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10 Jan – Despite selling out the non-fungible token (NFT) series called Phanta Bears, Jay Chou's camp recently stressed that the singer did not profit from the sales at all.
In a statement released by his record label JVR Music, the company stated that the NFT was not launched by the Taiwanese multi-hyphenate himself but via his fashion brand PHANTACi, and that he did not earn a dime from it.
"We're very happy with the success of the NFT, but Jay has not participated in any planning and operation of this business activity nor has he made any profit," the company added.
On the other hand, Mark Geng, the spokesman for the platform Ezek where the NFT was debuted, stated that they will respect JVR's statement and thank everybody for affirming the value of Phanta Bear digital art.
It is noted that 10,000 pieces of the Phanta Bear NFTs were sold in less than 40 minutes, earning Jay's fashion brand PHANTACi USD 10 million, with each bear sold for 0.26 ETH, equivalent to nearly USD 1,000 dollars.