Bitcoin Forum

Throughout last year we saw the cryptocurrency world reach soaring new heights and among the main drivers for that massive surge were the Initial Coin Offerings that were running rampant throughout the cryptocurrency community. Since there was such a saturation of Initial Coin Offerings throughout the cryptoverse, some of them took steps to stand out from the rest.
That is how the celebrity endorsed ICO projects came into being. The help of celebrities managed to give an added sense of credibility to many of the cryptocurrency ICO projects that took place throughout the year. Here is a look at some of the most prominent celebrity endorsed ICO projects and where they are right now.
The First Celebrity Endorsed ICO
The first Initial Coin Offering project which was endorsed by a celebrity and the first celebrity to get in on the cryptocurrency world was the Stox.com ICO project endorsed by Floyd Mayweather. The Stox.com ICO really took off when they managed to get Mayweather on board with his endorsement and the prediction market platform managed to raise $30 million US dollars in the ICO.
For all intents and purposes, the Stox.com ICO has become the only successful celebrity endorsed ICO project to date. Mayweather started calling himself Floyd “Crypto” Mayweather after his first investment took off. After that he invested in Hubii and Centra, two ICO projects that went belly up. Centra was charged with fraud by the SEC and Hubii didn’t even manage to raise the necessary funding it needed.
From That Point Onwards
Another one of the celebrity endorsed ICO projects was the LydianCoin. This was backed by the great granddaughter of the Hilton Hotels owner, Paris Hilton, who promoted the coin through her tweets, which have since been deleted.
It was only a couple of months after the ICO was announced that people found out that the CEO of the ICO project had been found guilty of committing domestic abuse. The SEC, at this point, also began to warn the would-be investors in the Initial Coin Offerings that there are significant risks involved with investing in ICOs. The fact that well known celebrities are endorsing them should not be considered as adding more credibility to the ICO project.
Lastly, there was another cryptocurrency ICO project which was a blatant rip off of Bitcoin known as “Bitcoiin” with two I’s. The actor Steven Seagal endorsed this project until the time came that he was given a cease and desist order from the court. That’s when he parted ways with the ICO project which was never really going to take off anyway.
There was also John McAfee who was charging $100k for every tweet he would post about the cryptocurrency world, that was until regulatory bodies warned him and urged him to discontinue.
Other than the Stox.com ICO project, none of the celebrity endorsed ICO projects have ever actually gone on to become successful. Most of them have been questionable projects and people have now been sufficiently warned about staying away from the questionable ICO projects.

We provide the latest and most interesting news concerning everything Blockchain. Keep updated with our daily Podcast, Alexa Briefings of the days events, Crypto project ama´s, technical analysis and much much more.
Subscribe to our newsletter and receive regular updates in the blockchain world.

URL: https://blockverge.com/
iTunes: https://itunes.apple.com/gb/podcast/blockverge/id1412402400
RSS Feed: http://feeds.feedburner.com/Blockverge

First of all, ICOs are now getting popularity based on the cause they are working for. SET is looking to change the environment and that has made them a major competitor among other ICOs. In my opinion, celebrity endorsements would be an overkill in case of ICOs and most of the celebrities would be skeptic before endorsing because of previous fraudulent cases.

I would be careful with the celebrity endorsed coins.  Each one I have been part of turned out to be a scam or collapsed a few months in.  It's just celebrities pretending to like a coin so they get paid.  Nothing more, nothing less.

I wonder when are they going to receive letter from authorities to answer a few questions about scams they promoted publicly. It is interesting time to watch things unfold, as this has never been seen before

Every single one of those I was part of turned out to be a fraud or collapsed for a few months. It's just celebrities pretending to look like a coin so they get paid.

In the initial stage of coin offerings, celebrity endorsement was a great way for the platform to add credibility, but now upgrading from the alpha phase to a much advanced stage, the platform itself has provided so much to users and investors that it no more requires the celebrity to come to limelight, and is naturally trusted with its core structure of transparency and security. Moreover, a lot of countries have not legalized the crypto platform in their country, which is why a lot of the celebs cannot participate. Looking at the positivity of the platform itself as of yet, rest should be kept behind.

