As validating as it may be to hear of another celebrity staking their own money on the success of crypto, celebrity investments won't be enough on their own to drive widespread adoption of cryptocurrencies, since they still remain a relatively rare occurrence.
On April 17, tennis champion Serena Williams became the latest celebrity investor in crypto.
Arguably the most active celebrity investor in such companies is Ashton Kutcher, the actor and one-time Calvin Klein model who launched his own venture capital firm - A-Grade Investments - in 2010.
Kutcher may be the most committed and outspoken celebrity investor in cryptocurrencies and crypto-related businesses, but he isn't the only famous individual to be all-in when it comes to crypto.
"Investment from a celebrity like Serena Williams often generates press, which has value, but it's pretty ephemeral. There are some celebrity investors, like Ashton Kutcher, that really dig in, leverage their celebrity status to help the company, and add real value."
"Celebrity investments certainly bring hype and make the startup in question more appealing in the eyes of the general public and retail investors. If played right, celebrity involvement can be beneficial, but I believe it should be viewed on case-by-case basis and not taken out of context. For instance, in the case of Serena Williams we're not talking about her directly supporting blockchain or Coinbase."
In other words, the distinction between celebrity investments and celebrity endorsements provides a useful rule of thumb.
It's not surprising that celebrities have been drawn to crypto - and that crypto-related projects have been drawn to celebrities - because, not only are celebrities usually always open to earning a little extra money via endorsements, but many of them also like to maintain their "Fashionable" images and branding by associating themselves with the latest trends and innovations.
For one, it's clear that, in certain cases, the direct purchase of crypto and even the provision of venture capital by celebrities isn't as effective in enabling the industry to grow as the help provided by established investors and entrepreneurs.
"Being within the crypto and blockchain industry for long and driving it strongly forward, they bring much more value and trust to a project than just celebrities."
Celebrity Crypto-Investments: A Boost for the Industry, but Also a Distraction
Publicado en Apr 29, 2019
by Cointele | Publicado en Coinage
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