Since cryptocurrencies started to go mainstream, a string of celebrities and companies have come out with their endorsement of various tokens. With these endorsements, numerous ICOs have gained a much-needed momentum. But where are the tokens today? Did they succeed in getting their respective projects off the ground? Let us take a look at some of the most well-known endorsements.
One of the first and most well-known celebrity endorsements what that of Paris Hilton and a token called LydianCoin. Paris Hilton tweeted about the company behind the cryptocurrency, and many of her fans bought into it. However, the plans were halted as the CEO of LydianCoin was found guilty of domestic abuse, which gave the company a bad name. A statement was shortly afterward issued by the SEC, who urged people to be careful with cryptocurrencies. It was not over for the Hiltons and cryptocurrency, however. Paris Hilton’s father auctioned off a house worth $38 million to buyers who paid him in cryptocurrency.
Last year, there was a cryptocurrency token that sounded vaguely familiar. It went by the name of Bitcoiin. For people familiar with the cryptocurrency space, it seemed a bit odd that an ICO would copy the famous Bitcoin by adding an extra ‘i’ to the name. Steven Seagal, however, was not deterred and became a brand ambassador for the cryptocurrency project. The Bitcoiin project was found to fraudulent, however, and Seagal soon stopped his partnership with the ICO. It would seem that Steven Seagal has since gone very quiet on social media — perhaps he was not too proud of being conned.
The singer and musician Imogen Heap was a bit ahead of her peers in the entertainment industry when it came to blockchain technology. She already showed an interest in cryptocurrency back in 2016 and spent some time researching the space before investing or backing anything. She also picked an ICO which was relevant to her industry. Mycelia was an ICO that promised to help musicians with tracking their rights online. The ICO developed an app named the Creative Passport, which would use the blockchain to store all the data pertaining to an artist’s music. As opposed to Paris Hilton and Steven Seagal, Imogen Heap has not been conned. The project she has endorsed is still in development, and many other similar projects have sprung up in the meantime.
The famous boxer has been so involved in cryptocurrency that he has renamed himself Floyd ‘Crypto’ Mayweather. Unfortunately for him, one of the cryptocurrencies he backed has now been charged with fraud. Centra, the name of the ICO, had as an aim to integrate Visa and Mastercard but turned out not to have a deal with either. Mayweather has not gone quiet, however. You can still catch him on Instagram next to piles of cash.
Perhaps one of the most ambitious one on this list is Akon, who has plans to launch his own cryptocurrency called Akoin. Not only that, he also plans on building an entire town in Senegal, in which the token will be used as the local currency. He hopes to create a real-life Wakanda.