Celebrity Crypto Craze in 2022: Who Jumped In and Who Jumped Out?

Did you notice more celebrities talking about crypto last year? From sports stars to Hollywood icons, it seemed like everyone was diving into the world of blockchain! 2022 was a wild year for crypto, and celebrities played a huge role in bringing it to the mainstream. Let’s take a look at how these famous faces influenced the crypto space, exploring everything from NFTs and metaverse concerts to their investments and, sometimes, exits.

Why Were Celebrities So Interested in Crypto in 2022?

Crypto was (and still is!) evolving at lightning speed. Celebrities, with their massive social media reach and influence, became key players in boosting the adoption of blockchain projects in 2022. Think about it: a single tweet or Instagram post from a celebrity can introduce millions to a new crypto project. They helped bridge the gap between complex tech and everyday audiences.

Cryptocurrencies, NFTs, and metaverse platforms offered celebrities exciting new avenues:

• New Ways to Connect with Fans: The metaverse and NFTs offered fresh ways for celebrities to interact with their fans directly in the digital world. Imagine meeting your favorite star in a virtual concert!
• New Income Streams: Beyond traditional endorsements, crypto offered celebrities opportunities to launch their own NFT collections, invest in metaverse projects, and even get involved in crypto ventures.
• Being Part of the ‘Next Big Thing’: Blockchain technology felt revolutionary, and celebrities, always keen to be at the forefront of trends, wanted a piece of the action.

NFT Mania: Celebrities and Unique Digital Collectibles

NFTs, or Non-Fungible Tokens, were a huge buzzword in 2022, and celebrities were right in the middle of it. Think of NFTs as digital certificates of ownership for unique items, recorded on the blockchain. Celebrities used them for everything from art and music to exclusive fan experiences.

Music and NFTs: A New Tune?

Musicians started experimenting with NFTs to release exclusive content. For example, the iconic English band Muse dropped a limited edition NFT album with only 1,000 copies. This offered fans a unique and collectible piece of music history.

NFT Collections: Celebrities Creating Digital Art

Many celebrities launched their own NFT collections, often focusing on digital art and collectibles. Floyd Mayweather, for instance, released his “Mayweverse” collection of 5,000 NFTs. Other celebrities not only created their own but also promoted existing NFT projects. Model Jamie Jewitt and boxer Dillian Whyte were among those who promoted the Lucky Block NFT.

Cristiano Ronaldo and Binance: An NFT Football Legend

Sports stars also jumped into the NFT game. Cristiano Ronaldo, the football superstar, partnered with Binance to launch his own NFT marketplace. His NFT collection aimed to immortalize moments from his career on the blockchain, hinting at potentially more collections to come.

Bored Ape Yacht Club: The NFT Club for the Stars?

The Bored Ape Yacht Club (BAYC) NFT collection was *the* status symbol NFT in 2021 and continued its reign in 2022. Celebrities flocked to buy these cartoon ape NFTs, often paying hefty sums for what are essentially unique JPEGs. Neymar Jr., the Brazilian football star, snagged two BAYC NFTs in January 2022. Paris Hilton also joined the BAYC club in the same month.

Selling the Apes: Did the Hype Cool Down?

Interestingly, some celebrities decided to sell their BAYC NFTs in 2022, perhaps signaling a shift in the NFT market or individual investment strategies. American football player Andrew Sendejo sold his BAYC NFT in February 2022, and basketball legend Shaquille O’Neal sold his Mutant Ape a few months later.

Metaverse Mania: Stepping into Virtual Worlds

Remember when Facebook rebranded to Meta in late 2021? That announcement really fueled the hype around the metaverse – the idea of immersive, shared virtual worlds. Metaverse-related cryptocurrencies surged, and celebrities were eager to explore this new digital frontier.

Creating Digital Selves: Celebrity Avatars

As people started spending more time socializing and even working in virtual worlds, celebrities began creating their own digital avatars to represent themselves in the metaverse. This allowed them to engage with fans and participate in virtual events in a new and interactive way.

Celebrity Metaverse Investments: Beyond Avatars

Celebrities weren’t just creating avatars; they were also investing in the metaverse itself. In 2022, Manchester United defender Phil Jones invested in the metaverse, partnering with Antourage to create his own virtual space. David Beckham, another Manchester United icon, became an ambassador for DigitalBits, a blockchain focused on the metaverse.

