From left: Paris Hilton, Matt Damon and Reese Witherspoon have all thrown their weight behind promoting and selling cryptocurrencies and NFTs. Reuters, AFP and AP
From left: Paris Hilton, Matt Damon and Reese Witherspoon have all thrown their weight behind promoting and selling cryptocurrencies and NFTs. Reuters, AFP and AP
From left: Paris Hilton, Matt Damon and Reese Witherspoon have all thrown their weight behind promoting and selling cryptocurrencies and NFTs. Reuters, AFP and AP
From left: Paris Hilton, Matt Damon and Reese Witherspoon have all thrown their weight behind promoting and selling cryptocurrencies and NFTs. Reuters, AFP and AP

Celebrities and NFTs: why your favourite stars are trying to sell you cryptocurrency


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Maybe you noticed it on your morning scroll through social media.

Or, maybe you didn’t, because some of it is subtle, while some is applied like a sledgehammer to your news feed.

But there, among the selfies and hashtags and exhortations to see their movies and buy their latest protein shake/shapewear line/coffee maker, celebrities have been ramping up their rhetoric to persuade us “mere mortals” (more on that later) to jump on the NFT and cryptocurrency bandwagon.

Captain Marvel disappoints the internet

Celebrities have been sharing their NFTs for a while now. But it took a tweet from Captain Marvel star Brie Larson to really irk the Twitterverse.

Twitter is the platform where most NFT chatter takes place, because it supports NFTs being used in profile pictures for subscribers to their Twitter Blue service.

Long considered one of Hollywood’s most down-to-earth stars, and an outspoken advocate of issues affecting women, the actress’s tweet, “#NewProfilePic – got a @FlowerGirlsNFT by @VarvaraAlay”, sparked a storm of criticism in her comments, from accusations she was promoting a “Ponzi scheme” to concerns about the environmental impact of NFTs.

Larson’s post followed a recent episode of The Tonight Show in which the host Jimmy Fallon and guest Paris Hilton showed off their recent Bored Ape NFT purchases created by the secretive collective known as Bored Ape Yacht Club.

The 77 second-long segment, a glaring non sequitur that followed a conversation about Hilton’s recent wedding, was described as “cringe”, “embarrassing” and “unbearable” as Fallon declared: “We’re part of the same community. We’re both Apes.”

Which celebrities are pushing NFTs?

Along with Fallon and Hilton, the likes of Gwyneth Paltrow, Justin Bieber and YouTuber-turned-boxer Logan Paul have all gone public with their Bored Ape NFTs.

Back in January, Paltrow changed her Twitter profile picture to her NFT, writing: “Joined BoredApeYC ready for the reveal? Thanks @moonpay concierge.”

Two stars have emerged as the loudest voices in cryptocurrency (the majority of NFTs are part of the Ethereum blockchain, and Ethereum is a cryptocurrency), and they also happen to be two of the biggest celebrities on the planet.

Actress and producer Reese Witherspoon, who last year sold her media company Hello Sunshine for $900 million, has been positioning herself as something of a cryptocurrency mouthpiece. She alternates between the vaguely scare tactic-sounding “In the (near) future, every person will have a parallel digital identity. Avatars, crypto wallets, digital goods will be the norm. Are you planning for this?” And the feminist rhetoric of: “Crypto is here to stay. I’m committed to supporting creators who have pioneered the NFT space, and encouraging more women to be a part of the conversation.”

The other celebrity is Matt Damon, a fellow Oscar winner, whose advert for Crypto.com – “The world’s fastest-growing crypto app” – likened crypto investors to aviation pioneers the Wright brothers.

In his advert for the company, Damon drew the internet’s ire for the line: “These mere mortals, just like you and me”, which led him to be parodied on South Park.

Why are celebrities so involved in NFTs?

As with everything in Hollywood, there’s an interconnectedness happening behind the scenes that isn’t apparent to the average fan.

It would take a deep dive and industry-level knowledge of the intricacies of Tinseltown to pull on the NFT/celebrity thread and follow it back to its origins.

In a Substack article by Max Read, the writer points out the links between the stars who are showing off their NFTs, and the powerful agencies that represent them.

“If you pay attention to both the Hollywood trades and the crypto press… you can begin to pick out the contours of an expanding, interconnected, celebrity-based web3 financial-cultural complex,” Read writes. “Did you know, for example, that Jimmy Fallon is represented by CAA, which is an investor in the NFT marketplace OpenSea? And which recently signed a deal to represent the NFT collector 0xb1, who owns NFTs from Bored Ape Yacht Club and World of Women?”

