The positions come with six-figure salaries, ranging from $450,000 to $650,000 for the Technical Director role and $300,000 to $900,000 for the Product Manager position.
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The Writers Guild of America sent out a list of demands to Hollywood studios, including regulating AI usage in guild-affiliated projects.
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An eight-episode limited series exploring the unraveling and scandals behind sunken crypto exchange FTX and its leadership is slated to soon begin production. The series has been purchased by technology conglomerate Amazon, and will likely air on Amazon’s video streaming service Prime.It’s understood to be based on “insider reporting” from journalists covering FTX and its founder Sam Bankman-Fried according to a Nov. 23 report from the entertainment magazine Variety.Brothers Joe and Anthony Russo, famed for directing Avengers: Endgame and multiple other Marvel-owned movies are reported to have sold the idea to Amazon and are slated to direct the mini-series.Details are sparse with what direction the series will take, the source material it will draw from, and what time period and people it will focus on, with all of it still kept under wraps for the time being.In their reason for pursuing a series on the FTX story, the Russos brothers told Variety what happened with the exchange “is one of the most brazen frauds ever committed,” and opined on Bankman-Fried:“At the center of it all sits an extremely mysterious figure with complex and potentially dangerous motivations. We want to understand why.”Amazon is slated to start producing the show as early as March 2023, and while the characters and the actors who will play them are unknown, it’s reported the Russos are in discussions with prior Marvel actors they’ve worked with to fill the main roles. The idea for FTX-inspired movies akin to The Big Short and the Wolf of Wall Street has already been joked around on Twitter over a week ago, with some members of the community already taking the initiative to cast who would play Sam Bankman-Fried, Alameda CEO Caroline Ellison, Binance CEO Changpeng Zhao and other related players, such as Terra’s Do Kwon. One Twitter user pitched the idea of “FTX THE MOVIE” on Nov. 12, selecting Wolf of Wall Street’s Jonah Hill to play Bankman-Fried, while comedian Jimmy O. Yang could play Changpeng Zhao. #FTX THE MOVIE @SBF_FTX @cz_binance pic.twitter.com/DWorL6G7An— EvilEyes (@SolanaEyes) November 11, 2022Another user created a promotional poster with their take on the film’s title: “The Wolf of Effective Altruism” spoofing The Wolf of Wall Street and poking fun at Bankman-Fried’s philosophical stance of wanting to help others. pic.twitter.com/o76cejBB4y— Hanal Capital (@chillhanachill) November 13, 2022
It appears Hollywood is eager to snap up the rights to stories centered on the collapse of the world’s top crypto exchanges.Related: Sam Bankman-Fried still speaking at events and the community is furiousAuthor and financial journalist Michael Lewis, known for his book “The Big Short” on the 2008 financial crisis, is reportedly looking to sell book rights on an FTX story after spending six months with Bankman-Fried in the months leading up to FTX’s implosion.Big Tech player Apple is reportedly the front-runner for the rights beating out competitors Amazon and Netflix, with intentions to create a film for its video-streaming service Apple TV Plus.
