Over the years, the inclusive crypto ecosystem has attracted a slew of A-list celebrities, owing primarily to the nonfungible tokens hype of 2021. Despite the prolonged bear market and the obvious drop in prices, celebrities continue to show their support for the market.
Celebrities have begun to explore sub-ecosystems outside of NFTs in the last year, attempting to diversify their presence across trading, gaming, and other investment avenues. In this light, here's a look at some of the most influential celebrities who have gotten into crypto in the last year and how well-prepared they are for the next bull run.
He is one of the highest-paid athletes around the world and recently partnered with Tiger.Trade, a cryptocurrency trading app. McGregor will appear in an in-house contest that users can participate in to win exclusive prizes as part of the deal.
Prior to becoming an ambassador for Tiger.Trade, McGregor's involvement in cryptocurrency was indirect, owing to UFC partnerships with Crypto.com, which paid fighter bonuses in digital assets.
Marshall Mathers, aka Eminem, is one of the few celebrities who has made headlines for investing in NFT rather than selling their collections. The fifteen-time Grammy winner paid $460,000 for the Bored Ape Yacht Club (BAYC) EminApe NFT, which depicts Eminem's real-life gold chain necklace and khaki army cap.
Eminem's involvement with digital assets dates back to 2018 when he mentioned Bitcoin (BTC) in his recently released album Kamikaze. The subsequent NFT purchase, on the other hand, cemented his interest in digital investments. He released a BAYC NFT-themed music video in June 2022, which featured rap legend and fellow enthusiast Snoop Dogg.
While he has not publicly expressed a preference for any specific asset for investment purposes, the rapper continues collaborating with BAYC for live performances.
Tennis legend Maria Sharapova and other A-list celebrities such as Gal Gadot, Bruce Willis, and Justin Beiber have invested in MoonPay, a payment solution. More than 60 public figures and celebrities from the music, sports, media, and entertainment industries have joined forces to invest $87 million in a Series A funding round beginning in November 2021, according to the company.
Sharapova's investment marked her first foray into the crypto world. The superstar, however, has yet to reveal her plans for investing in digital assets.
His status as an OG in the digital world is justified, given his long-term involvement in the space. Snoop's first interaction with the community began with him warning against impersonators selling counterfeit Snoop Dogg tokens and NFTs.
After learning about the industry, the rapper worked on a variety of projects, including exchanges, Web3, games, and NFTs, effectively intensifying the mainstream adoption of cryptocurrency.
He recently announced the opening of Bored and Hungry, a new restaurant in Los Angeles inspired by BAYC NFTs. Despite the waning interest in NFTs, the smoke king remains committed to the ecosystem.
The legendary boxing champion entered the crypto-verse in 2018, promoting Centra Tech, a high-profile scam. Due to the legal ramifications of promoting unvetted projects, Mayweather and co-promoter DJ Khaled were fined $600,000 and $150,000, respectively.
Having learned from his previous mistakes, Mayweather launched Mayweverse, a collection of 5,000 NFTs. Due to the boxer's track record of being involved in projects that have rug-pulled investors, his fans and the general public have mixed emotions about the new project.
Water.org, a clean-water development co-founded by Damon and Gary White in 2009, received a $1 million donation from cryptocurrency exchange Crypto.com. As part of the agreement, the platform suggested that its user base contributes to the cause.
Although Damon has not disclosed his investments, his appearance in a Cypto.com commercial drew criticism from most of the crypto community. As the bear market contributed to massive losses across the industry, investors retaliated against Damon's recommendation that "Fortune favors the brave."
In an effort to counter the dramatic rise of celebrity-backed NFT projects, consumer watchdog group Truth in Advertising (TINA.org) named 19 celebrities for promoting NFTs without disclosing their involvement.
The non-profit consumer advocacy organization has announced its intention to look into celebrities who promote "deceptive" investments. The website states, "The promoter frequently fails to disclose any material relationship with the endorsed NFT company."
Justin Bieber's legal team denied any wrongdoing in response to TINA.org's letters regarding promoting NFTs on their social media accounts without disclosing their connection to the projects. However, the team has confirmed that the social media posts will be updated.
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