Ted Lucas will always have Peanut Butter Jelly Time.
In an interview with Complex, the Slip-N-Slide Records founder revealed that he created an non-fungible token (NFT) of the iconic meme that was one of the first-of-its-kind on the Internet.
“That dancing banana has been one of those memes that’s been catchy for years and we just thought about it,” he said to the outlet. “Now we put our heads together as a team. I think one of the [Peanut Butter Jelly Time meme] videos got over 300 million views, it’s crazy. Just a dancing banana and people reading the lyrics to the song. I can say, over the pandemic.”
Ted Lucas was responsible for launching the careers of hundreds of rappers in Slip-N-Slide’s prime — the label gave its start to the likes of Trina, Plies, Trick Daddy, and F$O Dinero — and his investment in NFTs was, he said, another way of creating an income for the label.
He also said that it was a risky proposition, and he “had his grandmother praying” that it would prove to be successful.
While it’s unclear what Ted Lucas ultimately hopes to do with the Peanut Butter Jelly Time NFT — will he keep it, or will he sell it? — he is correct in the assumption that NFTs are risky.
As previously explained by AfroTech, NFTs are certainly a popular investment today. Everyone from Waka Flocka to Warner Brothers are getting in on the craze. But while some experts believe that it will be a wise investment for the future, others are not so sure.
“Collectibles are an integral part of wealth. There are financial funds invested in digital collectibles,” said Bettinna J of BettyMedia, who added that the nature of blockchain would make NFTs a profitable proposition in the future.
But Damon Abramson of Harmony Technologies is not as optimistic. “I see NFTs going away,” he said. “Think about it, generally, this is how we place value on things. They are unique and not everyone can get them. The NFT situation is, okay it’s unique, but everyone can make a copy of it. It’s not like you can charge me in a museum to see your digital art.”
It remains to be seen if Ted Lucas benefits from this iconic NFT.