Rapper Ye has launched his own cryptocurrency token, $YZY, which briefly reached a market capitalization of over $3 billion, according to data from Nansen. The token's rapid rise highlights the growing trend of celebrity-backed digital assets in the crypto market. The launch of $YZY adds to the list of celebrity ventures into the cryptocurrency space, as public figures increasingly leverage their influence to create and promote digital currencies. The market's response to $YZY underscores the potential impact of celebrity endorsements on crypto valuations.