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


  • English
  • Arabic

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.”

Joker: Folie a Deux

Starring: Joaquin Phoenix, Lady Gaga, Brendan Gleeson

Director: Todd Phillips 

Rating: 2/5

Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

Company%20profile
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20WallyGPT%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2014%3Cbr%3E%3Cstrong%3EFounders%3A%20%3C%2Fstrong%3ESaeid%20and%20Sami%20Hejazi%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%3Cbr%3E%3Cstrong%3EInvestment%20raised%3A%20%3C%2Fstrong%3E%247.1%20million%3Cbr%3E%3Cstrong%3ENumber%20of%20staff%3A%3C%2Fstrong%3E%2020%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3EPre-seed%20round%3C%2Fp%3E%0A
The%20Genius%20of%20Their%20Age
%3Cp%3EAuthor%3A%20S%20Frederick%20Starr%3Cbr%3EPublisher%3A%20Oxford%20University%20Press%3Cbr%3EPages%3A%20290%3Cbr%3EAvailable%3A%20January%2024%3C%2Fp%3E%0A
Gully Boy

Director: Zoya Akhtar
Producer: Excel Entertainment & Tiger Baby
Cast: Ranveer Singh, Alia Bhatt, Kalki Koechlin, Siddhant Chaturvedi​​​​​​​
Rating: 4/5 stars

RACECARD
%3Cp%3E%0D%3Cstrong%3E6pm%3A%3C%2Fstrong%3E%20Abu%20Dhabi%20Land%20Forces%20-%20Maiden%20(TB)%20Dh82%2C500%20(Dirt)%201%2C200m%0D%3Cbr%3E%3Cstrong%3E6.35pm%3A%20%3C%2Fstrong%3EDubai%20Naval%20Forces%20-%20Maiden%20(TB)%20Dh82%2C500%20(D)%201%2C400m%0D%3Cbr%3E%3Cstrong%3E7.10pm%3A%3C%2Fstrong%3E%20Sharjah%20Air%20Force%20-%20Maiden%20(TB)%20Dh82%2C500%20(D)%201%2C200m%0D%3Cbr%3E%3Cstrong%3E7.45pm%3A%20%3C%2Fstrong%3EAjman%20Presidential%20Guard%20-%20Handicap%20(TB)%20Dh95%2C000%20(D)%201%2C200m%0D%3Cbr%3E%3Cstrong%3E8.20pm%3A%3C%2Fstrong%3E%20Dubai%20Creek%20Mile%20%E2%80%93%20Listed%20(TB)%20Dh132%2C500%20(D)%201%2C600m%0D%3Cbr%3E%3Cstrong%3E8.55pm%3A%20%3C%2Fstrong%3EUmm%20Al%20Quwain%20and%20Ras%20Al%20Khaimah%20Joint%20Aviation%20-%20Rated%20Conditions%20(TB)%20Dh95%2C000%20(D)%201%2C600m%0D%3Cbr%3E%3Cstrong%3E9.30pm%3A%3C%2Fstrong%3E%20Fujairah%20National%20Service%20and%20Reserve%20-%20Handicap%20(TB)%20Dh82%2C500%20(D)%201%2C400m%3C%2Fp%3E%0A

Engine: 5.6-litre V8

Transmission: seven-speed automatic

Power: 400hp

Torque: 560Nm

Price: Dh234,000 - Dh329,000

On sale: now

The specs

Engine: 6.2-litre supercharged V8

Power: 712hp at 6,100rpm

Torque: 881Nm at 4,800rpm

Transmission: 8-speed auto

Fuel consumption: 19.6 l/100km

Price: Dh380,000

On sale: now 

BMW M5 specs

Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor

Power: 727hp

Torque: 1,000Nm

Transmission: 8-speed auto

Fuel consumption: 10.6L/100km

On sale: Now

Price: From Dh650,000

Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

German intelligence warnings
  • 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
  • 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
  • 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250 