It's common knowledge that Witherspoon is married to Jim Toth, who was once one of CAA’s most powerful agents.

US journalist Malcolm Harris has dubbed the correlation an “NFT Keiretsu”. Keiretsu is a Japanese term which refers to a group of companies with interconnected business relationships and shareholdings.

Voices of dissent

Former 'The OC' actor Ben McKenzie has spoken out against NFTs and cryptocurrency, while rapper Kayne West has said he won't participate, for now. AFP
Former 'The OC' actor Ben McKenzie has spoken out against NFTs and cryptocurrency, while rapper Kayne West has said he won't participate, for now. AFP

Amid all the celebrity NFT chatter, one actor has emerged as a critical opponent. Former The OC actor Ben McKenzie, who more recently played James Gordon in Gotham, has been a vociferous voice against cryptocurrency.

“I’m just a former teen idol standing here (alone?) asking people to consider downside risk and the possibility of fraud,” he tweeted. “I hope I’m wrong, but pretty sure we’ll find out soon enough. Good luck folks – don’t take financial advice from celebs, including me.”

Celebrities who have created their own NFTs include Paris Hilton, Lindsay Lohan, Grimes and Emily Ratajkowski, who sold a photo of herself titled “Buying Myself Back: A Model for Redistribution”.

“There’s a lot of dough to be had in our attention-driven economy – if you’re appropriately famous and shameless,” McKenzie wrote in a co-authored column for Slate. “With the advent of cryptocurrency, there are whole new terrains of one’s life that can be monetised for potentially worthless digital tokens.

"But look beneath the froth – past the $500,000 Bored Ape Yacht Club NFTs and the metaverse parties (supposedly a thing!) – and it gets grim quickly. Every influencer and celebrity (except, maybe, the co-author of this column) seems intent on getting their little piece of the crypto boom.”

McKenzie has an unlikely ally in the opposition space he currently occupies. Rapper Kanye West, who recently took to Instagram to write: “My focus is on building real products in the real world. Real food, real clothes, real shelter. Do not ask me to do a [expletive] NFT.”

But Ye being Ye, there was, of course, a caveat: “Ask me later.”

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How to keep control of your emotions

If your investment decisions are being dictated by emotions such as fear, greed, hope, frustration and boredom, it is time for a rethink, Chris Beauchamp, chief market analyst at online trading platform IG, says.

Greed

Greedy investors trade beyond their means, open more positions than usual or hold on to positions too long to chase an even greater gain. “All too often, they incur a heavy loss and may even wipe out the profit already made.

Tip: Ignore the short-term hype, noise and froth and invest for the long-term plan, based on sound fundamentals.

Fear

The risk of making a loss can cloud decision-making. “This can cause you to close out a position too early, or miss out on a profit by being too afraid to open a trade,” he says.

Tip: Start with a plan, and stick to it. For added security, consider placing stops to reduce any losses and limits to lock in profits.

Hope

While all traders need hope to start trading, excessive optimism can backfire. Too many traders hold on to a losing trade because they believe that it will reverse its trend and become profitable.

Tip: Set realistic goals. Be happy with what you have earned, rather than frustrated by what you could have earned.

Frustration

Traders can get annoyed when the markets have behaved in unexpected ways and generates losses or fails to deliver anticipated gains.

Tip: Accept in advance that asset price movements are completely unpredictable and you will suffer losses at some point. These can be managed, say, by attaching stops and limits to your trades.

Boredom

Too many investors buy and sell because they want something to do. They are trading as entertainment, rather than in the hope of making money. As well as making bad decisions, the extra dealing charges eat into returns.

Tip: Open an online demo account and get your thrills without risking real money.

If you go

The flights
Emirates and Etihad fly direct to Nairobi, with fares starting from Dh1,695. The resort can be reached from Nairobi via a 35-minute flight from Wilson Airport or Jomo Kenyatta International Airport, or by road, which takes at least three hours.

The rooms
Rooms at Fairmont Mount Kenya range from Dh1,870 per night for a deluxe room to Dh11,000 per night for the William Holden Cottage.

