Paris Hilton Joins the Cryptocurrency Train – What Does this Mean for Cryptos?

Celebrity Paris Hilton on Sunday took to twitter stating that she was “looking forward to participating in the new LydianCoin – a platform that wants to combine the blockchain with “targeted, AI driven digital marketing and advertising services.”

The LydianCoin project is known to be run by tech-based advertising company Gravity4 where Gubaksh Chalal is Chief Executive. As indicated in their Whitepaper, the project is aiming at raising $100 Million through its token sale event.

Paris Hilton is not the first celebrity to have shown interest in a blockchain enterprise. In recent times, other celebrities such as retired American boxing champion Floyd Mayweather, Uruguayan and Barcelona football star Luiz Suarez amongst other celebrities and high-profile personalities have begun venturing into blockchain and cryptocurrency projects.

Floyd Mayweather got involved with the STOX project in August on it went on to raise $30 Million.

He then returned to back another blockchain venture Hubii Network for its fundraiser. He wrote both on his Twitter and Instagram “You can call me Floyd Crypto Mayweather from now on.”

 

Recent celebrity endorsements of crypto-projects come on the backs of realization that blockchain technology has come to stay and offers immense value to individuals, societies and industries. And despite the initial misgivings many had about the space, it is becoming increasingly clear that despite some “questionable” cryptocurrency projects, the crypto-space is to a larger extent credible and will be mainstream in the not-too-distant future as the technology and its processes are continually improved and simplified for the larger global populace to understand it.

According to estimates, initial coin offerings on blockchain have so far raised more money than established venture capital early-stage funding this year. There is however concerns in certain quarters that this might be a bubble with some regulators warning people to beware of scam projects and they are also making efforts to enact regulations that will seek to govern the space.

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