As an analyst with a background in the cryptocurrency industry, I’ve seen my fair share of celebrity involvement in the space over the past few years. In 2021, it was all about non-fungible tokens (NFTs) and big names like Eminem and Justin Bieber hopping on the trend. Now, three years later, it seems that celebrities are once again dipping their toes into crypto – this time with meme coins.
In the year 2021, it appeared that many celebrities joined the cryptocurrency world by engaging with non-fungible tokens.
In recent times, The Bored Ape Yacht Club (BAYC) and CryptoPunks have gained immense popularity, with notable figures such as Eminem and Justin Bieber, among others, adorning their Twitter profiles with these Non-Fungible Tokens (NFTs) as avatars.
As a researcher looking back over the past three years, it appears that an increasing number of celebrities have re-entered the world of cryptocurrencies, this time focusing on meme coins.
Iggy Azalea’s MOTHER Meme Coin
Late in May, the Australian model and rapper – Iggy Azalea – announced her very own cryptocurrency.
Mother’s token experienced a surge in value, peaking at roughly $0.27 – an all-time high – resulting in a near $300 million market capitalization. At present, its market capitalization hovers around $150 million as of trading.
The coin was mired in debate, piquing the interest of Ethereum‘s co-founder, Vitalik Buterin. Expressing his views on the issue and the larger craze surrounding meme coins endorsed by celebrities, he commented:
I’ve been rather displeased with the celebrity-driven trends of this year’s crypto space, known as the “celebrity experimentation” or “meme coin era.” In contrast, Ashton Kutcher and Mila Kunis’ Stoner Cats project stood out as a beacon of authenticity. At least with their endeavor, there was a tangible production – a show being funded – behind the hype.
As a mocking response to that statement, I, Azalea, playfully quipped, “Oh, really? You’re just ‘hungry’ again? Let me guess, there’s another hilarious meme for that, isn’t there?”
Andrew Tate’s Coin
Some time ago, Andrew Tate said:
I have no plans to create a cryptocurrency myself, but I enjoy engaging with the community on Twitter, which can be quite colorful and passionate about cryptocurrencies. However, some may view its members as unconventional or even unsavory characters.
Surprise ending: It turns out he did create his own cryptocurrency. Recently, RNT joined the bandwagon of trendy abbreviations with the nickname “Riding the Trend.” Launched just a few days ago, this new crypto has already gained traction and is currently valued at approximately $50 million in the market.
Besides RNT, multiple other cryptocurrencies were created, while Tate commented:
“I’ve caused quite a stir in the crypto markets lately as I attempted to bring down Solana. Today alone, there have been countless tweets about my actions and their consequences. I’ve created quite a mess, and I’m certain some individuals have made substantial profits from it.”
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2024-06-09 17:52