Taiwanese pop star Jay Chou’s fashion brand Phantaci and an NFT company Ezek jointly released a new digital avatar called “Phanta Bears” on New Year’s Day and sold 10,000 copies. Ezek is co-founded by Chou’s friend Will Liu. Chou has since changed his Instagram profile picture to the digital bear to show support. The digital bears traded at 0.4 ETH on Monday, up from the insurance price of 0.26 ETH, or about $1,000. On Monday, Chou’s music label company JVR Music released a statement saying that Chou has no business ties with Phanta Bears but is happy for his friend’s success. [SCMP]

Update: The feed is updated with JVR Music’s statement.