Non-fungible tokens, more commonly known as NFTs, and cryptocurrency are still making waves for all the wrong reasons – scams, cons, and phishes are giving these digitally-driven technologies a bad reputation.
However, celebrities are getting into hot digital water because they are either promoting NFTs or cryptocurrencies that are not necessarily legit or do not deliver what they promise., an initiative promoted by influencers as being the ultimate vehicle for saving children in need while still making its investors money.
According to research, scammers wandered off with around $14 billion in cryptocurrency in 2021, and this is very likely to continue considering how profitable this market is.highlighted three of the biggest scams – CSGOLotto, a scam that saw two influencers charged; Centra Tech, a false project that used influencers to trick people out of millions and put another two celebrities – DJ Khaled and Floyd Mayweather – under the microscope, and pump-and-dump schemes using NFTs.
The case is still ongoing so the outcome remains uncertain, but one thing is certain – this is not a safe space for people’s money to play and we cannot trust influencer marketing.“There’s also been a rise in virtual influencers, robots that are replacing human beings as the trendsetters on social media,” says Collard.
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Source: TheSAnews - 🏆 25. / 59 Read more »