Kanye West gets his own virtual currency...The Coinye West

New virtual currency to coin in with rapper Kanye West

A new virtual currency that declares itself inspired by singer Kanye West is set to launch next week.

The Coinye West hopes to emulate the success of other virtual currencies such as Bitcoin.

Contrary to what its name would suggest, the online business is not affiliated with Kanye West, but its creators hope to win the rapper’s approval.

In an interview with Vice's music channel, Noisey, creators said: “We chose to represent Kanye because he is and always has been a trendsetter, and he’s always keeping things unique.”

They say they can “picture a future where Coinye is used to buy concert tickets, with cryptographically verified virtual tickets.”

They have offered the controversial star 100,000 Coinye ahead of the launch on 11 January, under the slogan “WE AIN’T MININ’, WE PICKIN’.”

Asked if they feared the reaction from West, known for his short temper, the creators, who have stayed anonymous, claimed he is “ going to love that there is a currency named in his honour.”

But admitted West isn't one to mess with and hope that the Grammy winner doesn't get "p***d off".

Coinye West has not provided further details about its operations or how many people are involved. Kanye West is yet to comment.