Formula%204%20Italian%20Championship%202023%20calendar
%3Cp%3EApril%2021-23%3A%20Imola%3Cbr%3EMay%205-7%3A%20Misano%3Cbr%3EMay%2026-28%3A%20SPA-Francorchamps%3Cbr%3EJune%2023-25%3A%20Monza%3Cbr%3EJuly%2021-23%3A%20Paul%20Ricard%3Cbr%3ESept%2029-Oct%201%3A%20Mugello%3Cbr%3EOct%2013-15%3A%20Vallelunga%3C%2Fp%3E%0A
Paatal Lok season two

Directors: Avinash Arun, Prosit Roy 

Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong

Rating: 4.5/5

GAC GS8 Specs

Engine: 2.0-litre 4cyl turbo

Power: 248hp at 5,200rpm

Torque: 400Nm at 1,750-4,000rpm

Transmission: 8-speed auto

Fuel consumption: 9.1L/100km

On sale: Now

Price: From Dh149,900

The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE. 

Read part four: an affection for classic cars lives on

Read part three: the age of the electric vehicle begins

Read part two: how climate change drove the race for an alternative 

In numbers: China in Dubai

The number of Chinese people living in Dubai: An estimated 200,000

Number of Chinese people in International City: Almost 50,000

Daily visitors to Dragon Mart in 2018/19: 120,000

Daily visitors to Dragon Mart in 2010: 20,000

Percentage increase in visitors in eight years: 500 per cent

Dubai works towards better air quality by 2021

Dubai is on a mission to record good air quality for 90 per cent of the year – up from 86 per cent annually today – by 2021.

The municipality plans to have seven mobile air-monitoring stations by 2020 to capture more accurate data in hourly and daily trends of pollution.

These will be on the Palm Jumeirah, Al Qusais, Muhaisnah, Rashidiyah, Al Wasl, Al Quoz and Dubai Investment Park.

“It will allow real-time responding for emergency cases,” said Khaldoon Al Daraji, first environment safety officer at the municipality.

“We’re in a good position except for the cases that are out of our hands, such as sandstorms.

“Sandstorms are our main concern because the UAE is just a receiver.

“The hotspots are Iran, Saudi Arabia and southern Iraq, but we’re working hard with the region to reduce the cycle of sandstorm generation.”

Mr Al Daraji said monitoring as it stood covered 47 per cent of Dubai.

There are 12 fixed stations in the emirate, but Dubai also receives information from monitors belonging to other entities.

“There are 25 stations in total,” Mr Al Daraji said.

“We added new technology and equipment used for the first time for the detection of heavy metals.

“A hundred parameters can be detected but we want to expand it to make sure that the data captured can allow a baseline study in some areas to ensure they are well positioned.”

Greatest Royal Rumble match listing

50-man Royal Rumble - names entered so far include Braun Strowman, Daniel Bryan, Kurt Angle, Big Show, Kane, Chris Jericho, The New Day and Elias

Universal Championship Brock Lesnar (champion) v Roman Reigns in a steel cage match

WWE World Heavyweight ChampionshipAJ Styles (champion) v Shinsuke Nakamura

Intercontinental Championship Seth Rollins (champion) v The Miz v Finn Balor v Samoa Joe

United States Championship Jeff Hardy (champion) v Jinder Mahal

SmackDown Tag Team Championship The Bludgeon Brothers (champions) v The Usos

Raw Tag Team Championship (currently vacant) Cesaro and Sheamus v Matt Hardy and Bray Wyatt

Casket match The Undertaker v Rusev

Singles match John Cena v Triple H

Cruiserweight Championship Cedric Alexander v Kalisto

RESULTS

5pm: Maiden (PA) Dh80,000 2,200m
Winner: Arjan, Fabrice Veron (jockey), Eric Lemartinel (trainer).

5.30pm: Maiden (PA) Dh80,000 1,400m​​​​​​​
Winner: Jap Nazaa, Royston Ffrench, Irfan Ellahi.

6pm: Al Ruwais Group 3 (PA) Dh300,000 1,200m​​​​​​​
Winner: RB Lam Tara, Fabrice Veron, Eric Lemartinal.

6.30pm: Shadwell Gold Cup Prestige Dh125,000 1,600m​​​​​​​
Winner: AF Sanad, Bernardo Pinheiro, Khalifa Al Neyadi.

7pm: Shadwell Farm Stallions Handicap (PA) Dh70,000 1,600m​​​​​​​
Winner: Jawal Al Reef, Patrick Cosgrave, Abdallah Al Hammadi.

7.30pm: Maiden (TB) Dh80,000 1,600m​​​​​​​
Winner: Dubai Canal, Harry Bentley, Satish Seemar.