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The crypto industry has had its share of issues with marketing, from projects many authorities labeled as scams to high-profile branding with sports franchises, but one ad that has stood out came from crypto exchange Crypto.com featuring Hollywood star Matt Damon.Many have ridiculed the “fortune favors the brave” ad starring Damon since its release in October 2021, using the TV spot as a creative springboard to criticize the crypto space and celebrities supporting it. The creators of South Park have aired two episodes and one two-part special poking fun at crypto users and the Crypto.com ad specifically. Late night TV hosts including Stephen Colbert also targeted the ad spot with parodies and jokes following the market downturn in May.Still shot of Matt Damon in the Crypto.com TV spot, since made private on YouTubeAt the time Damon showed his face promoting the exchange, the price of Bitcoin (BTC) was more than $60,000, Ether (ETH) was more than $4,000, and the total crypto market capitalization was roughly $2.6 trillion. Though some tokens have delivered gains to many investors since that time, the prices of BTC and ETH have dropped more than 60% since 2021, reaching $20,627 and $1,552 at the time of publication, respectively.It’s unclear how much Crypto.com may have compensated Damon for the ad — he also received $1 million in donations for Water.org — but the actor was not the only celebrity promoting crypto firms. Actor and producer Reese Witherspoon’s company partnered with a nonfungible token collection to develop feature films and a television series, and Kim Kardashian promoted the EthereumMax project on her Instagram stories — which later led to charges from the United States Securities and Exchange Commission.Today @SECGov, we charged Kim Kardashian for unlawfully touting a crypto security.This case is a reminder that, when celebrities / influencers endorse investment opps, including crypto asset securities, it doesn’t mean those investment products are right for all investors.— Gary Gensler (@GaryGensler) October 3, 2022Related: Influential celebrities who joined the crypto club over the past yearOther marketing and regulatory efforts by the crypto exchange seem to be continuing to move forward despite CEO Kris Marszalek announcing layoffs in June. Financial regulatory authorities in Italy, Cyprus, France and the United Kingdom have approved Crypto.com to offer crypto services to their residents, and the exchange proceeded with renovating the former Staples Center in Los Angeles following a $700-million agreement.While Crypto.com inked many sponsorship deals with sports organizations prior to the market downturn, reports have suggested that the exchange may have reduced the scale of some of these partnerships. Cointelegraph reported in September that the crypto exchange dropped out of a half-billion-dollar sponsorship deal with the Union of European Football Associations Champions League. An October report suggested Crypto.com’s deals with the Los Angeles’ Angel City Football Club, the 2022 FIFA World Cup in Qatar and esports tournament host Twitch Rivals may also have been affected.
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Oscar award-winning actor Sir Anthony Hopkins has sold out his debut NFT collection “The Eternal Collection” in under 10 minutes. The collection, created in partnership with Orange Comet Inc, an NFT and Web3-focused design agency, features 1000 original cinematic art pieces inspired by different performances within the actor’s long career. According to the collection’s description on OpenSea, the body of work “conceptualizes an interpretation of the vast character archetypes Sir Anthony Hopkins has portrayed over his illustrious film career, drawing its potent energy from his stimulating body of art.” The creative visuals and animations with names like, “The Jester”, “The Lover”, “The Ruler”, “The Rebel”, “The Giver”, and “The Eternal”. Each represents the various archetypal characters played throughout the Hollywood actor’s career. The NFT, and Web3-focused design agency, Orange Comet Inc alleged that the collection’s sellout was the fastest in OpenSea’s history, though Cointelegraph was unable to confirm the claim prior to publication.THE ETERNAL COLLECTION SOLD OUT IN LESS THAN 7 MINUTES THE FASTEST SELL OUT IN @opensea HISTORY Thank you @AnthonyHopkins✌ pic.twitter.com/KYH0T1hXeu— Orange Comet (@OrangeCometNFT) October 13, 2022The celebrated actor thanked the NFT community in a tweet stating that he still couldn’t believe the news of the collection’s sell-out. Thank you, everyone. I woke up this morning to this news, and I still can’t believe it. #TheEternalCollection @opensea @OrangeCometNFT @InnerCityArts https://t.co/vwJGCqicri— AHopkins.eth (@AnthonyHopkins) October 14, 2022
The unique 990 one-of-one NFT images come with randomly selected utilities ranging from receiving autographed dreamscapes art books featuring the actor’s paintings and drawings, to intimate discussions with Anothony Hopkins via zoom, and random selections of personalized NFTs with a message from Hopkins airdropped into their wallets.The project tweeted that this is the fastest-selling NFT collection on OpenSea, but Cointelegraph was unable to verify the accuracy of this claim prior to publication.
