Can we be seeing the future BTC in this celebrity token?

[Bigshark77]

Before it was TRUMP coin, followed by Melania coin, and others followed suit - celebrities from entertainment and many more. But the real question is, are they helping people to make money indirectly or are they just collecting money from them, because I believe they have enough already?
This discussion came into light because of the recent coin that is going viral, created by the popular American rapper and entrepreneur, Kanye West, called $YZY. I thought it was a joke until I went to research it and saw that it was designed to serve as the official currency for the Yeezy brand, primarily for payments on the Yeezy website.
Since it was listed on tier-1 exchanges like Bitget, appeared on Binance website news as a potential, and  Krakent rumors. Do you think because of the purpose of creating the coin, it can become something big in the nearest future?

[bettercrypto]

My answer is no. I've seen many tokens/coins before that used a celebrity's name, but they didn't take off because they weren't truly embraced by the crypto community.
It might create a buzz initially because many people will just jump on the hype and trend, but in the long run, they will give up on the coin little by little.

It's no different from other coins that were popular before but are no longer paid attention to by the crypto community. It all depends on the coin's development,
as well as supply and demand.

[coin-investor]

Do you think because of the purpose of creating the coin, it can become something big in the nearest future?

I don’t think so. The famous rapper Akon created his coin, Akoin, to be used in his project, the Akon City project, but it was eventually abandoned because of funding issues and poor management. Many celebrities have done this, even sports legend Manny Pacquiao has his own coin, Pac Token.
Boxing champ Pacquiao launches his own crypto tokens
After 6 years, it’s nowhere to be found in the market. Celebrity-based coins will all end up like this. The community is seeking practical applications and benefits.

[ultrloa]

Before it was TRUMP coin, followed by Melania coin, and others followed suit - celebrities from entertainment and many more. But the real question is, are they helping people to make money indirectly or are they just collecting money from them, because I believe they have enough already?
This discussion came into light because of the recent coin that is going viral, created by the popular American rapper and entrepreneur, Kanye West, called $YZY. I thought it was a joke until I went to research it and saw that it was designed to serve as the official currency for the Yeezy brand, primarily for payments on the Yeezy website.
Since it was listed on tier-1 exchanges like Bitget, appeared on Binance website news as a potential, and  Krakent rumors. Do you think because of the purpose of creating the coin, it can become something big in the nearest future?

Not that Trump and Melania then now with the current existence of Yeezy token of Kanye West all of it just part of shit show on the market.

They are just fooling people around and their main intention is to gain lots of money for those people buy their shit tokens. Its better for people to stop riding with the hype or shitcoins created by celebrities.

Hopefully we won see another like Hawk tuah token scams nowadays and people became more smarter to choose the best coin and avoid those shit tokens made by some famous people in the world.

[Felicity_Tide]

Before it was TRUMP coin, followed by Melania coin, and others followed suit - celebrities from entertainment and many more. But the real question is, are they helping people to make money indirectly or are they just collecting money from them, because I believe they have enough already?

I don't think their intent has always been to help people. Let just look at it from a rug pull point of view, but they don't exit the market completely, though a lot of investors suffered losses. Memecoin projects, especially those that comes from celebrities or influential people are not meant to enrich their followers, but they are meant for those who introduces them.

Do you think because of the purpose of creating the coin, it can become something big in the nearest future?

If the actual purpose for its creation was to use it for payment on their website, then I don't think it is going to be a big thing that memecoin chasers would want to chase after. How many people from the world population buys Kanye west brands?. But just so you know, memecoins don't hold a promising future.

[betswift]

Even if it would go up and rise in price - don't go into it, it will be rugged eventually by every party imaginable.

[Despairo]

Those celebrities tokens are just like you're using their products, are you kind of fan who will copy what your idol use/wear/doing? I'm not, for me it's really cringe. This Kanye West's token, I wonder why people didn't cancel Kanye West, look how he force Bianca to wear inappropriate dress in public.

What next? I think P Diddy's token? this guy was popular, probably many stupid fans also want to be a part in this circus.

[$crypto$]

They are just fooling people around and their main intention is to gain lots of money for those people buy their shit tokens. Its better for people to stop riding with the hype or shitcoins created by celebrities.

Celebrity shitcoins — initially pumped up and then dumped — have been quite common, especially artist tokens or official tokens such as $TRUMP, which were initially pumped up hard and then dumped after the hype died down.

