In brief

  • Comedy icon Steve Harvey has launched a line of NFTs.
  • The Steve Harvey NFTs will raise money for the nonprofit Steve and Marjorie Harvey Foundation.

Comedy legend Steve Harvey is raising money for the Steve and Marjorie Harvey Foundation by selling a new line of non-fungible tokens (NFTs) featuring the comedian.

While many celebrities have jumped on the NFT bandwagon, Harvey’s NFTs are a charitable effort rather than a cash grab—he also holds and believes in cryptocurrency. “I own Bitcoin and Ethereum," Harvey told Decrypt via email. "I don't prefer one over the other. These are the two I've done the most research on." 

Harvey’s NFT line launched on Rarible on May 14. He went with Rarible because “they were the most open to collaborating with us," Harvey said, and because he views Rarible as more user-friendly “for people without experience. Easier entry point, ease of service.”

NFTs are blockchain-based digital tokens that represent ownership deeds tied to digital or physical assets. They’ve become an extremely popular way for celebrities, entertainers, athletes, and consumer brands to sell memorabilia to fans.

The “Kings of Comedy” star and host of the “Steve on Watch” Facebook show tells Decrypt it was his chief of staff and business advisor, Thabiti Stephens, who turned him onto NFTs. Harvey added that he and his team started looking at tech investments four years ago and that he sees NFTs as the next iteration of his tech endeavors.

Founded in July of 2019, Rarible has become a popular place to host, buy and sell NFTs, a booming market where more than $1 billion has been spent on NBA Top Shot NFTs and CryptoPunks NFTs alone, according to all-time stats from DappRadar.

"We're honored to host Steve's first NFT drop," said Rarible co-founder Alexander Salnikov in a statement. "He's a trailblazer and a global voice who speaks to people everywhere. We cannot wait to see the reaction from our global user base."

While NFTs are currently red hot and all over the media, Harvey wants to be clear: his goal is to give back to those less fortunate through his foundation. "As a boy growing up in Cleveland, I never had the newest things but I've always been interested in learning and doing better," Harvey said in a press release. "So I'm excited about NFTs and this new opportunity to give back via the Foundation, while also bringing awareness to this new technology."