The Wild World of Celebrity NFTs

Ah, the glamorous life of A-list celebrities diving into the digital pond of nonfungible tokens (NFTs). Back in the glorious boom of 2021 and 2022, these stars jumped on the NFT train faster than we could say ‘blockchain.’ However, not all that glitters is gold—or in this case, not all pixel art sells for millions. Celebrities promoting unvetted projects has become a trend, and it seems like 2023 is only heating up that messy pot of scams.

When Dillon Danis Met a Scam

In a recent hilariously unfortunate event, MMA fighter Dillon Danis fell victim to a practical joke that cost him a couple of followers—and a few brain cells, perhaps. He was paid a casual $1,000 to promote an NFT project that, according to Coffeezilla, literally screamed “S.C.A.M.” (Talk about a bad branding decision!) Danis tweeted out a link to the website that had been freshly baked just two days prior. A rookie mistake in the digital realm.

Red Flags to Watch For

So, what can we learn here? For starters, always check the credibility of the projects you’re about to jump into. Everyone loves a shiny new website, but a good rule of thumb is that if it seems too good to be true—well, you know the saying. If the FAQ mentions that no one gets to mint the NFTs, maybe it’s a good time to hit that back button quickly!

Lessons from Kim Kardashian

Oh, Kim Kardashian—she’s been here too. Back in June 2021, she faced the SEC’s wrath over her promotion of EthereumMax (EMAX). The influencer life is glamorous, but the consequences of forgetting little things like ‘disclosure’ can be catastrophic. She was fined for not mentioning a measly $250K she pocketed for the promotion. Remember folks, transparency isn’t just a buzzword; it’s a legal requirement (Taking notes yet, Dillon?).

Protecting the Public

In the aftermath of the Danis debacle, Coffeezilla made sure the public was informed. Users clicking the seemingly harmless “Mint Sourz” button ended up at a cautionary warnings page about scams. A shining example that misinformation will not reign supreme on Coffeezilla’s watch.

The Little Shapes Experiment

Let’s take a detour into the world of NFTs that are, uh, educational? Enter: Little Shapes NFT. This ‘social experiment,’ according to its secretive founder Atto, exposed a massive bot-driven scam that bled over $200 million from unsuspecting people. Imagine telling your friends you’ve invested in an avatar-style project, only to find out it was designed to reveal that you’ve been bamboozled! Talk about a plot twist.