Why Celebrities are Promoting the NFT market?

We all have a favourite celebrity. We keep track of who is popular and who will be trendy in the future! Our favourite celebrities too, follow NFT Market. And we all know what’s trending nowadays, don’t we? 

Yes, I’m talking about NFTs. From movie stars to sportsmen, anchors to kickboxers, celebrities worldwide are investing in blockchain technology. But leaving aside the flashy part, why do you think they are doing so? Money? Trend? Fame? 

Let’s find out.

As per recent reports from DappRadar, the current global NFT sales volume has reached a massive $10.7 billion in this quarter of the year. That is an 8x increase from the past quarter volumes. Below mentioned are the three main reasons that make celebrities promote NFTs.

Profitability

Yes. It’s simple. 

Don’t you want to invest in things that provide you with surplus returns? Of Course, you do! And so do the celebs too. Investing in NFTs and NFT Markets is one of the most profitable options one can have in recent times. Thanks to the uniqueness of these tokens, the rarer the NFT the higher the chances of gaining profits. 

Fame

This is tricky. 

You might ask how one can become famous by promoting something. Firstly, celebrities are “already” famous. Secondly, NFTs are becoming famous too. We bet you 10 out of fifteen people you meet every day knows something or the other about NFTs. Adding to the rate of expansion and popularity of NFT Markets worldwide, it is certain that people will learn about both NFTs and the celebrities advocating them, and vice versa.

Ownership

This is probably the best thing about NFTs. 

Thanks to blockchain technology, the information relative to the digital asset get stored in the form of smart contracts. No one can duplicate the tokens or claim ownership of them. Celebrities can convert their arts, creations and assets as NFTs and claim the original owner as long as blockchains exist. Their identities shall always be connected to their tokens.

Five popular celebrities who are into NFTs

Let’s have a look at the top five celebrities who have launched their own NFT collectables. Beg your pardon, but, here we will be mentioning our personal favourites. No hate, please.

Paris Hilton

Miss Hilton has always been an influencer and trendsetter, and she has continued her prowess into the cryptoverse. Along with Blake Kathryn, Hilton created three unique NFT collectables named “ Legend of Love” “Hummingbird in My Metaverse” and “Iconic crypto Queen”. She sold all three of these pieces for over a million dollars. When questioned about her obsession with NFTs, she says it has always been her desire to democratise art and invest in the digital space.

Grimes

Famous musician Grimes has always been the centre of attraction given her obsession with experimental and synth-pop, alien-type cosmetics and extraterrestrial arts. Grimes embraced the NFT’s swayed future and sold 10 pieces of digital arts as NFTs. With 20 minutes of her sale going live, she acquired $6 million. Among all the arts, “Death of the Old” sold for $389,000.

Snoop Dogg

NFTs and DOGG! Yes, west coast rap veteran Snoop Dogg launched his NFT collection “A Journey with the Dogg”. His collection consists of eight different NFTs including the original tracks “Snoop Doge Coins”, “NFT”, “Deez Nuts” and “Diamond Joint”. Dogg has witnessed the potentials of technology and has always been an acceptor of the modern. Snoop is eager to explore the possibilities held by NFT Markets and blockchain technology.

Jack Dorsey

Yes, CEOs pass as celebrities too. Twitter’s CEO sold his first-ever tweet “just setting up my Twitter” as an NFT and it sold for a whopping amount of $ 2.9 million. Noble Dorsey claimed that the proceedings will be converted into bitcoin and will be donated to a poverty charity named GiveDirectly.

Shawn Mendes

Following the success of its Mesut Özil line (grossed over $500,000), musician Shawn Mendes joined OpenSea in cooperation with Genies to offer wearables. From virtual guitars to necklaces, vests, and earrings, these NFTs earned Mendes over $600,000. The singer donated his earnings to Shawn Mendes Foundation Wonder Grants, an NGO helping young activists with their innovative ideas.

Eminem, Ellen DeGeneres, Tony Hawk, Kate Moss; multiple other famous names have happily owned the craze of NFTs. Such appreciation has led to an increase in the development of many NFT Market and Marketplaces all over the world. 

Conclusion

According to the experts, this is just the beginning. Step by step, we are approaching our long-awaited dream of a metaversal reality. We firmly think that humanity’s future lies in turning entirely cashless and that every person, celebrity and commoner alike, should embrace digitalization. In terms of investing, the NFT Market is a goldmine, and we urge you to join this crusade for your own benefit. Create your own NFT Marketplace today and explore the world of endless opportunities. Choose intelligently, choose NFTically.