If by any chance you have thought that crypto frenzy among celebrities is over, think again. Given everything that is going on in the world, just like any other individual would do, an average celebrity is thinking about how to protect its wealth, and multiply it by investing smartly. A lot of them are also entering partnerships for public offerings of tokens and digital coins. Some you have forgotten about, and whose career is long over, are jumping on the crypto train and using their old name in order to ass some marketing to the coins they launched themselves.
Why is it a smart idea to invest in digital currencies?
Well, we’re all clear that the future is digital in every sense. And these are entirely free of any country’s control, making them a revolutionary financial means. Moreover, many find alluring the fact that so many other smart investors have managed to make quite a lot of money from crypto. One doesn’t even have to have experience in trading, because of automated apps that do all the work for them. If you want to find out more about what these are, read more here.
So, below we give you a list of popular names, who have been dealing with crypto for some time now.
1. Floyd Mayweather
This famous boxer has backed several public offerings of digital coins and last year gave himself the nickname Crypto. Centra, one of the cryptocurrencies he supported, earned a lawsuit from the U.S. regulatory agency Securities and Exchange Commission. It turned out, among other things, that they invented an agreement with the card companies Visa and Mastercard regarding the exchange of the Center, as well as people who worked on the development of cryptocurrency, and also paid celebrities for support. Hubii, also Mayweather’s favorite among cryptocurrencies, failed after failing to raise even a fifth of the requested $ 50 million through a public offering.
2. Akon
This singer does not lack imagination, that’s for sure. He envisioned an entire city – named it Wakanda, modeled by the movie Black Panther – in which all transactions would be done using the cryptocurrency akoin and applications that would serve as digital wallets. According to his tweets, he regularly attends blockchain conferences to make his dream come true.
3. Ghostface Killah
A couple of years ago, Ghostface Killah launched its own digital cryptocurrency CREAM, named after the Wu-Tang Clan song of the same name, only C no longer meant cash but crypto. A month later, the sale of that cryptocurrency was suspended, and its value fell sharply.
4. Steven Seagal
A famous action movie hero became the ambassador of a cryptocurrency called Bitcoin a couple of years ago. However, this partnership was doomed to fail. Seagal soon parted ways with the founders of Bitcoin. Since then, he has been mostly quiet on Twitter and Instagram, except that he recently asked for donations for a homeless shelter in Russia.
5. Paris Hilton
In 2017, this famous TV star and wealthy heiress tweeted that she is launching her own digital currency named Lydian. The tweet, meanwhile, was deleted after reporters began snooping around LydianCoin and revealed that its CEO had pleaded guilty to domestic violence. A month and a half after that discovery, the US regulatory agency Securities and Exchange Commission issued a warning regarding public offerings of coins with the support of celebrities. Many believe that this warning was prompted by Hilton’s venture. She hasn’t advertised much about cryptocurrencies since, but her father Richard offered a $ 38 million villa for sale in 2018 and allowed an auction of bitcoins.
6. Imogen Heap
This famous musician publicly expressed interest in cryptocurrencies back in 2016. Of course, those that were supposed to be related to the music. She took a look at the blockchain project Mycelia, which is supposed to help musicians track the rights related to publishing, recording, and composing via the Creative Passport app. They are still developing technology to power the app, and she is promoting it in its performances, along with the app. However, she admitted on one occasion that blockchain is not the only solution for monitoring the state of copyright and that she uses it because there is a lot of talk about it.
There are other celebrities worth mentioning who have small stakes in cryptocurrencies, such as Gwyneth Paltrow, who were paid to promote cryptocurrencies, but nothing came of it. Others, like Elon Musk, have even managed to lose the digital keys to virtual wallets and no longer have access to funds. Still, he is considered to be a financial guru, followed and copied by millions of people who dream about becoming rich overnight.
Mike Tyson, Ashton Kutcher, and others also joined the bitcoin movement some years ago and focused on established currencies like ethereum.
Many financial experts have been warning people about the danger of making investments like in crypto, emphasizing that one should only make such a move if he or she is ready to suffer financial loss, given the volatility of these digital currencies. They also suggest not to go beyond what you can digest losing. Regardless of the warnings, these investments have done nothing but increase and grow, be it in currencies, or some other business related to crypto and blockchain. Since we’re talking about celebrities then one such investor simply has to be included in the text – Marc Cuban, the owner of Dallas Mavericks.
In one of the shows he was being interviewed he said how 80% of all his investments are not related to any traditional business, but with crypto. His most interest is caught by smart contracts.
Of course, he was also aware of the risks of his investments and compared the beginning of these currencies to the early days of the Internet. Numerous problems, of course, exist, but in ten years some cryptocurrencies and companies that invest in crypto will succeed and create their own economy.
