NFTs, Celebrities And Perverse Deal-Making

The Non-Fungible Tokens more popularly called NFTs are being endorsed by a lot of celebrities these days. Thanks to these endorsements, NFTs are getting popular and the companies dealing in NFTs and NFTs related services are getting richer. While the celebrities clam they are genuinely interested in NFTs but the question is, are these celebrities really into NFTs?

Celebrities
Celebrities And Perverse Deal-Making

The Question

You might be wondering why we are asking this question? Well, all because of a video clip of the latest episode of the show called “The Tonight Show Starring Jimmy Fallon”. In the video, Paris Hilton who was formerly a socialite and now works as a crypto promotor, is seen boasting about her new NFT that she recently brought from the NFT dealing company named MoonPay.

The way she describes the NFT in a cold and emotionless manner gives the simple impression of she loathes her new NFT. Then why the praise for it at all. The praise may only be because maybe MoonPay and Hilton have stuck a deal under which she has to buy and endorse their NFTs.

Here now, blaming Hilton would be wrong.

Throughout history, celebrities have been used by companies like MoonPay to endorse their products, even if the product is simply bad. The celebrities are really just doing a job here. It is totally fine but the use of celebrities by companies like MoonPay in this manner wherein the celebrity is totally not happy is not acceptable at all. The video clip has people saying that the use of celebrities to promote NFTs is all a big conspiracy theory.

People are saying that the general public idolizes celebrities and do whatever they are doing. By making them buy and endorse NFTs, the companies are prompting the general public to make investments in the NFTs.

People are saying that the investments in NFTs do not benefit the general public at large but helps the companies selling NFTs. What’s your take on all of this?

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