Influential celebrities that joined the crypto club over the past year

0
3

The inclusive crypto ecosystem has become home to many A-list celebrities over the years – mainly driven by the non-fungible tokens (NFT) hype of 2021. However, despite the prolonged bear market and an obvious dip in crypto prices, celebrities continue to pour in. support for the crypto market.

Over the past year, celebrities have begun exploring sub-ecosystems beyond NFTs, trying to diversify their presence through trading, gaming and other investment avenues. In this light, here’s an overview of some of the most influential celebrities who have entered crypto over the past year, and how well prepared they are for the upcoming bull run.

Connor McGregor partners with Tiger.Trade

UFC superstar Connor McGregor, one of the highest paid athletes, recently partnered with Tiger.Trade, a crypto trading program. Part of the deal involves McGregor starring in an internal game that users can play to win exclusive prizes.

Before signing on as an ambassador for Tiger.Trade, McGregor’s involvement in crypto was indirect through UFC partnerships with Crypto.com, where bonuses were paid to the fighters in cryptocurrencies.

The recent game launch, although well received by fans for its graphics and awards, was also subject to criticism related to the lack of story. Unlike the majority of top UFC fighters, McGregor has not linked his name with now-defunct NFT projects and continues to maintain secrecy around his cryptocurrency investment choices.

Eminem buys Bored Ape NFT for $460,000

Marshall Mathers, aka Eminem, is one of the rare celebrities who make headlines for investing in NFTs rather than trying to sell their collections. The fifteen-time Grammy winner purchased a Bored Ape ‘EminApe’ NFT for $460,000, which features a gold chain necklace and khaki military cap that Eminem wears in real life.

30f51676 b66a 4fa5 bec4 cc24358ba815

Eminem’s connection with crypto dates back to 2018, when the rapper mentioned Bitcoin (BTC) on his recently released album Kamikaze. However, the subsequent purchase of NFT established his interest in crypto investments. In June 2022, Eminem released a Bored Ape Yacht Club (BAYC) NFT-themed music video featuring rap legend and fellow crypto enthusiast Snoop Dogg.

While Eminem has not publicly shared an affinity for any particular crypto asset for investments, the rapper continues to collaborate with BAYC for live performances.

Maria Sharapova became a strategic investor in Moonpay

Tennis legend Maria Sharapova, along with other A-list celebrities such as Gal Gadot, Bruce Willis and Justin Beiber, have invested in a crypto payment solution, Moonpay. The company revealed that more than 60 public figures and celebrities in the music, sports, media and entertainment industries have joined hands to invest $87 million in Series A funding from November 2021.

The investment marked Sharapova’s entry into the crypto world. However, the superstar is yet to reveal his plans for investments in crypto assets.

Snoop Dogg: The face of Web3 and NFTs

Snoop Dogg’s position as an OG stands true in the world of crypto considering his proactive involvement in the space for many years. Snoop’s first interaction with the crypto community began with him warning against copycats marketing fake Snoop Dogg-branded tokens and NFTs.

After gaining knowledge of the industry, the rapper collaborated with many crypto projects, including crypto exchanges, Web3, games and NFTs, effectively catalyzing the mainstream adoption of crypto.

Most recently, Snoop Dogg announced the launch of a new restaurant in Los Angeles inspired by BAYC NFTs, called Bored and Hungry. Despite the waning of the hype surrounding NFTs, the smoke king continues to show love for the ecosystem.

Floyd Mayweather is making a cryptic comeback

Legendary boxing champion Floyd Mayweather marked his entry into the cryptoverse in 2018, promoting a high-profile crypto scam called Centra Tech. Legal implications of promoting unverified crypto projects required Mayweather and co-promoter DJ Khaled to pay fines of $600,000 and $150,000, respectively.

Learning from his previous mistakes, Mayweather launched a new NFT project Mayweverse – consisting of a collection of 5,000 NFTs. The box of the boxer in involvement with projects that have carpet investors, left his fans and the general public with mixed feelings about the new crypto project.

Matt Damon chooses philanthropy through crypto donations

Hollywood superstar Matt Damon received $1 million in donations from crypto exchange Crypto.com for Water.org, a clean water initiative co-founded by Damon and Gary White in 2009. As part of the deal, Crypto.com endorsed its user base chip. in for the cause.

a81fa9e9 a9d1 450b 8d37 5db877c03b89
Matt Damon starring in a Crypto.com commercial. Source: YouTube

Although Damon has not disclosed his crypto investments, his participation in Cypto.com commercial attracted criticism from the majority of the crypto community. Investors countered Damon’s suggestion that “Fortune favors the brave” as the bear market resulted in massive losses across the industry.

Related: Celebrity NFT brands: How celebrities can promote the NFT space

Against the rising trend of celebrity-endorsed NFT projects, consumer watchdog group Truth in Advertising (TINA.org) called out 19 celebrities promoting NFTs without disclosing their connection to the projects.

The not-for-profit consumer rights company has revealed its intention to investigate celebrities who promote “fraudulent” crypto investments. The website states:

“The advertiser often does not disclose a material connection to the approved NFT company.”

Responding to TINA.org’s letters related to the promotion of NFTs on their social media without disclosing their relationship to the projects, Justin Bieber’s legal team responded by denying any wrongdoing. However, the team confirmed to update the posts on social networks.