For music-related updates, check out Complex Music's live-blog as well. You can watch the entire event for free via Tidal up top.
5:47 p.m.: That about wraps things up. As other things pop up, we'll be sure to update. But stay tuned for more info and hopefully a damn album release sometime soon.
5:39 p.m.: Kanye says he's lowering the prices of Yeezys and that he told Anna Wintour backstage that his dream is to be the creative director of Hermès.
5:35 p.m.: Kanye Just showed off a preview of a video game? I thought this was an album release and fashion show? What is going on? DONDA is now making video games. It's called Only One: The Game.
5:28 p.m.: Kid Cudi with the legendary Daniel Boone hat.
5:20 p.m.: Kanye is talking to the crowd about the new collection and thanking Carine Roitfeld, calling her a "real bitch" for the Yeezy Season 2 spread in CR Fashion Book and putting Kim on the cover, he also thanked Olivier Rousteing for making the family's outfits for the day and telling the crowd to respect Michael Jordan after leading them in a brief "fuck Nike" chant.
5:11 p.m.: A look at the new footwear
5:05 p.m.: A pretty bright and clear look at the clothes here with better lighting and a look from the side.
5:03 p.m.: Some models have opted to sit—for good reason. it looks hot as hell there.
5:01 p.m.: Ian Connor of course on stage, smoking and decked out in beige and shearling.
4:52 p.m.: Looks like true supermodel Naomi Campbell is in the cut too, rocking the fur.
4:45 p.m.: The tents are off and we're underway. It's pretty much just going to be a photo-fest at this point. Get ready for updates. Lot of form-fitting gear, a little more color and pattern than the first two seasons, but nothing all that different thus far. Though to be fair, we can't get very close at this point.
4:43 p.m.: Looks like all the West-Jenner-Kardashians are in white. Here's a photo of Kendall carrying North through the crowd.
4:39 p.m.: Sounds like the listening party has officially begun. The Tidal stream is struggling for us. Hopefully it's working for you.
4:35 p.m.: Here's a look at some Yeezy Season 3 clothes on racks! Exciting!
4:31 p.m.: Olivier Rousteing joins the cavalcade of big-name fashion people in the mix.
4:22 p.m.: It wouldn't be a Yeezy fashion show if Anna Wintour didn't show up. She's there once again of course. That blur, yea, that's her. You can tell from the signature bob. And it looks like those enormous tarps from before will covering the models, who are in line heading underneath them right now. It seems like the show may be starting sort of soon? *crosses fingers*
4:11 p.m.: A set of rules was posted on someone's Snapchat, which was then posted to Twitter (technology!!!!). It looks like a set of rules for those models and extras that Kanye put the casting call out for. Whatever you do, no sexy posing and do not act cool.
3:55 p.m.: T-minus five minutes till this whole shindig "starts" we have a bunch of people at Madison Square Garden that will hopefully send through some fire firsthand photos. Keep an eye here and on our Twitter feed for that. Here's a shot from the lower section near the floor from our editor Steve Dool.
3:53 p.m.: There's literally zero chance of this whole thing starting on time, the real question is just how late is it going to start? But the Tidal stream is actually working, so we have that working in our favor. Attendees are getting "festive" I guess you would call it?
3:38 p.m.: Here's what it looks like inside Madison Square Garden right now. A couple of huge-ass tarps covering something.
3:10 p.m.: Kanye just unveiled the album cover for The Life of Pablo, which was done by Peter De Potter. De Potter is an artist who has worked with Raf Simons previously, starting around 2001 according to Interview and Raf has used his designs on clothing, invitations and "corporate imagery" as well as Raf's book "Redux" and his installation at Pitti in 2005.
3:00: There are already some really long lines at Madison Square Garden to get their The Life of Pablo and Yeezus merch which looks VERY BornxRaised. Hoodies are $90, long-sleeve shirts are $40.