In addition to the physical board, the hitherto anonymous buyer also received a digital variant in a hyper-trendy NFT form, writes Consequence of sound.
The purchase was made via the rapper's new NFT company Kickflip, where artists will be able to sell their works in digital form.
NTF stands for "non-fungible token", which can be described as a proof of authenticity in the cyber world.
"Fuck this painting"
The purchase also included a physical piece of paper where Ja Rule wrote "Fuck this painting", which seems to summarize his feelings about the failed festival and the energy that the painting spread in his home in New Jersey.
Took place in 2017
Yes Rule arranged Fyre Festival 2017 together with the entrepreneur Billy McFarland, who is in prison for several cases of fraud.
It was sold as an exclusive luxury festival on a paradise island, but the well-to-do visitors were met instead by a windswept tent camp where cheese sandwiches were served in Styrofoam boxes.
The failure has been portrayed in two different acclaimed documentaries.