Celebrities who embrace encryption in 2021

Although during the ICO boom in 2018, the crypto space seems to have surpassed the recognition of token projects by many celebrities, its growing popularity and acceptance has now been supported by professional sports athletes, Hollywood elites, and politicians. Support major companies that handle digital assets.

In June 2021, Kim Kardashian promoted EthereumMax (EMAX) through an Instagram story shared with him She has more than 200 million fansThe token, which is used to pay for online ticket purchases for certain pay-per-view events, rose by 116,000% in just one week after the celebrity event, and then fell by more than 99%, leaving many investors at a loss.

Kim Kardashian promotes EthereumMax on Instagram Stories, June 2021. Source: Instagram

Although EthereumMax is a cautionary tale for crypto novices who want to get involved in this field, it also represents one of the specific eras where major international figures outside of finance and politics not only talk about digital assets but also actively promote specific projects. Mark as an ad. Kardashian is considered by many to be a first-line celebrity, and her fame is mainly outside the Hollywood circle, so her seemingly recognized mark of a symbolic project surprised many people.

In the worst wave of the COVID-19 pandemic, after spending most of the time indoors, the rest of the film and television world entered the cryptocurrency space for the first time in 2021. Mila Kunis (Mila Kunis) is an actress who is well-known for starring in movies. The 70s show and otaku, Launched the Animation Non-Fungible Token (NFT) project Cats based on drinking and smoking marijuana.However, the biggest recognition of crypto companies last year was arguably from the movie star Matt Damon, who Appeared in global advertising spots For Crypto.com.

Sports franchises are also involved in the cryptocurrency field through official partnerships with exchanges or with individual players who promote certain events or companies. Tom Brady, quarterback and seven-time Super Bowl champion for the Tampa Bay Buccaneers, Holds equity in the cryptocurrency exchange FTX After reaching an endorsement agreement in June, he currently serves as the company’s ambassador. His wife, Brazilian supermodel Gisele Bündchen, serves as the exchange’s environmental and social advocacy consultant.

“This special opportunity shows us the importance of educating people about the power of cryptocurrency, while giving back to our community and the planet,” Brady said at the time.

The Cash App, a digital payment application developed by Block (officially called Square), has also established partnerships with NFL players, allowing them to use Bitcoin (Bitcoin), worth millions of dollars.Odell Beckham Jr., the wide receiver for the Los Angeles Rams, announced in November that he would become Get a salary of $4.25 million in cryptocurrency. The professional athlete currently has a CryptoPunk style picture as his Twitter profile picture.Cash application Offers similar transactions To Green Bay Packers quarterback Aaron Rogers, who later found a place in the national spotlight after deceiving the public about his COVID-19 vaccination status.

In addition to Kardashian, celebrities who entered this field in 2021, compared with those who followed the 2017 bull market, seem to be cooperating with more mature companies and projects, and have enough exposure to get rid of any potential “scam” labels . It is not clear whether this can be attributed to the fact that the space seems to have gained more recognition worldwide, or that the company has grown to have the financial means and influence to hire more well-known public figures.

NFT also saw the share of celebrities last year. In March, Canadian musician Grimes-sometimes associated with Tesla CEO and Dogecoin (dog) Supporter Elon Musk—— Sold NFT worth approximately USD 6 million Including works of art and audiovisual animation.In December last year, NBA star Kevin Durant and sports manager Rich Kleiman announced that their venture capital firm 35 Venture Capital will Cooperation with cryptocurrency exchange Coinbase Create NFT drops. Music artists such as Katy Perry, Kings of Leon, Snoop Dogg, Eminem, Jay-Z, Shakira also launched similar initiatives in the NFT field last year.

However, the trend of celebrities to support encryption is not without critics.Ben McKenzie is known for his roles in TV shows, such as Gotham and The oc, Collaboration with New Republic writer Jacob Silverman Calling on actors and influencers to promote the “illusory” rewards of cryptocurrency. The two criticized Kardashian and others for seeming to label crypto projects as “the path to sustainable wealth” without informing fans of the potential risks.

“Whether it’s Lindsay Lohan selling 5-digit NFTs, sharp-eyed Tom Brady supporting exchange FTX, or Akon’s commitment to build a $6 billion crypto-inspired city in Senegal, there is a lot of capital surrounding this industry, and for many reasons. Because of worry,” Say Mackenzie and Silverman in November. “Celebrities encourage their fans to gamble on unproven speculative investments, which may soon be severely cracked down by regulators, if it were not for the complete collapse of the market.”

Will the attention of celebrities Help on the road to mass adoption to be observed. Currently, the association between respected public figures and established cryptocurrency companies shows many promising signs, ranging from increasingly active social media chatter to some correlation with price movements, which are usually signs of large-scale buying and selling. .