Recently, well-known figures in the American music and fashion industries, Kanye West, announced on social media the launch of a crypto assets project named YZY MONEY, with the token symbol $YZY. This news immediately caused a huge reaction in the crypto assets market, with the market capitalization of $YZY surpassing 3 billion dollars in just half an hour. Although it subsequently retraced, it still remains at a high level of around 1.7 billion dollars.

According to information from the YZY MONEY official website, the token allocation plan for the project is as follows: 20% for public issuance, 10% for the liquidity pool, 30% owned by Yeezy Investments LLC (with a 3-month lock-up period, followed by a 24-month linear release), 20% allocated to the team (6-month lock-up, 24-month linear release), and the remaining 20% as an ecological development fund (12-month lock-up, 24-month linear release).

In addition to issuing Crypto Assets, YZY has also launched two payment products simultaneously. Ye Pay is a low-fee encryption payment processor designed to provide merchants with convenient integration solutions, with fees lower than the 3.5% of traditional payment platforms. YZY Card is a non-custodial debit card that allows cardholders to spend $YZY and USDC directly at numerous merchants worldwide.

However, this project has also sparked some controversy and skepticism. Some analysts point out that the liquidity pool at the project's initial stage only contained $YZY, with no USDC, which may pose a risk of the developers withdrawing liquidity at any time. Additionally, there are signs that some large wallets began buying in before the announcement was made, earning considerable profits in a short time. Furthermore, concerns have been raised about the concentration of Token holdings, with estimates showing that approximately 94% of YZY is held by insiders.

Kanye West's star power has undoubtedly brought a tremendous amount of attention to $YZY, but whether this project can truly realize its claimed value or will ultimately become just another fleeting hype remains highly uncertain. Some observers believe it could become a groundbreaking case in the field of trend payments, while others worry it might just be a passing fad.

In any case, Kanye West's move into the Crypto Assets field undoubtedly brings new topics and reflections to the intersection of the traditional entertainment industry and emerging financial technology. Over time, the true value and influence of $YZY will gradually emerge, and whether this project can establish a foothold in the fiercely competitive Crypto Assets market remains to be seen.