed LP vinyl record of the sex tape in existence,” Vice wrote about the sale.
On Wednesday, Banks uploaded a screenshot of the resale of the NFT on her Instagram account, showing it priced at over $260 million.
“Literally – the most expensive NFT ever,” the artist wrote in the caption. “Don’t you love how We came, saw, and conquered this s–t in a matter of 48hrs? The f—ing iconnery.”
Ripps also told Insider he would make a profit off the sale of the NFT. “I am told by the foundation that there is a 10% royalty built into the smart contract,” he wrote in an email. This means he could potentially see $26 million if it is sold.
The Harlem-born rapper then posted another image of a Wikipedia page showing the most expensive art purchases of all-time with her audio NFT sex-tape sitting in fourth place.
The image, however, appears to either be edited, or the Wikipedia edit was short-lived. The tape isn’t currently on the Wikipedia page, and the actual list is for “highest prices paid.” And nobody has actually paid the inflated price for the tape yet.
Banks is no stranger to controversy. She’s been embroiled in many scandals including most recently when she announced her engagement on social media and wrote “I’m Jewish now.” One commenter responded, “It doesn’t work like that” and she shot back with a transphobic rant.
One thing about Azealia — she’s always finding a headline for herself.