Influential celebrities who joined the crypto club in the past year

by · September 18, 2022

The inclusive crypto ecosystem has become home to a number of A-list celebrities over the years – primarily fueled by the 2021 NFT (Nonfungible Tokens) hype. Despite the prolonged bear market and a clear decline in cryptocurrency prices, celebrities continue to pouring in support for the crypto market.

Over the past year, celebrities have begun to explore sub-ecosystems beyond NFTs, seeking to diversify their presence across trading, gaming and other investment avenues. In that light, here’s a look at some of the most influential celebrities to enter crypto over the past year and how well prepared they are for the next bull run.

Connor McGregor partners with Tiger.Trade

UFC superstar Connor McGregor, one of the highest paid athletes, recently partnered with Tiger.Trade, a crypto trading app. Part of the deal involves McGregor participating in an internal game that users can play to win exclusive prizes.

Before signing on as an ambassador for Tiger.Trade, McGregor’s involvement in crypto has been indirect via the UFC’s partnership with Crypto.com, where bonuses were paid to the fighters in cryptocurrencies.

The recent game launch, while well received by fans for its graphics and premieres, also faced criticism related to its lack of story. Unlike the majority of top UFC fighters, McGregor has not attached his name to now-defunct NFT projects and continues to maintain secrecy about his cryptocurrency investment choices.

Eminem buys Bored Ape NFT for $460,000

Marshall Mathers, aka Eminem, is one of those rare celebrities who make headlines for investing in NFTs instead of trying to sell their collections. The fifteen-time Grammy winner purchased the Bored Ape ‘EminApe’ NFT for $460,000, which features a gold chain necklace and khaki army cap that Eminem wears in real life.

Eminem’s connection with crypto dates back to 2018, when the rapper mentioned Bitcoin (BTC) in his newly released album Kamikaze. However, the subsequent NFT purchase established his interest in crypto investing. In June 2022, Eminem released a Bored Ape Yacht Club (BAYC) NFT music video featuring rap legend and fellow crypto enthusiast Snoop Dogg.

Although Eminem has not publicly shared an affinity for any particular crypto-asset for investment, the rapper continues to partner with BAYC for live performances.

Maria Sharapova became a strategic investor in Moonpay

Tennis legend Maria Sharapova, along with other A-list celebrities such as Gal Gadot, Bruce Willis and Justin Beiber, invested in the crypto payment solution Moonpay. The company revealed that more than 60 public figures and celebrities in the music, sports, media and entertainment industries have come together to invest $87 million in a Series A funding from November 2021.

The investment marked Sharapova’s foray into the crypto world. However, the superstar has yet to reveal his plans for investing in crypto assets.

Snoop Dogg: The face of Web3 and NFTs

Snoop Dogg’s position as the OG stands true in the crypto world considering his proactive involvement in the space for many years. Snoop’s first interaction with the crypto community started with him warning against copycats marketing fake Snoop Dogg-branded tokens and NFTs.

After acquiring knowledge of the industry, the rapper collaborated with a number of crypto projects, including crypto exchanges, Web3, games and NFTs, effectively catalyzing the mainstream adoption of crypto.

Most recently, Snoop Dogg announced the launch of a new restaurant in Los Angeles inspired by BAYC NFTs, called Bored and Hungry. Despite the fading of the hype surrounding NFTs, the smoke king continues to show love to the ecosystem.

Floyd Mayweather is making a crypto comeback

Legendary boxing champion Floyd Mayweather marked his entry into the cryptoverse in 2018, promoting a high-profile crypto scam called Centra Tech. Legal implications of promoting unsupervised crypto projects required Mayweather and co-promoter DJ Khaled to pay fines of $600,000 and $150,000 respectively.

Learning from his past mistakes, Mayweather launched a new NFT project Mayweverse – consisting of a collection of 5,000 NFTs. The boxer’s track record of being involved in projects that have attracted investors has left his fans and the general public with mixed feelings about the new crypto project.

Matt Damon chooses philanthropy via crypto donations

Hollywood superstar Matt Damon received $1 million in donations from crypto exchange Crypto.com for Water.org, a clean water initiative founded by Damon and Gary White in 2009. As part of the deal, Crypto.com endorsed its user base chip for the cause.

Matt Damon starring in Crypto.com commercial. Source: YouTube

Although Damon has not disclosed his crypto investments, his participation in a Cypto.com advertisement drew criticism from a majority of the crypto community. Investors reciprocated Damon’s suggestion that “Fortune favors the brave” as the bear market resulted in massive losses throughout the industry.

Related: Celebrity NFT Brands: How Celebrities Can Promote the NFT Space

Bucking the growing trend of celebrity-backed NFT projects, consumer watchdog group Truth in Advertising (TINA.org) called out 19 celebrities who promoted NFTs without disclosing their affiliation with the projects.

The consumer nonprofit revealed its intention to investigate celebrities who promote “misleading” crypto investments. The website says:

“The promoter often fails to disclose material affiliation with the approved NFT company.”

In response to TINA.org’s letter related to the promotion of NFTs on their social media accounts without disclosing their affiliation with the projects, Justin Bieber’s legal team responded by denying any wrongdoing. However, the team confirmed to update the social media posts.