One of Nas’ early investments may be paying off in a big way. In a report by Yahoo Finance on Monday (April 12), Coinbase, a cryptocurrency exchange, is expected to reach over $100 billion in valuation once it hits the Nasdaq this week.
Nas’ involvement comes from his investment firm, Queensbridge Venture Partners, which got into Coinbase’s Series B round in 2013 when it raised $25 million. The cryptocurrency exchange was valued at $143 million at that time.
According to Queensbridge Venture Partners co-founder Anthony Saleh, the investment firm makes early-stage investments of between $100,000 and $500,000. According to an analysis by CoinDesk, at the time the firm got its stake in Coinbase, the share price was $1.00676, and Queensbridge owns around 99,329 or 496,642 on the low and high end, respectively.
At the price that Coinbase last traded on private secondary markets, which were $350 per share, Nas and his firm would clock in somewhere between $34.76 million and $173.8 million.
If Coinbase decides to trade with investment bank DA Davidson’s new price of $440, Nas can see his investment rise from $43.7 million to an insane $218.5 million.
What Is NFT & How Are Rappers Such As Post Malone, Lil Yachty, Azealia Banks - Even The Late MF DOOM - Cashing In?
Nas may want to take this huge payout and look into non-fungible tokens (NFT’s), the new cryptocurrency craze that’s sweeping the music industry. NFT’s are like collectible sports cards — and essentially serve as a digital certificate of authenticity for “an object, real or virtual,” a tech expert said in the L.A. Times. An artist can use an NFT to create a virtual concert experience or use it as a collectible token that gives its owners access to exclusive content.
Funny how 10 years ago everybody was so concerned with Nas’ pocketbook in comparison to Jay Z’s. Seems like Nas is doing alright for himself while continuing to put out solid albums.
Facts, bro!
That part
And all this time I thought Nas was broke.. Joke’s on me!
No doubt that malignant cu nt Kellis will try to get her hands on it
Yeah, all everyone is talking about in the Crypto world is the coinbase ipo. If Nas invested back in 2013, he should have made a pretty penny already, but by this time next month he’ll be swimming in capital gains. Good for him, I wish I had financial advisors as good as he does.
Nas will not lose!
Nas getting that money. Never too late to start investing. GOAT!
Where’s the King Hov clown? Him and Byron Crawford going to have a hard time explaining this.
Hehe Nas haters real mad right now. Nas is a smart brother and deserves his success
Soon or later y’all see who the prophet is!!!!!
Lol. Yes sir
This guy has the most haters in rap history. But if you look without bias, his body of work makes him GOAT. Other metrics like money, labels, businesses, etc he checks every box. Funny part is most people don’t know and still be like Nas broke or he won the battle but lost the war with Jay. Jay is 4-5 years older than dude and my guess is after Robinhood goes public and some of the others dude will be edging closer to the billion mark. I love to see a legend doing great. At this point anyone hating on dude has issues.
How could y’all ever doubt the first rapper to bring a platinum plaque back to the projects! ???#NasiisBeast!?
Nas also invested in Robinhood in 2014 I believe. When they go public in a few months, he getting a big money big.
kelis coming for that money
Nas is like “I never fail”