A star-studded movement has encouraged women to break into the world of cryptocurrencies and NFTs
Actresses Gwyneth Paltrow, Reese Witherspoon and Mila Kunis brought a new empowerment message to women--- saying it was time to embrace cryptocurrencies.
They are one of the female celebrities who market cryptocurrencies and NFTs to female members, and they talk about the unregulated, unstable crypto market is not a club for boys, they women can also grow in this market. They called on women to do research and enter the field.
Reese Witherspoon
"We've seen a lot of these male members get together and make a lot of money," Ms. Partrow, an actress and founder of lifestyle brand Goop, recently told 5,000 online viewers at an event at BFF. (BFF is a cryptocurrency social community for women and non-binary groups)
Gwyneth Paltrow
BFF was launched this year by Brit Morin, an entrepreneur at digital media company Brit+ Co, and Jaime Schmidt, who founded Schmidt's Naturals, a natural personal care company. Ms Morin said some celebrity members, including model and entrepreneur Tyra Banks and fashion designer Rebecca Minkoff.
Mila Kunis
Women generally lag behind men in investing, and cryptocurrency exchanges say women currently make up less than a third of their users. Last year, the total asset value of cryptocurrencies soared from $260 billion in 2020 to more than $2 trillion, making it a high-growth market as well as a high-volatility market, with bitcoin's price hitting an all-time high of $68,991 in November. At 10 a.m. on Friday, it traded at $39,293.
Some fans questioned the celebrities' start selling unverified financial products, and it was simply unclear whether celebrities' posts about cryptocurrency products on social media were pure enthusiasm or paid publicity.
Ms. Paltrow, Ms. Witherspoon and Ms. Kunis, who are not currently paid endorsers of any cryptocurrency brand, said ms. Witherspoon and Ms. Kunis both have businesses involving non-financial enterprises, and Thaterspoon did a bitcoin promotion for digital payment service Cash App last year.
Megan Thee Stallion
For some celebrity entrepreneurs, cryptocurrencies represent a new way to build their brand and have the potential to make money from the loyalty of their fans and be packaged in the language of female empowerment.
With cryptocurrencies, they say, women can correct gender imbalances in investment and shape the next chapter of the internet, an area where the rules are written primarily by men. More broadly, they are running a campaign for women to help build a new, digitally-based decentralized internet, often referred to as web3.
Last year, hip-hop star Megan Thee Stallion posted a video of "Bitcoin for Hotties" on social media explaining how cryptocurrencies work as part of a series of general investment-themed ads she did as a paid spokesperson for The Cash App Company. In the cryptocurrency video, she encouraged members of her audience to do relevant research and noted. "With my knowledge and your diligence, you will soon have your own empire of money."
Randi Zuckerberg, sister of Meta corp. Mark Zuckerberg and brand consultant at cryptocurrency exchange OkCoin, spoke on her YouTube channel about 101 tips for cryptocurrency investing and tweeted that she wanted to make the digital currency community "interesting." In recent weeks, she has posted videos of herself singing cryptocurrency-inspired lyrics to popular songs such as Adele's "Hello" and Twisted Sister's "We're Not Gonna Take It."
Zuckerberg's sister owns nearly 200 NFTs, almost all from women-led projects, and according to one representative, Zuckerberg's sister has business relationships with several cryptocurrency and NFT companies.
Hollywood brokers say they are discussing cryptocurrencies with their clients. At WME, a top artist agency representing A-level stars, brokers have sought out or reached out to more than 100 clients in an effort to develop strategies on how to expand their brand in a future world built on the foundation of the cryptocurrency economy. To make money, celebrities can put their shares in cryptocurrency, issue their own works on the digital marketplace, or get paid through endorsements.
"A lot of our talent really believes that web3 is the future — if you want to get involved in this space, you need a long-term strategy," said Kate Lonczak, an agent in the company's digital strategy group.
Paris Hilton, who said she began investing in cryptocurrencies in 2016, described people in Hollywood and the entertainment world seeking guidance from her, calling her the "queen of cryptocurrencies, and looking for tips to get into the field. "They're just asking for advice," she said in an interview. "'How can I get into this field?' What is it? "
Ms. Hilton sells her own NFTs and has invested in cryptocurrency projects, but she is not a paid representative for any cryptocurrency brand, a spokesperson said.
SEC Chairman Gary Gensler described the cryptocurrency market as a wild west for investment, saying the asset class is rife with "scams, fraud and abuse" and needs more investor protection. This week, the White House issued an executive order directing some federal agencies to review issues surrounding digital currencies.
The SEC has long warned against investment pitches from celebrities, including those focused on cryptocurrencies. The agency said in 2017 that celebrities who touted ICO deals could violate the law if they didn't disclose information about their involvement.
"It's just to encourage women to take small risks, explore and get educated, and get there, try and engage," Ms Kunis, who is known for the film Black Swan, said in an interview.
Ms. Witherspoon and Ms. Kunis are some influential Hollywood figures who have launched a number of projects around NFTs. Others who expressed support for NFTs include actress Eva Longoria, who asked her Twitter followers for advice on which NFTs to buy next.
She wrote: "Looking for a female-led project! "。
Ms. Witherspoon's company, Hello Sunshine, recently announced a partnership with the Women's World (WOW) NFT to create film and television content around its characters.
"We're not touting cryptocurrency trading at all, we're talking about elevating the status of female artists and creators," she said. ”
In some cases, it can be difficult to determine whether celebrities have profited from posting messages on social media platforms. TikTok big star Charli D'Amelio and her family thanked cryptocurrency exchange Gemini for her birthday present on Instagram last year.
These cryptocurrency enthusiasts say they just don't want women to miss out on this revolution.