What Celebrities Are In Crypto?
How Celebrity Promotions for Cryptocurrency only Proves the Blockchain is Taking Over
2022 is proving to be a pivotal moment in blockchain history. The latest so-called crash in the crypto markets has happened. Now, traditional economists and investors have begun questioning the validity of cryptocurrency as an emerging technology and form of exchange. With that said, despite the market downturn that has shaken confidence in some investors, veteran blockchain enthusiasts have been through this situation before.
This series of events has reflected a similar situation than we saw happen in 2017. Back then, Bitcoin reached its original peak just under $20,000. Only this time, there is a lot more attention being paid to crypto. From investors to celebrities, the spotlight on crypto is now brighter than ever.
Plenty of skepticism surrounded the initial crash of cryptocurrency years ago. Since then, it has become widely adopted – especially in popular culture. Even as people fret about their investments for 2022, one thing has become apparent: cryptocurrency is not going away.
Big Name Promotions Skyrocket for Crypto
Looking for one big sign that the blockchain is gaining prominence in the tech industry? Just take a look at the media exposure that crypto has gained over the last few years.
In 2017, the crypto industry was valued at $17.7 billion. Amazingly, by 2020 that number had grown to $1 trillion. This increase in value is largely due to the rise in celebrity involvement and awareness of cryptocurrency.
Some of the most well-known celebrities that have voiced their opinion or investment in cryptocurrency are:
Began investing in 2016 and created an NFT that sold in March 2020 for charity. Surprising no one, in April 2021 she launched another NFT project, with one NFT reportedly selling for over $1 million.
In the midst of going for another championship, Steph Curry has announced a partnership with Bitcoin Exchange FTX. In exchange, Curry will receive an equity share.
The celebrity DJ has been heavily pumping up crypto and web3 projects, believing it represents the future of the music industry. He launched a0k1verse which he claims will help bridge the gap between the meta verse and the real world.
These are only a few of the celebrities that have made headlines for their involvement in cryptocurrency, but they are not the only ones. A simple Google search of “celebrity cryptocurrency” will reveal dozens of articles and celebrity names associated with the blockchain.
Snoop Dogg’s Crypto Empire
Snoop Dogg has always been an early adopter, from social media to the cannibus industry. Hilariously, Snoop used the alias Cozomo de’ Medici to quietly acquire an NFT collection worth over $17 million. Snoop has also announced plans to turn his newly acquired label Death Row Records into an “NFT Label”.
Ever a marketer, Snoop has since partnered with a metaverse company to launch his very own “Snoopverse”. Following these successes, Snoop released his latest album in the form of 10,000 NFT on the Gala Music platform, netting $44 million in revenue.
It’s not only the celebrity name drops that are important, but also what they are saying about cryptocurrency. For example, when Floyd Mayweather promoted the ICO of Centra Tech, he called it “an all in one app that allows you to store, spend, and exchange your crypto assets.” Specifically, this sort of celebrity endorsement helps to legitimize cryptocurrency and the blockchain as a whole. It also brings the exposure needed for non-blockchain users and investors to better understand how the cryptocurrency market functions.
These quotes also bring more awareness to blockchain as an emerging technology to the public. More importantly, it also helps to normalize DeFi’s integration with traditional finance and investment options.
Lastly, when someone as influential as Floyd Mayweather talks about investing in something, people are going to take notice. The same can be said for all of the other celebrities on this list.
Some people might write off celebrity involvement in cryptocurrency as a fad. But, the truth is that it’s only helping to legitimize the blockchain and bring more awareness to the public. In a world where crypto is becoming more and more mainstream, celebrity involvement is only going to help it grow. And, while the exposure is needed for more investment, it will also lead to continued innovation and application for the modern world.
How has celebrity involvement in cryptocurrency helped to legitimize the blockchain?
- First, celebrity endorsements help to increase public awareness about what crypto is and how it works.
- Second, the celebrity name drops also help to legitimize cryptocurrency and the blockchain technology as a whole.
- Finally, in a world where crypto is becoming more and more mainstream, celebrity involvement is only helping it grow.
The Elon Musk Effect
One of the biggest celebrity endorsements by cryptocurrency is from billionaire tech giant Elon Musk, CEO of Tesla and SpaceX.
While he hasn’t been as vocal about his support for cryptocurrency in recent months, there’s no denying the impact that he has had on the industry.
In early February, Tesla announced that it had purchased $1.5 billion worth of bitcoin. Consequently, the price of bitcoin went soaring. Additionally, this endorsement helped legitimize cryptocurrency as a whole.
Specifically, the fact that such a well-known and respected figure like Elon Musk was willing to put his money into bitcoin helped to increase public confidence in the digital currency.
Elon Musk’s endorsement of cryptocurrency also had the effect of increasing public awareness about the blockchain. When people see someone as influential as Musk talking about bitcoin, they are going to take notice and want to learn more about it.
The celebrity involvement in cryptocurrency is only going to continue to grow in the coming years. And, as the industry becomes more legitimized, we will likely see even more celebrities getting involved, therefore increasing public awareness and confidence.
Tech Giants Adopt Crypto
Celebrities themselves are not the only ones who are promoting cryptocurrency as a usable form of exchange. Tech giants have begun utilizing cryptocurrency’s potential by creating their own blockchain-based platforms and applications.
For example, Facebook has created its own cryptocurrency called Libra. While the project has faced some challenges, it is still one of the most talked about crypto projects in the world.
Similarly, Google is now allowing users to buy and sell bitcoin through its Google Pay app. This is a big step for the mainstream adoption of cryptocurrency as it shows that even the biggest tech companies are starting to take notice of the potential of the blockchain.
Apple, Inc. has also been exploring the blockchain with its own team of developers. While the company has not yet released any products or services, it is clear that they are taking the technology seriously.
The involvement of these tech giants helps to legitimize cryptocurrency and blockchain technology as a whole. When such big names are willing to invest in the space, it shows that there is real potential for the technology to be used on a mainstream level.
This celebrity and tech giant adoption of cryptocurrency is only helping to increase public awareness and confidence in the blockchain. As more and more high-profile figures get involved, we can expect even more growth for the industry.