Nas may earn over $200 million from Coinbase IPO

After making moves in the cryptocurrency world as early as 2013, Nas’ investment firm, QueensBridge Venture Partners, is set to benefit tremendously on Coinbase’s NASDAQ listing.

The cryptocurrency was valued at $143 million [€119.5 million] eight years ago a small sum compared to today’s $100 billion [€83.5 billion]. According to Hypebeast, the initial Series B round saw QueensBridge invest as much as $150,000 [€125,350] ($1.00676 a share) meaning that his share quantity range is as high as 496,642.

The rap legend’s QueensBridge Venture Partners could see returns of $34.76 million [€29.04 million] to $218.5 million [€182.5 million]. This is dependent on how close the share price meets the $440 target having closed out at $350 on private secondary markets.

Source: Hypebeast