These Are The Celebs Promoting Crypto
Initial Coin Offering's (ICOs) are a revolutionary way of funding projects. It allows developers to presale their projects' tokens in exchange for other cryptocurrencies like bitcoin (BTC) and ether (ETH). These crowdfunds have gained the attention of celebs and regulators alike.
Despite the looming regulation from the Securities Exchange Commission (SEC) and recent ban of ICOs in China, the influx of star power around them has continued. The latest celeb to promote an ICO is actor, songwriter, and comedian, Jamie Foxx. The entertainer used twitter to post about a token sale for Cobinhood, a zero-fee digital currency exchange. That sale is currently underway, according to its website, collecting about 19,361 ETH (worth roughly $5.64 million at press time) to date.
Paris Hilton promoted the Lydian ICO on twitter claiming it was "#notanad." Lydian is developing, "Blockchain driven technologies to reduce ad fraud and to maximize the effectiveness of ad marketing expenditures."It has since been heavily scrutinized as the team behind Lydian has yet to be announced. Some will be suprised to know that Paris has been in the crypto-space for a year now. An Instagram post surfaced from a year ago features Hilton sitting next to former ethereum CCO Stephan Tual. In a caption, it states that Hilton is "about to venture into the new millennium of technology, community and social services in the most mind blowing way."
Other celebs such as Floyd "Crypto" Mayweather is on his 3rd ICO, the cryptocurrency debit card, Centra. He tweeted he was, "spending bitcoins ethereum and other types of cryptocurrencies in Beverly Hill." In the past months, the legendary boxer has endorsed the ICOs of the prediction market project Stox, and the media tech company Hubii Network. The two companies have yet to prove their worth in the market and it's hard to say if Centra will either. There are already many debit card applications on the market already. Mayweather was employed by a company called the Crypto Media Group, which has said it is targeting celebrities for promotional purposes.
Barcelona and Uruguayan striker Luis Suarez has shown his interest. He posted on Instagram about Stox, indicating that he would be predicting a Roger Federer crown for the US Open, while also urging others to sign up to Stox along with him. Ashton Kutcher is another actor that has shown his interest. Mark Cuban has various cryptocurrency investments, ranging from decentralized casinos to crypto-focused hedge funds.