Long before cryptocurrency captured the mainstream spotlight, Nas saw its potential. The rap legend, through his venture capital firm QueensBridge Venture Partners, poured $500,000 into Coinbase during its 2013 Series B funding round — a time when few investors were willing to bet on the fledgling industry. That high-risk wager has now paid off in spectacular fashion.
According to details of the investment, QueensBridge participated in Coinbase’s Series B, which raised $25 million at a post-money valuation of approximately $143 million. The firm’s typical early-stage checks ranged between $100,000 and $500,000, placing Nas and co-founder Anthony Saleh’s contribution at the upper end of their strategy. At the time, shares were priced around $1.00676 each, giving QueensBridge an ownership stake estimated at roughly 497,000 shares.
Fast forward to April 2021: Coinbase made its Nasdaq debut via a direct listing, opening at $381 per share and briefly soaring above $429 intraday. The company’s valuation skyrocketed past $100 billion at its peak on day one. At those optimistic trading levels, QueensBridge’s position ballooned to a reported value of around $100 million — and as high as $170 million to $200 million-plus depending on exact sale timing and prices, representing a return of hundreds of times the original investment.
Nas publicly marked the occasion with celebratory tweets, including the memorable line: “Long crypto forever… in sickness & in health.”
The move underscores Nas’ growing reputation as a savvy tech investor beyond his iconic music career. QueensBridge Venture Partners, which he co-founded with Anthony Saleh in the early 2010s, has also backed other major successes including Robinhood, Dropbox, Lyft and Ring — the latter of which was acquired by Amazon and reportedly delivered Nas at least $25 million personally.
With a net worth often estimated around $200 million, Nas has parlayed his hip-hop legacy — built on landmark albums like Illmatic — into a diversified business empire that includes music catalog sales, touring, and venture capital. His early conviction in Coinbase came partly through industry relationships, including ties to prominent Silicon Valley figures like Ben Horowitz of Andreessen Horowitz, a key Coinbase backer.
While exact details on when or if QueensBridge sold portions of its Coinbase stake remain private, the firm has listed the investment as an exit. Coinbase’s post-IPO path has been characteristically volatile, dipping during the 2022 crypto winter before seeing renewed strength in subsequent years. Still, the paper gains from the 2021 listing represent one of the most notable success stories linking hip-hop and high-stakes tech investing.
Nas’ Coinbase windfall serves as a prime example of how artists are increasingly treating their platforms as launchpads for broader entrepreneurship. In an era where musicians are building empires across multiple industries, the Queensbridge icon’s bold 2013 bet stands out as a masterclass in visionary, long-term conviction.