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DC%20League%20of%20Super-Pets
%3Cp%3EDirector%3A%20Jared%20Stern%3C%2Fp%3E%0A%3Cp%3EStarring%3A%20Dwayne%20Johnson%2C%20Kevin%20Hart%2C%20John%20Krasinski%2C%20Keanu%20Reeves%2C%20Olivia%20Wilde%2C%20Kate%20McKinnon%2C%20Jameela%20Jamil%3C%2Fp%3E%0A%3Cp%3ERating%3A%203%2F5%3C%2Fp%3E%0A
What can you do?

Document everything immediately; including dates, times, locations and witnesses

Seek professional advice from a legal expert

You can report an incident to HR or an immediate supervisor

You can use the Ministry of Human Resources and Emiratisation’s dedicated hotline

In criminal cases, you can contact the police for additional support

Results

2.15pm: Maiden (PA) Dh40,000 1,700m; Winner: AF Arrab, Antonio Fresu (jockey), Ernst Oertel (trainer).

2.45pm: Maiden (PA) Dh40,000 1,700m; Winner: AF Mahaleel, Antonio Fresu, Ernst Oertel.

3.15pm: Sheikh Ahmed bin Rashid Al Maktoum handicap (TB) Dh200,000 2,000m; Winner: Dolmen, Richard Mullen, Satish Seemar.

3.45pm: Handicap (PA) Dh40,000 1,200m; Winner: Amang Alawda, Sandro Paiva, Bakhit Al Ketbi.

4.15pm: The Crown Prince of Sharjah Cup Prestige (PA) Dh200,000 1,200m; Winner: AF Alwajel, Tadhg O’Shea, Ernst Oertel.

4.45pm: Handicap (PA) Dh40,000 2,000m; Winner: Al Jazi, Jesus Rosales, Eric Lemartinel.

Springsteen: Deliver Me from Nowhere

Director: Scott Cooper

Starring: Jeremy Allen White, Odessa Young, Jeremy Strong

Rating: 4/5

Other acts on the Jazz Garden bill

Sharrie Williams
The American singer is hugely respected in blues circles due to her passionate vocals and songwriting. Born and raised in Michigan, Williams began recording and touring as a teenage gospel singer. Her career took off with the blues band The Wiseguys. Such was the acclaim of their live shows that they toured throughout Europe and in Africa. As a solo artist, Williams has also collaborated with the likes of the late Dizzy Gillespie, Van Morrison and Mavis Staples.
Lin Rountree
An accomplished smooth jazz artist who blends his chilled approach with R‘n’B. Trained at the Duke Ellington School of the Arts in Washington, DC, Rountree formed his own band in 2004. He has also recorded with the likes of Kem, Dwele and Conya Doss. He comes to Dubai on the back of his new single Pass The Groove, from his forthcoming 2018 album Stronger Still, which may follow his five previous solo albums in cracking the top 10 of the US jazz charts.
Anita Williams
Dubai-based singer Anita Williams will open the night with a set of covers and swing, jazz and blues standards that made her an in-demand singer across the emirate. The Irish singer has been performing in Dubai since 2008 at venues such as MusicHall and Voda Bar. Her Jazz Garden appearance is career highlight as she will use the event to perform the original song Big Blue Eyes, the single from her debut solo album, due for release soon.

MO
%3Cp%3E%3Cstrong%3ECreators%3A%20%3C%2Fstrong%3EMohammed%20Amer%2C%20Ramy%20Youssef%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%20%3C%2Fstrong%3EMohammed%20Amer%2C%20Teresa%20Ruiz%2C%20Omar%20Elba%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A
UAE v Ireland

1st ODI, UAE win by 6 wickets

2nd ODI, January 12

3rd ODI, January 14

4th ODI, January 16

How to vote

Canadians living in the UAE can register to vote online and be added to the International Register of Electors.

They'll then be sent a special ballot voting kit by mail either to their address, the Consulate General of Canada to the UAE in Dubai or The Embassy of Canada in Abu Dhabi

Registered voters mark the ballot with their choice and must send it back by 6pm Eastern time on October 21 (2am next Friday) 

First Person
Richard Flanagan
Chatto & Windus 

How to help

Send “thenational” to the following numbers or call the hotline on: 0502955999
2289 – Dh10
2252 – Dh 50
6025 – Dh20
6027 – Dh 100
6026 – Dh 200

MATCH INFO

Uefa Champions League semi-finals, first leg
Liverpool v Roma

When: April 24, 10.45pm kick-off (UAE)
Where: Anfield, Liverpool
Live: BeIN Sports HD
Second leg: May 2, Stadio Olimpico, Rome

Updated: February 13, 2022, 5:33 AM