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The inclusive crypto ecosystem has become home to numerous A-list celebrities over the years — primarily driven by the nonfungible tokens (NFT) hype of 2021. However, despite the prolonged bear market and an evident dip in cryptocurrency prices, celebrities continue to pour in support for the crypto market. Over the past year, celebrities have started exploring sub-ecosystems beyond NFTs, trying to diversify their presence across trading, gaming and other investment avenues. In this light, here’s an overview of some of the most influential celebrities that got into crypto over the past year and how well-prepared they are for the next bull run.Connor McGregor partners with Tiger.TradeUFC superstar Connor McGregor, one of the highest-paid athletes, recently partnered with Tiger.Trade, a crypto trading app. A part of the deal involves McGregor featuring in an in-house game that users can play to win exclusive prizes. Who wants to play?!!! The only rule is to play #SmarterNotHarder Conor McGregor in the game! Are you ready to win with @tiger_trade? https://t.co/FlJX5prxHf pic.twitter.com/9ZCrRizxWC— Conor McGregor (@TheNotoriousMMA) September 12, 2022Prior to signing as an ambassador for Tiger.Trade, McGregor’s involvement in crypto has been indirect via UFC partnerships with Crypto.com, wherein bonuses were paid to the fighters in cryptocurrencies.The recent game launch, while well-received by fans for its graphics and prizes, was also subject to criticism related to the lack of story. Unlike the majority of top UFC fighters, McGregor has not linked his name with now-defunct NFT projects and continues to maintain secrecy around his investment choices in cryptocurrency.Eminem purchases Bored Ape NFT for $460,000Marshall Mathers, aka Eminem, is one of the rare celebrities to make headlines for investing in NFT rather than trying to sell their collections. The fifteen-time Grammy winner purchased Bored Ape ‘EminApe’ NFT for $460,000, which depicts 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 investments. In June 2022, Eminem released a Bored Ape Yacht Club (BAYC) NFT-themed music video featuring rap legend and fellow crypto enthusiast Snoop Dogg.While Eminem hasn’t publicly shared affinity toward any particular crypto asset for investments, the rapper continues to collaborate with BAYC for live performances.Maria Sharapova became a strategic investor in MoonpayTennis legend Maria Sharapova, along with other A-list celebrities such as Gal Gadot, Bruce Willis and Justin Beiber, invested in crypto payment solution, Moonpay. The company revealed that more than 60 public figures and celebrities in the music, sports, media and entertainment industries joined hands to invest $87 million in a Series A funding from November 2021.Excited to transform the way creatives, artists & athletes approach ArtFan engagement ⚖️Intellectual property management With the help of our new strategic investors. pic.twitter.com/sfeH1Hhibh— MoonPay (@moonpay) April 13, 2022
The investment marked Sharapova’s entry into the crypto world. However, the superstar is yet to reveal her plans for investments in crypto assets. Snoop Dogg: The face of Web3 and NFTsSnoop Dogg position as an OG stands true in the world of crypto considering his proactive involvement in the space for many years. Snoop’s first interaction with the crypto community started off with him warning against impersonators marketing fake Snoop Dogg-branded tokens and NFTs. After acquiring knowledge about the industry, the rapper collaborated with numerous crypto projects, including crypto exchanges, Web3, games, and NFTs, effectively catalyzing the mainstream adoption of crypto.Announcing the newest member on the Food Fighters Universe team @SnoopDogg AKA Dr. Bombay pic.twitter.com/itZqpG3neQ— Food Fighters Universe | MINTING NOW (@FoodFightersU) June 3, 2022
Most recently, Snoop Dogg announced the launch of a new restaurant in Los Angeles inspired by BAYC NFTs, named Bored and Hungry. Despite the dimming down of the hype around NFTs, the smoke king continues to show love for the ecosystem. Floyd Mayweather makes a crypto comebackLegendary 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 unvetted crypto projects required Mayweather and co-promoter DJ Khaled to pay fines of $600,000 and $150,000, respectively.After many months of hard workI’m launching my new NFT Project @mayweverse⁰The collection will have 5,000 NFTs (5 different NFTs cards of 1,000 each).Each card has a different rarity, utilities & prizes.More information on the roadmap will be announced soon. Stay Tuned pic.twitter.com/SxZ916p0HP— Floyd Mayweather (@FloydMayweather) March 21, 2022
Learning from his previous mistakes, Mayweather launched a new NFT project Mayweverse — consisting of a collection of 5,000 NFTs. The boxer’s track record in being involved with projects that have rug-pulled investors has left his fans and the general public with mixed feelings about the new crypto project.Matt Damon opts for 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 co-founded by Damon and Gary White in 2009. As part of the deal, Crypto.com recommended its user base chip in for the cause. Matt Damon starring in Crypto.com commercial. Source: YouTubeAlthough Damon hasn’t disclosed his crypto investments, his participation in a Cypto.com commercial attracted criticism from a majority of the crypto community. Investors retaliated against Damon’s suggestion of “Fortune favors the brave” as the bear market resulted in massive losses across the industry.Related: Celebrity NFT brands: How celebrities can advance the NFT spaceGoing against the rising trend of celebrity-backed NFT projects, consumer watchdog group Truth in Advertising (TINA.org) called out 19 celebrities promoting NFTs without disclosing their connection to the projects. The non-profit consumer advocacy company revealed its intent to investigate celebrities that promote “deceptive” crypto investments. The website states:“The promoter often fails to disclose material connection to the endorsed NFT company.”Responding to TINA.org’s letters related to the promotion of NFTs on their social media accounts without disclosing their connection to the projects, Justin Bieber’s legal team responded by denying any wrongdoing. However, the team confirmed to update the posts on social media.