Yes, back in 2017, several ICO projects coming to the market which were endorsed with various celebrities.  But somehow which time the lost the track and now do not even exist in the market. Through Blockverge, we can get all the information regarding the cryptocurrency market before we come to even know of it.

The only way to survive in crypto world is using own brain and strategies. It is not a wise decision to follow what celebrities think about certain ICOs.

I think celebrities are only involve with Cryptocurrencies and ICOs that will pay them. They don't really care on the impact those sponsored posts affect their fans, They just prefer to get paid. While they're at it, They mislead their unsuspecting fans into investing into such. A few celebrity endorsed ICOs I still remember are Stox (which was shilled by luiz Suarez), Sirin labs by Messi and then Mayweather shilled Centra. Today, the coins have been among the worst performers.

I was looking for a good stuff regarding this and then I got this. I find the endorsement done by celebrities a bit unlawful as they did not disclose the source and amount of compensation paid directly or indirectly, by the company in exchange for it.

One of the most popular one would be Ronaldinho himself launching a cryptocurrency by the name RSC coin which would be launched in NEO platform.
Another in my list of attention is Akoin by Akon. Both of the currency are though more of charity than an investment opportunity.

If celebrity endorse project ICO projects that’s will be interesting for newbie. And it will help to grow interest for other investors. And  I hope these kind of news will help the newbie  in crypto world.

We both know such never end well especially in this market, celebrities only attach names to the ICOs fooling everyone. Of their possible quality, but in the real sense, the. Celebs might be getting paid to be used by the ICOs, never believe in such ICOs unless they have real quality to them

Celebrity only serve to create hype for a project,not necessarily legitimacy or usefulness. Eventually the community sees the project for what it really is and price it accordingly

Well, they say it's all just money, they advertised this or that project and received some profit from it, after that they are not interested in what will happen to this project and therefore they can not complain anyway.

Yes, there is always the temptation that we get suck into other peoples ideas and never really do our own due diligence. While it may be good for marketing, we really need to judge projects based on merits

When ICOs started to bloom, celebrity endorsement was a way for them to gain trust of the investors, however, after Floyd Mayweather's endorsement of Stox all the ICOs with celebrity endorsement were either filed with cases of fraud or just failed in the market. That is a major reason behind celebrities to keep distance from endorsing ICO projects. As a result, recent ICOs have focused on gaining popularity through the size of their community,  ???  idea and developer team.

The Idol Network is not necessarily an ICO project that is endorsed by Celebrities. It is more of a project designed to improve the connection between Fans and Stars.
Idol is a project that aims to revolutionize the way people create and consume entertainment. We are building a platform that provides innovative solutions to allow empowering engagement and seamless interaction between the entertainment industry’s key players: Fans, Stars, and Entertainment Companies.
Idol utilizes the properties of blockchain technology and the flexibility of smart contracts to create an inclusive network and ecosystem that enables high-level resolution to many of the industry's prevailing issues.
For more info please check out our website at https://www.idol.network/

There are severals project use a different approach. instead celebrity endorsing the Crypto project, celebrity themselves become the utility of the crypto.
 One of them is GCOX. more info on www.gcox.com. every celeb that sign in to the platform will have their own token. aside from trading their token or use the token to purchase certain service or product. The token itself also serve as a parameters of their popularity.

 i heard there's a new ICO name by gcox acm coin which base on celebrity ，any comment and suggerstion for this ?Is it a hype or its truely something great is coming soon from this project?

I really do not trust any celebrity endorsed coins as the use of celebrities is just a way for them to get  alot of people to trust the project and invest in it. Fact is that all of the coins that are coming out now are scams so celebrity or not, you are not going to make any money and will just lose your money if you are not smart about how you invest your money.

That kind of ICO are already dead. ICO that promoted by celebrity is not safe to invest. They must be pay the celebrity, and need big cost to do that.
I prefer to contributing in a normal ICO without endorsed by the celebrity.
Always do your own research before investing, not relying on other's opinion only. Because opinions can be bought.