And diamond chains was for kings and queens
But since we got to 'em they'll never be the same

from Lupe Fiasco – Hood Now (Outro) Lyrics on Rap Genius

Meaning

Prior to the advent of hip-hop culture in black communities, the wearing of diamonds and chains were seen as a symbol of high social status comparable to royalty. Nowadays they are as essential as basic clothing to many black men and even some females, causing diamond chains (or “ice”) to be more associated with they stereotypical black man

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