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Where Are the Celebrity Endorsed ICO Projects Now?


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.