When thinking about today, we can officially say that the world has gone crazy for cryptocurrency, then kept the hype going, then accepted it as a part of everyday life. The Internet is filled with videos, propositions, advertisements and articles on the topic of exchange and storage, people are talking about their experience of buying Bitcoins over a coffee in the morning.
In this environment the real-life celebrities could not stay aside. Over the course of last year (or possibly a little bit longer) dozens of famous people joined the movement and supported cryptocurrency, some of them inventing their own coins and some becoming spokespeople for known companies. Little fun fact — there is even a secure from the SEC, warning you, “a celebrity endorsement does not mean that an investment is legitimate or that it is appropriate for all investors.” Our world is crazy, huh?
Actors, athletes, musicians or politicians can provide even the most little known cryptocurrencies with such a power of stardom that investors will throw money at them. This is a good advertisement strategy, but what actually happens afterwards? Here are some examples of stars who started dealing with cryptocurrency as well as their stories:
The Grammy-winning singer had a full idealistic picture of how cryptocurrency can change the life. He explained his position on a blockchain panel titled Branding Africa: Blockchain, Entrepreneurship and Empowering the Future.” Describing the ideas in short, the singer had a vision of a real-life Wakanda (utopian African country from the futuristic movie Black Panther). All the transactions in the town Akon envisioned would be made on the basis of Akoin (great pun, right?). The whole project would rely on the mobile cryptocurrency apps that function as digital wallets. According to the singer’s Twitter, the idea is still under developing and he is attending some blockchain summits to discuss the new city he and his team is going to build.
This media queen just had to be on our list. In September 2017 Paris tweeted about the newly emerging coin called Lydian, saying: “Looking forward to participating in the new @LydianCoinLtd Token! #ThisIsNotAnAd #CryptoCurrency #BitCoin #ETH #BlockChain.” Do not try to find this Tweet though — it was deleted long time ago. Possibly, because the chief executive of LydianCoin had pleaded guilty of domestic abuse. A month and a half later, the SEC issued a statement already mentioned before, urging caution around celebrity-backed ICOs. Many people believe it was actually directed at Hilton.
The boxing star attempted tackling the world of cryptocurrency as well. Mike’s company, named Mike Tyson Bitcoin, offers a Bitcoin ATM and wallets to store and trade the cryptocurrency. In the statement for the app Mike proposed quite a logical idea — “In a few years from now Bitcoin and other digital currency are going to be a normal part of our monetary systems.”
Tyson is not the only athlete promoting the use of cryptocurrency. Football superstar Lionel Messi has become a global ambassador for Sirin Labs, developer of the blockchain-based secure smartphone and all-in-one PC. Lionel is one of the most influential sports star in the world, which explains the fact that the number of people aware of the technology has increased dramatically after Messi’s Instagram and Facebook posts about blockchain.
Ghostface Killah (Wu Tang Clan)
Dennis Coles, also known as Ghostface Killah announced his investment in the cryptocurrency world in October 2017. The star rapper became a co-founder of Cream Capital (the name of a company is a play on Wu Tang Clan’s son C.R.E.A.M. standing for Cash Rules Everything Around Me. Quite a fair name, to be honest. The firm is aiming on building a blockchain ATM network to facilitate the use of coins like Ethereum and Bitcoin. At the time of the announcement the company was aiming to raise $30 million in funding through an initial coin offering. Seems great, but even those close to the company were quite way of Ghostface Killah endorsement.
DJ Khaled, the producer and musician behind hits like “Wild Thoughts,” joined the hype over initially coin offerings, ICO. Those, like the IPOs, are fundraisers for digital tokens. In October 2017 famous DJ posted a picture of himself accompanied by a bottle of Ciroc vodka and a silver payment card. This rather strange image was set to promote the use of Centra, a digital wallet app that allows holders to store digital currency. However, the app did not last too long and was bogged down.
The actor became a formidable technology investor with his venture capital firm A-Grade Investments, which has funded Uber and Airbnb, as well as other companies. Several years ago Kutcher also made a speech on TechCrunch conference, promoting “decentralised technology” that makes Bitcoin possible. “The notion that we could civically monitor each other in an anonymous way actually keeps the anonymity of the Internet. We don’t have to worry about Big Brother. And that same infrastructure that built out Bitcoin could be used in the security industry for mass good,” said the actor in his passionate speech.
Yes, even the Spice Girls are into cryptocurrency now. Mel B, a member of the band some of us are probably too young to know, came out and backed Bitcoin. She actually was the first well-known musician to accept payments via Bitcoin, saying that cryptocurrency has united her international fanbase.
As you can see, the powerful people of the media world are not strange to the crypto. There are also other celebrities like, for example, Gwyneth Paltrow, who own small stakes in crypto currencies. The stories of the stars are quite inspiring. However, listen to SEC carefully before following the example of idols!