Are there many victims? Of course, those who FOMOed in order to make a profit but ended up suffering losses.
I won't buy shitcoins even if they are world-famous celebrities.

[Akbarkoe]

They are just fooling people around and their main intention is to gain lots of money for those people buy their shit tokens. Its better for people to stop riding with the hype or shitcoins created by celebrities.

Celebrity shitcoins — initially pumped up and then dumped — have been quite common, especially artist tokens or official tokens such as $TRUMP, which were initially pumped up hard and then dumped after the hype died down.

Are there many victims? Of course, those who FOMOed in order to make a profit but ended up suffering losses.
I won't buy shitcoins even if they are world-famous celebrities.

I would definitely buy, like what happened with the $TRUMP coin, which saw a dramatic price increase in a matter of days. Such things are very rare in the crypto space, and in fact, for me, it's the best way to multiply money quickly.

However, if the celebrity coin is better, unless it has enormous influence and a very wide following, I would consider it. We have $TRUMP and Elon Musk, who have quite frightening popularity across many industries, and we know for sure 90% of people know them because of their influence and achievements. But remember, don't hold onto it for too long, because it will end up the same, and it won't even compare to BTC.
Meanwhile, celebrity coins will just become trash.
I'm pretty sure Ronaldo will do the same thing someday, perhaps after retirement.

[Merit.s]

Creating a coin isn't the problem but to improve the project. One thing that you should know that demand is what will determine the growth of the coin. Like you said, the coin is going to be used on jeezy which means only people that are interested to shop in yeezy website that might have the interest to buy the coin when needed.

I don’t see any difference in this coin and the rest shitcoins out there which will later dump in price. Project owners do create new token majorly for rug pull because they hold almost 90% of the token.

[o48o]

Before it was TRUMP coin, followed by Melania coin, and others followed suit - celebrities from entertainment and many more. But the real question is, are they helping people to make money indirectly or are they just collecting money from them, because I believe they have enough already?
-cut-

Hahaha  . Do you now? Why do you think the whole brand exist and keeps selling stuff if they have enough money already?

This might seem harsh, but imho if you are willing to buy a token that from craziest famous people gave permission to use their name, then money people lose is on purely on them. Saddest thing is that some of them will lose money that was meant for their kids as well.

I wouldn't even blame the people who issued the token, because target group is just lowest hanging gullible fruits that are beyond help.

[hyudien]

Stop talking nonsense about these damn tokens, they hold 70% of the total supply and are ready to sell at any time. Do you think this can be compared to Bitcoin? Comeon, from any perspective the $YZY is just hype that lasted about 20 minutes after listing. I know they offer some kind of payment method, when a shitcoin is just hype, you have to get out faster before the price crashes.

[Bigshark77]

They are just fooling people around and their main intention is to gain lots of money for those people buy their shit tokens. Its better for people to stop riding with the hype or shitcoins created by celebrities.

Celebrity shitcoins — initially pumped up and then dumped — have been quite common, especially artist tokens or official tokens such as $TRUMP, which were initially pumped up hard and then dumped after the hype died down.

Are there many victims? Of course, those who FOMOed in order to make a profit but ended up suffering losses.
I won't buy shitcoins even if they are world-famous celebrities.

I would definitely buy, like what happened with the $TRUMP coin, which saw a dramatic price increase in a matter of days. Such things are very rare in the crypto space, and in fact, for me, it's the best way to multiply money quickly.

However, if the celebrity coin is better, unless it has enormous influence and a very wide following, I would consider it. We have $TRUMP and Elon Musk, who have quite frightening popularity across many industries, and we know for sure 90% of people know them because of their influence and achievements. But remember, don't hold onto it for too long, because it will end up the same, and it won't even compare to BTC.
Meanwhile, celebrity coins will just become trash.
I'm pretty sure Ronaldo will do the same thing someday, perhaps after retirement.

I had bad mindset concerning buying some of these coins then and when the TRUMP coin came into live i saw it immediately then but decided not to buy around $5 imagine i woke up to see it $20 on cexs including bitget, binance, okx, bybit and many more have listed it that morning still didn't buy at all till it reached $60 or more, and some of my guys made crazy money from there, so in short what am trying to say is, no one knows the real coin that could made him good money, just DYOR and know the risk you are taking.