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Miramax sued the director in November last year after the base-layer blockchain provider Secret Network announced the auction of “uncut screenplay scenes” from the 1994 film as NFTs. The film studio claimed to own all rights to “Pulp Fiction,” except for those reserved for Tarantino, which excluded nonfungible tokens. The company was developing its own NFT strategy at the time. In a statement, the studio’s attorney Bart Williams wrote: “This one-off effort devalues the NFT rights to “Pulp Fiction,” which Miramax intends to maximize through a strategic, comprehensive approach.” On the auction’s original press release, Secret Network claimed that Tarantino owned “exclusive rights to publish his Pulp Fiction screenplay and the original, handwritten copy has remained a personal creative treasure he has kept private for decades.” The auction raised $1.1 million in January, but was followed by the cancellation of additional NFT sales due to the dispute.Tarantino and Miramax have partnered in other successful productions, including “Kill Bill: Volumes 1 and 2”. “Pulp Fiction” ended up grossing $107.93 million in the United States and $213 million worldwide in the years since its release in 1994.Hollywood director Quentin Tarantino and producer Miramax appear to have settled their lawsuit over nonfungible tokens (NFTs) related to the blockbuster film Pulp Fiction following a months-long legal battle. The movie studio reportedly plans to withdraw its lawsuit within two weeks and collaborate with the filmmaker in the future, including on NFTs projects.
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In November 2021, MoonPay announced a $555 million Series A financing round that brought the crypto payment platform’s valuation to $3.4 billion. On Wednesday, the fintech company revealed that $87 million of the total $555 million came collectively from more than 60 public figures and celebrities in the music, sports, media and entertainment industries. While the Series A round was led by firms like Tiger Global Management and Coatue with participation from Blossom Capital, Thrive Capital, Paradigm and NEA, the following household names are also considered strategic investors: Gwyneth Paltrow, Maria Sharapova, Eva Longoria, Gal Gadot, Matthew McConaughey and Bruce Willis. Other “industry VIPs” like Ashton Kutcher, Justin Bieber, Snoop Dogg, Paris Hilton and Steve Aoki are all already deeply involved within the crypto and nonfungible token (NFT) space. Related: Snoop Dogg may be the face of Web3 and NFTs, but what does that mean for the industry?The company shared that this funding and the continued support from investors will enable it to accelerate its international expansion, grow the team and bring in new partners. MoonPay’s longterm mission is to increase cryptocurrency access to the next 1 billion people by 2030.Excited to transform the way creatives, artists & athletes approach ArtFan engagement ⚖️Intellectual property management With the help of our new strategic investors. pic.twitter.com/sfeH1Hhibh— MoonPay (@moonpay) April 13, 2022MoonPay is best known for letting users purchase cryptocurrencies and NFTs with a credit or debit card, bank transfers or mobile wallets on Apple Pay and Google Pay. The investments have allowed the fintech startup to develop new products like NFT Checkout and MoonPay Concierge, a referral-based service for high-net-worth individuals that purchases crypto and NFTs on their behalf for a fee. For example, when actress Gwyneth Paltrow wanted a Bored Ape Yacht Club (BAYC) NFT she went to MoonPay and then thanked the company via Twitter.Joined @BoredApeYC ready for the reveal? Thanks @moonpay concierge pic.twitter.com/gzm1JQEHHF— Gwyneth Paltrow (@GwynethPaltrow) January 26, 2022
Paltrow, who is also the co-founder of Kinship Ventures, said in a statement that “Web3 is inspiring the entertainment industry, and commerce in general, to reimagine the way we create community, connect with fans, build value and manage intellectual property.”Rapper Post Malone even promoted MoonPay in his music video for “One Right Now” with The Weeknd by purchasing a BAYC NFT via the app onscreen. In addition to the music video, Malone recorded his purchase of two Bored Apes for a combined 160 Ether (ETH), worth roughly $682,000, in TikTok videos sponsored by MoonPay.Apart from actors and artists, athletes like Paul George, a seven-time NBA All Star and Olympic Gold Medalist, recognized that “Crypto and NFTs will be key to maximizing the business of professional sports as we look ahead.”Related: High-profile athletes are spending huge amounts on NFTs: Here’s whyWhen asked how MoonPay plans to onboard the world to Web3, MoonPay’s head of communications Justin Hamilton told Cointelegraph that the company is “Laser-focused on helping foster a healthy ecosystem of partners with reliable payment infrastructure.” He added that the best way to foster adoption is by “Empowering creators to own their IP and have greater control on their creative output and financial support.” So far, 10 million customers across 160 countries have processed close to $3 billion in transactions via MoonPay through more than 250 partner sites, including Bitcoin.com and OpenSea, according to the company.
