Since the NFT boom of 2021, mainstream celebrities have dipped their toes into the world of Web3 and crypto, with some maintaining their holdings while others have moved on to different ventures.
Top Celebrities with Crypto Holdings:
According to data from Arkham Intelligence, the top five celebrities on Elon Musk’s X platform with crypto holdings primarily hold Ether (ETH) or NFTs.
1. Donald Trump: The former U.S. President and Republican candidate leads the pack with a digital asset net worth of $7 million. Trump’s largest holding is $5.1 million in proceeds from his NFT collection titled TRUMP. He has hinted at accepting crypto donations for his campaign.
2. Justin Bieber: The pop star comes in second with $451,000 in blockchain assets, mostly in ETH. Bieber’s last activity in the crypto space was two years ago when he engaged with Yuga Labs’ Otherside project on OpenSea.
3. Neymar, Jimmy Fallon, and Kevin Hart: Soccer star Neymar and comedians Jimmy Fallon and Kevin Hart hold crypto net worths of $56,000, $113,000, and $40,000, respectively.
NFT Trends and Celebrity Purchases:
During the NFT craze, celebrities like Bieber and Fallon made headlines for purchasing high-value collectibles like the Bored Ape Yacht Club. This trend also boosted platforms like MoonPay, catering to popular figures interested in digital collectibles.
Current State of NFT Markets:
However, three years later, NFT markets have cooled off significantly, with over 95% of collections now considered worthless. Regulators like the SEC have cracked down on creators, and projects like Dapper Labs and Ashton Kutcher’s Stoner Cats have faced lawsuits for allegedly selling unregistered securities.
Conclusion:
While some celebrities continue to hold onto their crypto assets, the NFT market has undergone significant changes since its peak in 2021. As regulations tighten and market dynamics evolve, the future of celebrity involvement in crypto remains uncertain.