Source: Federal Office for the Protection of the Constitution

WHY%20AAYAN%20IS%20'PERFECT%20EXAMPLE'
%3Cp%3EDavid%20White%20might%20be%20new%20to%20the%20country%2C%20but%20he%20has%20clearly%20already%20built%20up%20an%20affinity%20with%20the%20place.%3Cbr%3E%3Cbr%3EAfter%20the%20UAE%20shocked%20Pakistan%20in%20the%20semi-final%20of%20the%20Under%2019%20Asia%20Cup%20last%20month%2C%20White%20was%20hugged%20on%20the%20field%20by%20Aayan%20Khan%2C%20the%20team%E2%80%99s%20captain.%3Cbr%3E%3Cbr%3EWhite%20suggests%20that%20was%20more%20a%20sign%20of%20Aayan%E2%80%99s%20amiability%20than%20anything%20else.%20But%20he%20believes%20the%20young%20all-rounder%2C%20who%20was%20part%20of%20the%20winning%20Gulf%20Giants%20team%20last%20year%2C%20is%20just%20the%20sort%20of%20player%20the%20country%20should%20be%20seeking%20to%20produce%20via%20the%20ILT20.%3Cbr%3E%3Cbr%3E%E2%80%9CHe%20is%20a%20delightful%20young%20man%2C%E2%80%9D%20White%20said.%20%E2%80%9CHe%20played%20in%20the%20competition%20last%20year%20at%2017%2C%20and%20look%20at%20his%20development%20from%20there%20till%20now%2C%20and%20where%20he%20is%20representing%20the%20UAE.%3Cbr%3E%3Cbr%3E%E2%80%9CHe%20was%20influential%20in%20the%20U19%20team%20which%20beat%20Pakistan.%20He%20is%20the%20perfect%20example%20of%20what%20we%20are%20all%20trying%20to%20achieve%20here.%3Cbr%3E%3Cbr%3E%E2%80%9CIt%20is%20about%20the%20development%20of%20players%20who%20are%20going%20to%20represent%20the%20UAE%20and%20go%20on%20to%20help%20make%20UAE%20a%20force%20in%20world%20cricket.%E2%80%9D%C2%A0%3C%2Fp%3E%0A
Our legal advisor

Ahmad El Sayed is Senior Associate at Charles Russell Speechlys, a law firm headquartered in London with offices in the UK, Europe, the Middle East and Hong Kong.

Experience: Commercial litigator who has assisted clients with overseas judgments before UAE courts. His specialties are cases related to banking, real estate, shareholder disputes, company liquidations and criminal matters as well as employment related litigation. 

Education: Sagesse University, Beirut, Lebanon, in 2005.

Abu Dhabi GP weekend schedule

Friday

First practice, 1pm 
Second practice, 5pm

Saturday

Final practice, 2pm
Qualifying, 5pm

Sunday

Etihad Airways Abu Dhabi Grand Prix (55 laps), 5.10pm

AIR
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3EBen%20Affleck%3Cbr%3E%3Cbr%3E%3Cstrong%3EStars%3A%20%3C%2Fstrong%3EMatt%20Damon%2C%20Jason%20Bateman%2C%20Ben%20Affleck%2C%20Viola%20Davis%3Cbr%3E%3Cbr%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A
What sanctions would be reimposed?

Under ‘snapback’, measures imposed on Iran by the UN Security Council in six resolutions would be restored, including:

  • An arms embargo
  • A ban on uranium enrichment and reprocessing
  • A ban on launches and other activities with ballistic missiles capable of delivering nuclear weapons, as well as ballistic missile technology transfer and technical assistance
  • A targeted global asset freeze and travel ban on Iranian individuals and entities
  • Authorisation for countries to inspect Iran Air Cargo and Islamic Republic of Iran Shipping Lines cargoes for banned goods
Six large-scale objects on show
  • Concrete wall and windows from the now demolished Robin Hood Gardens housing estate in Poplar
  • The 17th Century Agra Colonnade, from the bathhouse of the fort of Agra in India
  • A stagecloth for The Ballet Russes that is 10m high – the largest Picasso in the world
  • Frank Lloyd Wright’s 1930s Kaufmann Office
  • A full-scale Frankfurt Kitchen designed by Margarete Schütte-Lihotzky, which transformed kitchen design in the 20th century
  • Torrijos Palace dome
The years Ramadan fell in May