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Cryptocurrency exchange Crypto.com plans to use its ad time during the 94th Academy Awards on Sunday to air a TV spot regarding the humanitarian crisis in Ukraine.In a Wednesday announcement, Crypto.com CEO Kris Marszalek said the exchange had partnered with the International Committee of the Red Cross, or ICRC, to launch a campaign aimed at helping those suffering under war-torn conditions in Ukraine. The CEO did not specify what the campaign would entail, but the platform already allows donations in crypto, fiat and nonfungible token purchases to the humanitarian network Red Cross Red Crescent. The exchange will match up to $1 million in donations until March 31.“The humanitarian crisis caused by the conflict in Ukraine continues to escalate, and I believe it’s our responsibility to support those in need,” said Marszalek. “Throughout this tragedy, the entire cryptocurrency community has come together to show the world who we are, our values and the importance of what we’re building.”We’re matching donations to the Red Cross Red Crescent all weekend, in support of people affected by the crisis in #Ukraine.Donate now at https://t.co/iEUh6H77qP.@ifrc @icrc pic.twitter.com/kGd9ii65Zu— Crypto.com/donate (@cryptocom) March 25, 2022According to the ICRC, more than 3.6 million people have fled Ukraine as of March 24, which marked a month since Russian military forces invaded the country. Reports out of Ukraine suggest millions of people are facing food and water shortages, lack of medical care due to many hospitals being damaged or destroyed, and displacement after being forced to leave the eastern parts of the country.Many private businesses are facilitating donations of digital assets including Bitcoin (BTC) and Ether (ETH) towards helping Ukrainians. In addition to Ukraine’s government accepting crypto donations directly through wallet addresses provided by the Ministry of Digital Transformation, the legislative body partnered with exchanges FTX and Kuna and staking platform Everstake to launch a donation website on March 14. Cointelegraph reported that as of March 9, many charities, relief organizations and government wallets had received roughly $108 million in crypto toward helping Ukraine.Related: Every Bitcoin helps: Crypto-fueled relief aid for UkraineIn addition to its efforts for Ukraine, Crypto.com announced on Tuesday it would be an official sponsor of the 2022 FIFA World Cup in Qatar scheduled to begin in November. The exchange has made a major marketing push in the last year, partnering with many sports organizations, including the Australia Football League, Formula 1 and the Ultimate Fighting Championship.
