Amid an ongoing crypto-related lawsuit filed against Soulja Boy in March, it has now been alleged that the rapper may have promoted as many as 73 crypto projects in the past two years.
Blockchain investigator, Zachxbt, shared a master list of cryptocurrency projects that have been endorsed by Soulja Boy since 2021. The musician promoted at least 73 crypto projects, and conducted as many as 16 NFT drops.
“… he has been one of the most shameless promoters in the crypto space,” Zach alleged.
As an artist based in the US, blockchain investigator Zach claims that Soulja Boy “is supposed to be following FTC guidelines yet has ignored them.”
According to the list, Soulja Boy’s promotional content on crypto had mostly been on Twitter. The Kiss Me Thru The Phone singer would send out tweets from his personal account that boasts a large 5.4 million followers.
The most recent instance of crypto promotion occurred a few days ago, when the rapper promoted two NFT collections named ‘Little Soulja’s NFT’ and ‘Soulja Boy 3D Game NFT’. At the time of writing, the collection has recorded a total trading volume of 10 ETH or US$19,590 (AU$29,100).
In fact, so frequent are Soulja Boy’s NFT drops that his account was apparently once banned by OpenSea, the largest NFT marketplace in the space.
How much was he allegedly paid?
In the most recent lawsuit, Soulja Boy, alongside Jake Paul and Lindsay Lohan, is being sued for endorsing cryptocurrency $TRON “without disclosing that they were compensated for doing so and the amount of their compensation.”
Exactly how much Soulja Boy was paid to promote $TRON remains unclear. However, during the last crypto bull run that took place in 2021, Soulja Boy reportedly charged up to US$12,000 on Instagram, and US$10,000 on Twitter for promoting crypto, according to Zach.
Zach estimates that at the time, the rapper could have made a grand total of US$730,000 just by sharing social media posts.
A week after news of the $TRON lawsuit, Soulja Boy proceeded to launch three more NFT collections – all in the same seven-day span.
Aside from the pending class action lawsuit, Soulja Boy has yet to face any legal action relating to his crypto and NFT promotional activities.