Biggie in black suit and colorful sweater
Source: OneOfNFT Twitter

Biggie NFTs That Dropped at $100 Now Priced in the Millions

Ruchi Gupta - Author
By

Jul. 28 2022, Published 7:45 a.m. ET

The Notorious B.I.G. NFT drop, “Sky's the Limit,” turned out to be a major hit, with the tokens selling out in minutes. You can still buy the NFTs on the secondary market, but at a significant markup.

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Rapper Christopher Wallace, also known as Notorious B.I.G. or Biggie Smalls, died in shooting incident in 1997. The Biggie NFTs are images of the legendary rapper, tied to a famous Biggie freestyle rap that hasn’t been officially released. The recording, "Fulton Street Freestyle," was filmed at a Brooklyn corner when Notorious B.I.G. was only 17 years old.

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Source: Twitter
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The “Sky’s the Limit” Notorious B.I.G. NFT collection

Biggie's family and estate partnered with Web3 crypto startup OneOf to release an NFT collection in honor of the late rapper. The project, which dropped 3,000 tokens featuring a variety of the late rapper’s images, will donate a portion of its proceeds to Biggie’s memorial foundation.

OneOf has acquired the exclusive licensing rights to Biggie’s "Fulton Street Freestyle" recording, meaning it can sell and license the recording to DJs, other artists, and music streaming platforms. But for such deals to be completed, Biggie NFT holders would need to approve it—holding an NFT gives them 80 percent of the voting power on deals.

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NFT holders to also get early access to the Biggie metaverse

Holders of the Biggie NFTs will also get early access to a metaverse inspired by the late rapper, Brook Metaverse. Set to launch in fall 2022, it will allow fans to tour Biggie’s virtual world in their avatar forms. The metaverse, Web3, and NFTs have become concepts of great interest to fans, investors, and brands. The metaverse, championed by tech giants such as Facebook, is predicted to grow into a $13 trillion economy in the coming years.

The Biggie NFT drop price of $100 fueled a buying frenzy

The "Sky’s the Limit" NFT project priced the Biggie tokens at $100 each for the drop, and they sold out in only 10 minutes. Some early birds have now listed their tokens for resale in the secondary market, where the floor price is about $114. Many tokens are priced above $1,000, but some are as much as $9 million.

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