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The media and entertainment industry, in particular Hollywood, has a grip-like monopoly on the intellectual property, or IP, produced for public consumption. Writers and artists rarely maintain true ownership over the characters they create and have little to no say in the merchandise or content that is ultimately presented. Similarly, viewers and fans rarely have power over the stories that are told by the franchises they consume.Let’s take Marvel comics for example. Many of the company’s most famous characters were originally created by comic book artists like Stan Lee, Steve Ditko and Jack Kirby. The late Stan Lee, however, ended up suing Marvel in 2002 claiming he didn’t get his proper share of the profits. And he isn’t alone. Currently, Disney’s Marvel and Steve Ditko’s family estate are in a legal battle over who gets to retain full ownership over many Avengers-related characters.This tide may be changing, however, thanks to blockchain. To get more insight into intellectual property when it comes to blockchain, Cointelegraph spoke to Daniel Eilemberg, content president at EXILE, a media company that produces entertainment content across the U.S. and Latin America.According to Eilemberg, “most of the IP behind today’s biggest Hollywood franchises isn’t new” because Hollywood tends to be “rather risk averse” when it comes to creating new IPs. Instead it prefers to “breath new life and extend the lifeline,” of established properties. Independent creators who do incubate new content tend to go through outlets like books, comics, theatre or podcasts first. The NFT space now offers independent creators an opportunity to produce art and build a fanbase without a big money intermediary.That’s why EXILE partnered with start-up Curatible and painter Edgar Plans to found an original NFT project in-studio, rather than acquire one, called Lil’ Heroes. Its characters exist as assets on the Ethereum blockchain and the plan is to develop the concept into an animated TV series. Eilemberg described how the characters themselves and the potential of plot lines created by fans served as the foundation of the NFT collection.”When I first saw Edgar’s characters and the universe they inhabit, we fell in love with them,” said Eilemberg. “They’re children playing out their fantasies as superheroes, and we knew that would really connect with audiences.”Related: Pixel Vault raises $100M for NFT development platformEilemberg lamented that the idea of a distributed and transparent creative process was quite different from traditional film and TV development. Lil’ Heroes wants to challenge that using new IP and by leveraging its growing and loyal fanbase. The team aims to attract a community of young fans via a new kind of entertainment franchise, with the NFT drop as the first step in a multi-phase plan. Conversations between EXILE, Plans and Curitable — a startup that recruits high caliber artists to the NFT space — first took place over a year ago. Plans hand-drew every attribute and then modeled it in 3D to create the NFTs. The Lil’ Heroes collection dropped in mid January, sold out and trended first on OpenSea by volume in the first 24 hours. The collection’s reveal took place one week later, and at the time of publication ranked in 15th place in terms of trading volume in the last 30 days. Eilemberg attributed much of the project’s success thus far to the art itself.”I think it’s a combination of an established artist whose characters have proven to be very appealing and approachable, a strong roadmap backed by a team with experience in the art, entertainment and NFT spaces, and the right project at the right time.”Despite these early wins, the project has a long road ahead. According to the Lil’ Heroes roadmap, token holders can expect exclusive merchandise as well as NFT charity lots to be included in upcoming Sotheby’s and PHILLIPS auctions. Eilemberg told Cointelegraph that he’s currently in-talks with one of the industry’s largest metaverse projects. He suggested that, if all goes well, they’re looking to build, “an immersive experience that will incorporate art, music and NFTs.” According to the Lil’ Heroes website, part of the mission of this collaboration is “to build a bridge between the traditional art and the NFT world.” And each character is meant to be a “vessel to raise awareness on heavy, socio-political issues such as gender violence, racism and climate change.” Related: OpenSea monthly volumes top $5B as NFTs continue to mainstreamNFTs by nature allow for the distribution of value to their holders, especially to early fans, who in this case will gain access to the aforementioned activities, with the potential for virtual and real life events and to fractionalized physical art proposed by Plans. Eventually, EXILE hopes to produce an animated series in collaboration with Plans, which could be made available on streaming platforms. The characters’ stories will be created with input from its community, according to Eilemberg.Lil’ Heroes is just one of many NFT collections with plans for the small screen. From 1inch Network’s crypto-funded Take My Muffin and The Red Ape Family featuring Bored Apes to Mila Kunis’ Stoner Cats series, these are all examples of projects that require user participation to access and influence.
