Is everyone ready to cry into their beer?
Jul. 6th, 2023 03:49 pm![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
thewayneJustin Bieber's Bored Ape NFT has gone from $1,290,000 to $56,000 in apparent value.
It's a good thing he's worth around $300mil or we might have to start a GoFundMe campaign for poor Justin!
You're sad for him, right?
Or like me, rolling on the floor laughing and endlessly amused?
A lot of people have bought into this idiotic NFT craze and lost a lot of money. But here is the question: did Bieber actually drop $1.3 x 10^6 on an NFT?
Asdie from Justin, people like Paris Hilton and other celebs bought into the Bored Ape NFT craze and hyped them to the end of the earth. Conan O'Brien was another celeb "purchaser". It's now being alleged that they did not buy these - that the company was using them as compensated promoters. The problem is that in addition to not paying for the NFTs, they also did not state that these are compensate endorsements!
THAT is something that the Securities and Exchange Commission takes a very dim view of!
Several celebs have been busted for doing compensated endorsements of NFTs and cryptocurrency and not making it plain that they're getting paid for it, and have had to pay some whopping fines. You'd think that they or their agent/people would know better. But apparently they're surrounded by a bunch of stupid and greedy people who like being investigated by the Federal Government.
https://gizmodo.com/justin-bieber-bored-ape-price-collapse-million-dollars-1850606250
It's a good thing he's worth around $300mil or we might have to start a GoFundMe campaign for poor Justin!
You're sad for him, right?
Or like me, rolling on the floor laughing and endlessly amused?
A lot of people have bought into this idiotic NFT craze and lost a lot of money. But here is the question: did Bieber actually drop $1.3 x 10^6 on an NFT?
Asdie from Justin, people like Paris Hilton and other celebs bought into the Bored Ape NFT craze and hyped them to the end of the earth. Conan O'Brien was another celeb "purchaser". It's now being alleged that they did not buy these - that the company was using them as compensated promoters. The problem is that in addition to not paying for the NFTs, they also did not state that these are compensate endorsements!
THAT is something that the Securities and Exchange Commission takes a very dim view of!
Several celebs have been busted for doing compensated endorsements of NFTs and cryptocurrency and not making it plain that they're getting paid for it, and have had to pay some whopping fines. You'd think that they or their agent/people would know better. But apparently they're surrounded by a bunch of stupid and greedy people who like being investigated by the Federal Government.
https://gizmodo.com/justin-bieber-bored-ape-price-collapse-million-dollars-1850606250
no subject
Date: 2023-07-06 11:56 pm (UTC)Make room for me down on the floor LMAO...
For the most part I don't think I would feel sorry for any celebrity involved in any of that stuff. IDIOTS!!!!!!!!!! Looking for a quick buck and more PR for themselves. :o
Hugs, Jon
no subject
Date: 2023-07-07 05:49 am (UTC)I'm thinking of Marcus Rashford a celebrity footballer in the UK. Not a millionaire, but someone who has campaigned for children in poverty to eat. While it also infuriates me that it falls to a footballer to prop up basic needs that the state should be providing automatically, but his input has directly helped children and fuels the debate and pressure for governments (and all of us) to fucking do better!
no subject
Date: 2023-07-07 03:06 pm (UTC)Some celebs have done very well for society and I'm glad to see it. Paul Newman is another that comes to mind. There's this evil mindset that if you don't have enough, then you don't deserve more. And it is genuinely evil. Study after study has shown that by improving the living conditions of the poorest that you improve the society and economy of everyone. But I guess the rich must have someone to look down upon.
no subject
Date: 2023-07-09 05:52 am (UTC)And, hopefully, the places that were stupid enough to not disclose their endorsements get thumped for sufficiently large fines that they choose not to do it again.
no subject
Date: 2023-07-09 06:42 am (UTC)Agreed and agreed.