1987

1954

1921

1888

FIGHT%20CARD
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Origin
Dan Brown
Doubleday

TERMINAL HIGH ALTITUDE AREA DEFENCE (THAAD)

What is THAAD?

It is considered to be the US's most superior missile defence system.

Production:

It was created in 2008.

Speed:

THAAD missiles can travel at over Mach 8, so fast that it is hypersonic.

Abilities:

THAAD is designed to take out  ballistic missiles as they are on their downward trajectory towards their target, otherwise known as the "terminal phase".

Purpose:

To protect high-value strategic sites, such as airfields or population centres.

Range:

THAAD can target projectiles inside and outside the Earth's atmosphere, at an altitude of 150 kilometres above the Earth's surface.

Creators:

Lockheed Martin was originally granted the contract to develop the system in 1992. Defence company Raytheon sub-contracts to develop other major parts of the system, such as ground-based radar.

UAE and THAAD:

In 2011, the UAE became the first country outside of the US to buy two THAAD missile defence systems. It then stationed them in 2016, becoming the first Gulf country to do so.

TECH%20SPECS%3A%20APPLE%20IPHONE%2014%20PLUS
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Greatest of All Time
Starring: Vijay, Sneha, Prashanth, Prabhu Deva, Mohan
Director: Venkat Prabhu
Rating: 2/5
COMPANY PROFILE
Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
Red flags
  • Promises of high, fixed or 'guaranteed' returns.
  • Unregulated structured products or complex investments often used to bypass traditional safeguards.
  • Lack of clear information, vague language, no access to audited financials.
  • Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
  • Hard-selling tactics - creating urgency, offering 'exclusive' deals.

Courtesy: Carol Glynn, founder of Conscious Finance Coaching

COMPANY%20PROFILE%20
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20Dooda%20Solutions%0D%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Lebanon%0D%3Cbr%3E%3Cstrong%3EFounder%3A%20%3C%2Fstrong%3ENada%20Ghanem%0D%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20AgriTech%0D%3Cbr%3E%3Cstrong%3ETotal%20funding%3A%20%3C%2Fstrong%3E%24300%2C000%20in%20equity-free%20funding%0D%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%2011%3C%2Fp%3E%0A
How the UAE gratuity payment is calculated now

Employees leaving an organisation are entitled to an end-of-service gratuity after completing at least one year of service.

The tenure is calculated on the number of days worked and does not include lengthy leave periods, such as a sabbatical. If you have worked for a company between one and five years, you are paid 21 days of pay based on your final basic salary. After five years, however, you are entitled to 30 days of pay. The total lump sum you receive is based on the duration of your employment.

1. For those who have worked between one and five years, on a basic salary of Dh10,000 (calculation based on 30 days):

a. Dh10,000 ÷ 30 = Dh333.33. Your daily wage is Dh333.33

b. Dh333.33 x 21 = Dh7,000. So 21 days salary equates to Dh7,000 in gratuity entitlement for each year of service. Multiply this figure for every year of service up to five years.

2. For those who have worked more than five years

c. 333.33 x 30 = Dh10,000. So 30 days’ salary is Dh10,000 in gratuity entitlement for each year of service.

Note: The maximum figure cannot exceed two years total salary figure.

Specs
Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
Power: 218hp (Cooper and Aceman), 313hp (Countryman)
Torque: 330Nm (Cooper and Aceman), 494Nm (Countryman)
On sale: Now
Price: From Dh158,000 (Cooper), Dh168,000 (Aceman), Dh190,000 (Countryman)
Updated: February 13, 2022, 5:33 AM`