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Though the crypto space has seemingly moved beyond the endorsements many minor celebrities bestowed on token projects during the 2018 initial coin offering boom, its growing popularity and acceptance now has professional sports players, Hollywood elites and politicians backing major companies dealing with digital assets.In June 2021, Kim Kardashian promoted EthereumMax (EMAX) via an Instagram story shared with her more than 200 million followers. The token, which was used as payment for online ticket purchases for some pay-per-view events, gained 116,000% in just one week following the celebrity’s activity before falling more than 99% and leaving many investors in the red.Kim Kardashian promoting EthereumMax on Instagram Stories, June 2021. Source: InstagramThough EthereumMax is somewhat of a cautionary tale for crypto newbies looking to get involved in the space, it also represents one of the select times a major international figure outside of finance and politics not only spoke about digital assets but actively promoted a specific project for a fee — the story was labeled as an ad. Kardashian, recognized by many as an A-list celebrity, rose to fame largely outside of Hollywood circles, so her seeming stamp of approval on a token project was a surprise to many.Others in film and television entered the crypto space for the first time in 2021 following months of time spent mostly indoors during the worst waves of the COVID-19 pandemic. Mila Kunis, an actress famous for her roles in That ’70s Show and Family Guy, launched an animated nonfungible token (NFT) project based on cats who drink alcohol and smoke marijuana. However, the biggest endorsement of a crypto firm last year arguably came from film star Matt Damon, who appeared in a global ad spot for Crypto.com.Sports franchises also branched into crypto, either through official partnerships with exchanges or with individual players promoting certain campaigns or companies. Tom Brady, quarterback for the Tampa Bay Buccaneers and a seven-time Super Bowl champion, took an equity stake in crypto exchange FTX and is currently acting as an ambassador for the firm following an endorsement deal in June. His wife, Brazilian supermodel Gisele Bündchen, accepted a role as the exchange’s environmental and social initiatives adviser.“This particular opportunity showed us the importance of educating people about the power of crypto while simultaneously giving back to our communities and planet,” said Brady at the time.Cash App, a digital payments app developed by Block (formally known as Square), has also formed partnerships with NFL players, allowing them to receive their salaries in Bitcoin (BTC), amounting to millions of dollars. Odell Beckham Jr., wide receiver for the Los Angeles Rams, announced in November that he would be taking his $4.25-million salary in crypto. The professional athlete currently has a CryptoPunk-style image as his Twitter profile picture. Cash App offered a similar deal to Green Bay Packers quarterback Aaron Rodgers, who later found a place in the national spotlight after deceiving the public about his COVID-19 vaccination status.With the exception of Kardashian, celebrities jumping into the space in 2021, compared with those who followed the 2017 bull run, seem to be partnering with more established firms and projects with enough exposure to shake off any potential “scam” label. It’s unclear whether this can be attributed to the space seemingly gaining more acceptance across the world or to companies growing to the point where they have the financial means and influence to hire more prominent public figures.NFTs saw their share of celebrities last year, as well. In March, Canadian musician Grimes — sometimes associated with Tesla CEO and Dogecoin (DOGE) proponent Elon Musk — sold roughly $6 million worth of NFTs encompassing artwork and audio-visual animations. In December, NBA star Kevin Durant and sports manager Rich Kleiman announced that their venture capital firm, Thirty Five Ventures, would be partnering with crypto exchange Coinbase to create NFT drops. Musical artists such as Katy Perry, Kings of Leon, Snoop Dogg, Eminem, Jay-Z, Shakira and others also launched similar initiatives in the NFT space last year.The trend of celebrities endorsing crypto is not without its detractors, however. Ben McKenzie, known for his roles on TV shows such as Gotham and The O.C., partnered with New Republic staff writer Jacob Silverman to call out actors and influencers for promoting the “illusory” rewards of cryptocurrencies. The pair have criticized Kardashian and others for seemingly labeling crypto projects as “a path to sustainable riches” without informing fans of the potential risks. Thank you @CNN for covering this story. There is an enormous amount of fraud in the crypto markets. Jacob and I will write about it at length. Please be smart folks, only gamble with what you can afford to lose. https://t.co/Q6muDzT4LS— Ben McKenzie (@ben_mckenzie) November 30, 2021“Whether it’s Lindsay Lohan peddling five-figure NFTs, laser-eyed Tom Brady endorsing the exchange FTX, or Akon promising to build a $6 billion, crypto-inspired city in Senegal, there’s a lot of capital swirling around this industry, and much cause for worry,” said McKenzie and Silverman in November. “Celebrities are encouraging their fans to gamble on speculative, unproven investments that may soon see a major regulatory crackdown, if not an outright implosion of the market.”Whether celebrity attention will help on the road to mass adoption remains to be seen. For the moment, associations between respected public figures and established crypto firms show many promising signs, from increasingly positive social media chatter to some correlations with price movements, often an indication of large buys and sells.
