This week has, unintentionally, focused on celebrities and NFTs. First, Kim and Kylie hating on Insta, then the lawsuit against Kim and dozens of other celebs for shilling EMAX. Today (because clearly I’m a trendsetter), Bloomberg has a story about The Disastrous Record of Celebrity Crypto Endorsements: Matt Damon -60%, Mike Tyson -95%, Reese Witherspoon -75%, Nick Carter -99%, etc.
The crypto market is considerably off its highs, so some of this is just the market. However, most of it is celebs jumping on the snake oil bandwagon. Now, as then, it’s important to understand the tokenomics of any investment in digital assets you are considering. (This is not financial advice, just common sense.)
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