Recent confusion regarding the alleged demise of internet-famous teen rapper Lil Tay has extended into the cryptocurrency space, with multiple Lil Tay-themed tokens coming to the fore.
In response to erroneous reports of the 14-year-old rapper’s death, which were later disproven, an unofficial “LilTay” cryptocurrency token was introduced on BNB Chain. This token, with a supply slightly exceeding 100 units, was launched opportunely and is yet to be traded. The motivation behind this token’s creation remains undisclosed, although it could be linked to cryptocurrency “degens” seeking to exploit the buzz around Lil Tay’s alleged demise or to pay tribute to the influencer.
Coinciding with the BNB Chain token launch is the development of an Ethereum-based “Liltay Token,” seemingly initiated by her former manager, Harry Tsang. Tsang clarified that his Liltay Token is distinct from the BNB Chain version.
Tsang, the CEO of Liltay Token, highlighted the utilization of “Liltay” as an homage to a legendary meme and his past role. He expressed no certainty over whether Lil Tay herself, whose real name is Tay Tien, is connected to the upcoming Ethereum token project. Nonetheless, the token’s Twitter account has consistently shared updates about its development, predating the recent fake death controversy.
Despite efforts to glean clarity from Lil Tay’s representatives, responses are still pending. The teen’s official Instagram account was temporarily updated with a false announcement of her and her brother’s death, causing confusion among news outlets.
On a positive note, Lil Tay refuted the rumors in a statement to TMZ, asserting that her Instagram account was hacked to spread misinformation.
The BNB Chain token launch coincided with the dissemination of the erroneous Instagram post. The timing could have capitalized on the confusion surrounding Lil Tay’s reported death, and also aligned with the Ethereum token’s upcoming launch.
The Ethereum token, however, is yet to finalize a launch date due to plans involving crypto influencer partnerships and token launch features, including a merchandise shop. Despite the evolving situation, Tsang clarified that he has no intentions of making it a pump-and-dump scheme.
In the cryptocurrency realm, the emergence of tokens inspired by celebrities or real-world events is a recurring trend. Meme coins, deriving their names from famous individuals or internet memes, are not unprecedented. These tokens often evoke both popularity and skepticism, exemplified by the recent influx of fake PYUSD tokens following PayPal’s PYUSD Stablecoin announcement.
The Lil Tay saga echoes the broader challenges associated with cryptocurrency tokens rooted in pop culture, hinting at both the potential for genuine endeavors and the risk of exploitative ventures.