[Diamondarikpi]

Hmm! Things are happening in this space but we don't seem to carefully observe. The YZY token was just another scheme for all care cos how can majority of the tokens be held by just a very few & look at how they dumped the market. We should bee very careful to DYOR before investing in any token in my humble opinion although I got lucky this time around on YZY selling earlier on Bitget before the dump.

[Josefjix]

This discussion came into light because of the recent coin that is going viral, created by the popular American rapper and entrepreneur, Kanye West, called $YZY. I thought it was a joke until I went to research it and saw that it was designed to serve as the official currency for the Yeezy brand, primarily for payments on the Yeezy website.
Since it was listed on tier-1 exchanges like Bitget, appeared on Binance website news as a potential, and  Krakent rumors. Do you think because of the purpose of creating the coin, it can become something big in the nearest future?

How big is Yeezy brand, asking because that is where the use case started from not centralised exchange. Cex are usually a market for trading but the actual source of pump is the brand, company that owns the crypto, how strong is the demand in that industry?

TRUMP token did a massive hype and confuse the masses thereafter, no use cases, no medium for demand, just some shit of meme coin for pump and dump, $YZY will end up the same way other celeb token did, nothing special.

[passwordnow]

But the real question is, are they helping people to make money indirectly or are they just collecting money from them

It's the latter and the ones that are only making money on them are the developers themselves. And Trump even don't realize how much he's earned in the past 24 hours after that token of his was launched. He has no idea of what's happening when one of his staff told him or if that was a journalist told him that he's got a lot of money earned in the last 24 hours. That's why I am no longer going into these celebrity tokens because they're terrible and not going to make us some money but if you like to support them and treat it as a donation, you're free to do.

[shinratensei_]

It will never be the future of BTC, most meme just gonna get hyped the first week then dust settled, price coming back down again, same thing with other.
Doesn't matter if this coin coming from famous rapper, frankly there are countless of celebrity coin already in the market and for long term most of them lose 90% of their value.

I'm expecting the same for this yet another meme coin. It's just the same cycle being played over and over again at this point that we're getting used to it.

[pooya87]

But the real question is, are they helping people to make money indirectly or are they just collecting money from them, because I believe they have enough already?

The creators of these shittokens are basically milking people out of their money to fill their own pockets. The thing about the ultra rich is that they never feel like they've had enough. It is like a sickness where they always want MORE.

Do you think because of the purpose of creating the coin, it can become something big in the nearest future?

Obviously not. It is a useless shittoken and nothing more. The best analogy that I have always used for shitcoins is the physical tokens you would have bought in an arcade (the Arcade Tokens). They have no real value and they have no utility outside the tiny arcade building! But you have to buy them to be able to use their services. Services that could have worked directly with fiat already.

In a way things are the same with all these useless coins and tokens they keep creating. They could easily use bitcoin or even fiat for that matter but they create something new that has no real utility but it helps the creators make money.
Just like arcades, they die eventually...

[X-ray]

It's just another shitcoin when there are millions of shitcoin out there in the wild and thousands of it being deployed everyday.

I still remember people that are calling $trump meme coin to be the future of BTC, even replace it so to speak and now it's just another meme.

Don't be too overhyped and stay within rationality. Ride the hype while it lasts because I'm sure eventually people gonna cash out of these memes.

Just know the risk it entails.

[Iamcrypticguy]

Before it was TRUMP coin, followed by Melania coin, and others followed suit - celebrities from entertainment and many more. But the real question is, are they helping people to make money indirectly or are they just collecting money from them, because I believe they have enough already?
This discussion came into light because of the recent coin that is going viral, created by the popular American rapper and entrepreneur, Kanye West, called $YZY. I thought it was a joke until I went to research it and saw that it was designed to serve as the official currency for the Yeezy brand, primarily for payments on the Yeezy website.
Since it was listed on tier-1 exchanges like Bitget, appeared on Binance website news as a potential, and  Krakent rumors. Do you think because of the purpose of creating the coin, it can become something big in the nearest future?

After watching it go from 3b ath to less than 1b I'm having a change of opinion about it.. though I managed to catch it and it did 3x thanks to Bitget swift listing though.

It's a volatile coin and we need to be mindful of memecoins with hype like this.. catch them early, watch the trend and be brutal with your assessment.. nfa