Celebrities are embracing NFTs in a big way
The next few years are likely to be very interesting, as the nonfungible token market opens digital collectibles for fans and investors. The nonfungible token (NFT) market is growing. According to a new report by analytics platform DappRadar, NFT trade volume soared past $10 billion during the third quarter of 2021, a sevenfold increase from the previous quarter’s figure. Although a significant slice of that action comes from runaway hits like NBA Top Shot, CryptoPunks and gaming platform Axie Infinity, NFT use cases are rapidly proliferating as creators recognize their potential.In the....
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Whether it be celebrities, big brands or corporations, more eyes will come to the NFT space, leading it to mass adoption. It is no secret that nonfungible tokens (NFTs) are still a niche subject. Despite their rapid surge in popularity during 2021, there is still a significant percentage of people who do not know what an NFT is. Reflecting on the graph below, it is evident that a lot of work needs to be done for NFTs to truly hit the mainstream.However, it is clear from recent months that there is potential for this to happen, and there have been many signs of awareness and adoption which....
More and more celebrities are joining in on buying and creating NFTs. But where can you actually buy a celebrity NFT? And what does it achieve? During your morning social media scroll, you may have noticed, among all the selfies and vacation photos, the messages from celebrities endorsing NFTs. NFTs are assets on the blockchain that are unique thanks to their identifying information recorded in smart contracts. Creators may tokenize anything from music and photographs to videos or illustrations using NFTs. Most of the discord surrounding NFTs goes down on Twitter since the platform....
It’s not like I didn’t get NFTs before. I just *really, really* get them now. On Friday of last week, I got a press release from Grace at a music and public relations firm called 23, and Grace wanted to know if I was interested in running a feature on a series of nonfungible tokens, or NFTs.I almost instinctively replied “I am not, as I am actually exhausted reading these pitches about the half-baked efforts of minor celebrities to get a fat payday thanks to rich cryptopreneurs with more Ether (ETH) than sense,” and then I’d usually rant, and rant, and move on. Except I’m not really that....
The presence of celebrities in bitcoin is no longer a novel or surprising concept. Over the past year, numerous celebrities have come out to express their support for bitcoin and the crypto market at large, with NFTs providing them one of the best avenues to exert full ownership over the art they create. Others have […]
Consumer watchdog group Truth in Advertising says celebrities promoting non-fungible tokens (NFTs) on their social media channels is an area "rife with deception." Consumer watchdog group Truth in Advertising (TINA.org) has called out 19 celebrities for allegedly promoting non-fungible tokens (NFTs) without disclosing their connection to the projects. The not-for-profit consumer advocacy organization said on their website they investigated "celebrities who promote non-fungible tokens (NFTs) on their social media channels", finding that "it is an area rife with deception."Among the....