A couple of years ago, the idea of buying and selling crypto art using non-fungible tokens (NFTs) would have seemed absurd. However, Internet trends appear to move at the speed of light. Celebrities and their followers have joined the bandwagon.
Paris Hilton released her first non-fungible token (NFT) in April 2021, making headlines as one of the celebrities who publicly “aped in” during the 2021 hype.
But times have changed since then. Ether’s price has plummeted 60% since the beginning of 2022, and NFT trading volume has decreased 88% since the third quarter of 2021. We look into the current state of Celebrities who own NFTs and cryptos.
Celebrities who own NFTS
1. Snoop Dogg
Snoop Dogg, a rapper and music producer, purchased the work of digital artist XCOPY in December 2021.
Snoop paid 1,600 ETH, or $7,088,229 at the time, for the initial NFT. With the reduction in the value of Ethereum, the same number of ETH would be worth less than two-thirds of its initial value.
Snoop’s growing interest in NFTs and Web3 has been notable in recent years. Snoop Dogg revealed his plans to transform Death Row Records into an NFT music company in February 2022, followed by the release of a selection of NFT tracks on OpenSea a few weeks later.
2. Paris Hilton
At the beginning of the twenty-first century, Paris Hilton epitomized all emerging fashion trends. From her passion for Y2K fashion to her proclamation that the selfie will become the new signature, the heiress has always appeared to be one step ahead, which has now extended to the crypto art sector.
Hilton, in conjunction with designer Blake Kathryn, developed a series of three unique pieces with the titles “Hummingbird in My Metaverse,” “Legend of Love,” and “Iconic Crypto Queen.”
As of April 2021, Hilton sold the complete collection for slightly over a million dollars and released two new NFT-inspired real-life dogs, “Crypto Hilton” and “Ether Reum.” Hilton remarked that she is so involved in the new media as a venue for fresh creations that she dreams of future projects, artists, and even metaverses, applauding its democratization of art, when asked why she is embracing the trend.
3. Gary Vee
Gary Vaynerchuk (also known as Gary Vee), an entrepreneur and NFT influencer, purchased CryptoPunk #2140 for 1,600 ETH, or $3,953,216 in July 2021. He is among the first celebrities to venture into BAYC.
According to a press release, Vaynerchuck, the entrepreneur who developed the restaurant reservation platform Resy, owns more than 7,000 NFTs. In the Web3 realm, he is not just a collector but also a builder. In May 2021, he released the VeeFriends NFT collection on OpenSea, and in May of this year, he filed a trademark for Vayner3, his own NFT consulting firm.
4. Steve Aoki
DJ Steve Aoki is a bonafide genre-bender, as he embraced the electronic collector trend by doubling down on his NFT release in March 2022. Aoki, firmly convinced that NFTs are here to stay, collaborated with creative director and 3D visual artist Antonio Tudisco to create “Dream Catcher,” a piece that included physical copies and grossed over $4.29 million.
Recently, Aoki collaborated with motivational speaker Tom Bileus to release the “Neon Future” NFT set. The digital artist Maciej Kyciara developed the science fiction comic, which debuted on Nifty Gateway on April 27. Reflecting on these experiences, Aoki remarked that he has always been an avid collector, and the overlap between music and new methods of collecting art has provided him with the ability to ultimately combine art, collectible culture, and music.
5. Honorable celebrities mentions
So many music celebrities have NFts. Not only has Justin Bieber won over admirers with his multiple singles, but also with his NFT collection. Bieber entered the NFT market by acquiring his first NFT, Bored Ape Yacht Club (BAYC) #3001, for 500 ETH, valued at $1.29 million. In the span of two weeks, he paid $470,000 for his second NFT, BAYC # 3850.
In addition, Shawn Mendez joined the NFT sector after collaborating with the Avatar technology company Genies. The NFT collection of one-of-a-kind apparel was released to his ecstatic admirers. By purchasing via OpenSea special merchandise such as necklaces, vests, earrings, and his virtual guitar, fans were allowed to participate in his exclusive events and join his fan base.
When Eminem was younger, he expressed this, which made him even more eager to release his own album. Eminem’s first NFT collection, “Shady Con,” was a digital event that allowed fans to acquire an NFT collectible via Nifty Gateway. Eminem has bought twelve NFTs with his most recent purchase, a bored ape NFT valued at 123.45ETH that serves as his Twitter profile photo.
Celebrities who own Crypto
During Bitcoin’s early years, the general perception of the world’s first cryptocurrency was that it was a dubious new technology supported mostly by computer nerds and Dark Web criminals. However, Hollywood celebrities and powerful figures from over the world have entered the market and changed the negative narrative.
1. Elon Musk
Despite his initial public skepticism about cryptocurrencies, Elon Musk is undoubtedly the most influential person in the Bitcoin community, despite regularly making crypto-related jokes on Twitter. In recent months, he has been known to alter the pricing on the crypto market with a single comment. Elon Musk is the most vocal advocate of Dogecoin, while Tesla takes Bitcoin as payment.
2. Lionel Messi
Lionel Messi, now the global brand ambassador for Sirin Labs, the creator of the blockchain-based secure smartphone and all-in-one computer. Leo Messi is not just one of the greatest footballers of all time, but also one of the most well-known individuals in the world. After he shared his enthusiasm about blockchain on Facebook and Instagram, the number of people who were aware of the technology surged considerably.
3. Jack Dorsey
The former CEO of Twitter and Square, Jack Dorsey, is a fervent Bitcoin investor. In 2017, he began pushing for the most popular currency, at which point he fell in love with BTC. When the cryptocurrency market fell in 2018, Dorsey was undeterred and declared Bitcoin to be the future global currency, despite the digital currency being at its lowest point in years. In 2023, he hasn’t changed his ground.
4. Mike Tyson
Mike Tyson, the boxing legend, collaborated with Bitcoin Direct to launch a Bitcoin ATM and a digital wallet for iOS and Android. When introducing the ATM line, he expressed gratitude for being a part of the bitcoin revolution. That was back in 2015 when Bitcoin was dirt inexpensive in comparison to its present value.
5. Honorouble mentions
Ashton Kutcher and his wife Mila Kunis, both of whom are prominent technology investors, are also crypto owners. A few celebrities began discussing blockchain several years ago, but more are joining the movement now. One of them is Oscar-winning actor Jamie Foxx, who used Twitter to advocate Cobinhood’s first coin offering.
DJ Khaled has endorsed Centra’s initial coin offering (ICO). On Instagram, he posted a photo of himself holding a Centra card. He also shared a video in which he discussed how to store and use various cryptocurrencies. Furthermore, Gwyneth Paltrow has made multiple headlines in support of cryptocurrency.
Bottom Line
For many celebrities, creating or promoting an NFT is about more than just generating money or keeping a prominent position in popular culture. By making or acquiring notable celebrity NFTs, actors, athletes, and singers have collected substantial funds for philanthropic organizations. Positive messages are promoted in several of these projects using digital art.
While unfavorable market conditions have prompted pivots in the NFT space, it will be fascinating to see which celebrities continue to purchase digital assets and advocate for the utility and community aspects of NFTs, while others change their PFPs and lose interest in their once-attractive investments.
