Legacy Records CEO, Keishia McLeod, joins the ranks of Justin Bieber, Gwenyth Paltrow and other Hollywood stars in purchasing a Bored Ape Yacht Club NFT.

McLeod purchased the prominent ‘Elton John inspired Bored Ape’ non-fungible token (NFT) for $260,000 Friday evening or approximately 100 ETH.

After Bieber’s purchase, his Bored Ape investment is valued at approximately $1.3 million today.

NFTs are growing in popularity and rising in value day by day since the hype has soared into the realms of elite powerhouses.

NFTs are generally purchased on platforms with the Ethereum (ETH) cryptocurrency as it’s source of payment.

Keishia explained that she in the Bored Ape NFT because she “knew that it was the right time to delve more into the NFT market since Ethereum prices have dropped in the past month.”

Legacy Records is the first record label to pay its artists in cryptocurrency, and utilizes NFTs to help their artists and employees create their own business ventures.

“This purchase solidifies the enthusiasm our artists have for NFTs and the crypto markets,” said McLeod. “It was an exciting buy for me as I am a huge Elton John fan. It was definitely my two worlds colliding.”

One ETH coin is valued today at approximately $2,583.20, yet the price changes slightly each second.

Buying a Bored Ape NFT today would cost a consumer over 500 ETH to obtain one of these JPEG files.

Legacy Records continues to dominate the crypto space in regards to the music industry and find new and innovative ways for their artists to become entrepreneurs while teaching them the skills to develop life-long wealth.