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Silk Roads lead to nonfungile tokens Bidding for a 1/1 NFT auction created by imprisoned Silk Road founder Ross Ulbricht has surpassed 261 Ether (ETH), $1.17 million at the time of writing. The NFT depicts a hand-drawn illustration from Ulbricht of a psychedelic eye, and is part of a collection of writings and nine other artworks he created, some while in prison, that are included as part of the NFT sale. The auction kicked off on day one of the Art Basil Miami art fair on Dec. 2 and is being hosted by SuperRare. The auction is set to conclude on Nov. 8 and proceeds from the sale will go towards a trust supporting Ulbricht’s fight to be freed from his double-life prison sentence, and will also help launch the donor-advised charitable fund Art4Giving that aims to help prisoners and their families. In a blog post announcing the NFT drop, Ulbricht said that while his future looks bleak during his ninth year in prison without parole, he can do something positive to heal all the “damage” he sees around him.$225K NFT on sale for $20?Speaking of the Art Basil Miami art fair, Dmitri Cherniak the founder of the Ethereum-based and algorithmically generated NFT collection “Ringers” made an appearance out the front, offering to sell one of his NFTs worth $225,000 for a mere $20. It is unclear if the move was in jest, or a genuine offer however Cherniak shared a picture of himself at the event with a note on his Ipad that read “Ringers #0 for sale for $20.” Despite the floor price for Ringers NFTs currently sitting at 50 ETH or $225,000 on OpenSea, the artist noted that nobody took him up on the offer. Stood outside of the Art Basel convention center with a sign that said “Ringers #0 for sale for $20” and no one took me up on the offer. pic.twitter.com/2DWr7aml4A— Dmitri Cherniak (@dmitricherniak) December 2, 2021One user on Twitter noted that the stunt was similar to that of world-famous street artist Banksy, who has reportedly taken to the streets on multiple occasions to sell his art.“This is just like Banksy selling on the streets and no one taking him up on it until he started slashing prices. Dmitri might have gotten a nibble from the normies at $5-10, they def ngmi,” user 5511 wrote. Polygon to launch NFT gamesPolygon (MATIC), the Ethereum-based layer-two scaling solution and its gaming unit Polygon Studios have entered into a strategic partnership with GameOn Entertainment Technologies Inc. to build NFT games. GameOn is a U.S.-based sports prediction and gaming firm that caters to sports and media entertainment.According to a Dec. 2 announcement, the deal will see GameOn launch a series of NFT games on the Polygon network, while Polygon Studios will provide non-dilutive funding for 50% of GameOn’s going product development costs. The investment from Polygon Studios is part of a $100 million fund announced earlier this year that is focused on backing Web3 projects, with investments so far including DraftKings, DeFine and GameOn. Related: Deadmau5 and Portugal The Man release single as 1M NFTs in bid to go platinumGameOn stated in the announcement the partnership with Polygon Studios will significantly help the firm ramp up plans for the NFT sector. “The Polygon Studios investment allows GameOn to offer the full stack of capabilities from the creation, minting and selling of NFTs, to the game layers it already deploys for white label customers such as prediction and fantasy games,” the announcement read.Irishman producer looks to fund movies with NFTsNeils Juul, the executive producer behind Martin Scorsese’s hit film The Irishman, has created a new NFT company that aims to fund Hollywood films via NFT sales. According to a Dec. 1 report from The Hollywood Reporter, Juul’s new firm is dubbed “NFT Studios” and already has plans to fund a new comedy-drama film from NFT sales called “A Wing and a Prayer.”The movie will depict the real-life story of Brian Melton, who became the first man to circumnavigate the globe in an ultralight aircraft back in 1998. The film aims to feature A-list actors and is set to be shot in Malta and London by next April.“We are in the middle of a great transition in the entertainment business where traditional ways of film funding and ownership are being uprooted due to the rapid rise of streamers and other digital platforms,” Juul told the publication. Other Nifty NewsOn Thursday, Adidas announced it was entering the Metaverse in partnership with the Bored Ape Yacht Club creators Yuga Labs, gmoney NFT, and PUNKS Comic.On the same day, registered investment adviser and fintech firm Defiance launched the first NFT-focused exchange-traded fund (ETF) on the New York Stock Exchange Arca. The fund is listed under the ticker symbol NFTZ and has a management fee of 0.65% per year.
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