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HomeNFTsMixed fortunes of celebrities who leapt on NFT craze

Mixed fortunes of celebrities who leapt on NFT craze

Paris

Sports, movie and music stars are all flocking to the NFT market to buy ape photos, support corporate partners and launch their own art collections.

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Celebrities continue to sign up for the so-called non-fungible token epidemic, even when the crypto sector is suffering from a plunge in sales and value and a surge in fraud.

Bored Ape Yacht Club is NFT’s “collection” ground zero.

It features cartoon images that have been duplicated thousands of times with variations generated by the algorithm.

Following the first collection of 10,000 computer-generated images, there are millions of fake with several other generations.

For fans, they are status symbols and the key to an exclusive club where ordinary people can mix with famous and wealthy people.

Brazilian soccer player Neymar and tennis legend Serena Williams tweeted an image of an ape on the same day in January.

Jimmy Fallon, the host of a talk show in the United States, and Paris Hilton, a notable socialite, showed off apes on television.

Madonna declared on Instagram in March that she had bought more than $ 500,000 apes and “entered the Metaverse.”

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She followed actors such as musicians Justin Bieber, Eminem, Snoop Dogg, basketball celebrities Shaquille O’Neal, Stephen Curry and Gwyneth Paltrow.

For NFT critics, these apes symbolize everything wrong in the crypto world-basically worthless, but selling huge amounts of money on hype-based valuations.

And finally, these celebrities don’t own pictures of apes in the traditional sense. Anyone can download and use the image.

They own basically a digital receipt linked to a photo.

But celebrity support is essential.

Apes, along with a collection of cartoons like CryptoPunks, seem to survive the crash better than the rest of the crypto sector.

Celebrity NFT enthusiasts are not only buying images of apes, they are also deeply involved in the industry. Many people have created their own NFT collections and the results are mixed.

US musician Grimes joined early and last year earned nearly $ 6 million for fantasy-inspired art.

However, many of these NFTs are currently of little value and are sold at a fraction of their original price at the time of sale.

Other collections couldn’t even get going. Wrestler John Cena has sold just a handful of NFTs from the collection he collected with WWE last year.

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He admitted that it was a “catastrophic failure.”

Skateboarder Tony Hawk was more successful in selling, but at the expense of the praise of some of his fans.

He announced on Twitter last year that he would sell a version of his famous trick as an NFT, prompting responses ranging from “Stop this Tony” to “Tony, no, not you.”

Hawk hasn’t mentioned this project on Twitter since then, but he continues to trade NFTs.

One of the heart of the celebrity-NFT relationship is the support of old-fashioned brands.

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This week, French megastar soccer player Kylian Mbappe has signed on as an “ambassador” and has become the latest star to invest in the French startup Solare.

The company runs a fantasy football game where players can buy sports card style NFTs.

Serena Williams has already invested in the game, along with soccer players Gerard Piqué and Rio Ferdinand.

And last week, the world’s most famous soccer player, Cristiano Ronaldo, announced a partnership with Binance, the world’s largest cryptocurrency company.

The offering seems to include a design created in collaboration with Ronaldo. Ronaldo looks forward to “bringing unprecedented experience and access through this NFT platform” in his statement.

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