Songfacts®:

• The first release from Rodeo, Scott debuted the nearly eight-minute track during his June 7, 2015 performance at Hot 97's 2015 Summer Jam concert.
• Scott contributes the hook and the first verse. The Atlanta-based rappers, Future and 2 Chainz, also spit a verse each.
• Scott works as an in-house producer for Kanye West's GOOD Music and the song title refers to the news that Yeezy's wife, Kim Kardashan, bought a $3,500 fur coat for their daughter North West. Dropping that kind of money on a toddler demonstrates great wealth, a trait that Scott evidently admires in the couple.
• This was originally intended to be on Kanye West's album. Scott told Billboard magazine it was "something I did in Malibu." He added, "That beat sounded completely different. That hook came 'cause Ye put my verse in the ASR and chopped it up. That was going to be his single but he was working on his album so long and my album was coming up, so I was like 'Yo, I wanna f— with this.' I was supposed to get a Ye feature for that and I ended up re-doing the beat."
  
• Allen Ritter (Chris Brown's "Back to Sleep," Meek Mill's "R.I.C.O.") co-produced the song. It was one of ten Rodeo tracks he contributed towards. Ritter told Genius about his work with Travis Scott: "At the end of 2014 he had me stay at this house. There was this studio downstairs and rooms upstairs. Every day we would come down and work with him. Every song he'd show me, I'd play keys and had beats for him.
  
  On '3500,' there are synths and a bell that I put in there. The '500 on the plug' whatever he's singing over, I played that. It was a three-four month process of working with Travi$. That's why I got on so many songs."