Kun Agüero’s Kuniverse: A Metaverse for Football Fans

Sergio “Kun” Agüero, the former Manchester City and Argentina football star, took metaverse engagement to another level by creating his own metaverse space called “Kuniverse” with the help of The Sandbox. This virtual world allows fans to meet Agüero, participate in events, and even own special Kuniverse NFTs.

Metaverse Concerts: Music in the Virtual Realm

The metaverse offered a fantastic platform for connecting artists and fans, leading to the rise of metaverse concerts and events in 2022. Imagine attending a concert from the comfort of your home, interacting with other fans and even the artist in a virtual environment!

Taylor Swift and Virtual Concerts

Taylor Swift, a global music superstar, reportedly held metaverse concerts in 2022, allowing her fans to create avatars and experience her performances in a virtual setting alongside fellow Swifties.

Roblox and Fortnite: Gaming Platforms Leading the Way

Gaming platforms like Roblox and Fortnite were already hosting virtual concerts and continued to innovate in this space. Charli XCX, the British pop star, performed a concert on Roblox in June 2022, showcasing the potential of these platforms for virtual music experiences.

Hypetype Metaverse Concerts: A Virtual Music Festival?

The Hypetype Metaverse hosted several concerts featuring artists like BamBam, Dimitri Vegas & Like Mike, and Wolfpack, further demonstrating the growing popularity of metaverse music events.

Crypto Faith in a Bear Market?

Despite the crypto market downturn in 2022, some celebrities continued to show their belief in cryptocurrencies and blockchain technology. Mike Tyson, the boxing legend, remained a vocal supporter, promoting Solana blockchain projects and joining the Solana Foundation.

The Crypto Exits: When Celebrities Stepped Back

However, 2022 also saw some notable celebrity exits from the crypto space, or at least significant reductions in their crypto holdings.

Elon Musk and Tesla’s Bitcoin Sale: A Market Shaker?

Elon Musk, known for his influence on the crypto market, and his company Tesla made headlines when they sold a large portion of their Bitcoin holdings in 2022. Just months after pledging not to sell, Tesla sold 75% of its Bitcoin, citing concerns over company profits and the economic situation in Shanghai.

This move was a stark contrast to 2021 when Musk’s announcements about Tesla investing $1.5 billion in Bitcoin sent the price soaring. His subsequent criticisms of Bitcoin’s energy consumption also contributed to a significant price drop. Tesla’s sale in 2022 highlighted the volatility of the crypto market and how even celebrity actions could have ripple effects.

Anthony Di Iorio: An Ethereum Founder Leaves Crypto

Adding to the sense of change, Anthony Di Iorio, one of the co-founders of Ethereum, announced his departure from the crypto world in 2022. He shifted his focus to “hardware decentralization” through his company Andiami. Di Iorio followed other Ethereum co-founders like Charles Hoskinson, Gavin Wood, and Joseph Lubin who had previously moved on to create their own blockchain projects.

The FTX Fallout: Celebrity Ambassadors in Hot Water

The collapse of the FTX exchange in late 2022 had significant repercussions, including for the celebrities who had acted as ambassadors for the platform. Stephen Curry and Tom Brady were among the high-profile names associated with FTX. Brady and his then-wife Gisele Bündchen had even invested in the exchange.

The list of FTX ambassadors was extensive, including Naomi Osaka, Larry David, Udonis Haslem, David Ortiz, William Trevor Lawrence, Shohei Ohtani, and Kevin O’Leary. FTX’s extensive sports sponsorships meant many top athletes were linked to the exchange, and its downfall raised questions about celebrity endorsements in the crypto space.

Will They Stay or Will They Go? Celebrity Crypto in 2023 and Beyond

While some celebrities might be reconsidering their crypto involvement after the FTX debacle and market fluctuations, others like Kevin O’Leary have publicly stated their continued belief in cryptocurrencies. Stephen Curry still owns a BAYC NFT and has his own NFT collection, suggesting ongoing engagement.

2022 was undoubtedly a year of high celebrity engagement in the crypto world, filled with excitement, innovation, and some cautionary tales. As we move into 2023, it will be fascinating to see which celebrities remain in the crypto space, what new projects they embrace, and how their influence continues to shape the evolving world of blockchain and digital assets. Will 2023 see a new wave of celebrity crypto involvement, or will the lessons of 2022 lead to a more cautious approach? Only time will tell!