American rapper Kanye West (Ye) is set to launch the YZY token for his Yeezy clothing brand. The coin will serve as a payment method in the company’s online store, reports CoinDesk, citing sources.
It is expected that 70% of the tokens will remain with Ye, 10% will be allocated for liquidity provision, and 20% for investors.
The launch of YZY was initially planned for February 20 but was postponed to February 21, according to a team member who wished to remain anonymous. CoinDesk sources also confirmed that the project is inspired by the meme coin TRUMP, launched by U.S. President Donald Trump.
The token is reported to help West bypass platforms like Shopify, which severed contracts with the rapper due to his controversial statements.
Crypto-assets associated with politicians and celebrities often experience a brief price surge before losing much of their value, leaving users with losses. The centralized distribution of YZY increases the risk of sudden price drops.
According to sources, West’s 70% share is structured with a multi-stage vesting schedule—some coins are locked for up to 12 months. Critics argue that such insider distributions favor founders over retail investors.
It is also reported that the YZY launch was postponed several times to distance itself from the scandal involving the meme coin LIBRA, indirectly linked to Argentine President Javier Milei.
LIBRA was launched on February 14 on the Solana blockchain. Lookonchain reported that some users recorded significant losses from investing in the token twice. Nansen reported LIBRA traders’ losses amounting to $251 million.