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The internet has a memory, especially for past “evils” done. It’s not easy for a project to succeed just by relying on endorsements from celebrities, and celebrities can’t simply shout endorsements for money without any limits. Reputation is important, and celebrities who value their feathers will gain long-lasting respect, while those who deceive their fans will be tarnished. Celebrities are like this, and so are crypto projects.
Since 2017, some celebrities have been endorsing and promoting scam coins. Here are the top 7 celebrity rug events in history:
1. Davido (Famous American singer)
In 2021, he endorsed RapDoge and sold $300,000 worth of it to his fans.
Davido did the same thing with 6 other project tokens, including one he recently launched.
2. Adin (Well-known game streamer)
In the crypto bull market of 2021, influential people revealed their true colors. Adin received $186 as compensation for promoting a token during a live stream.
But soon after, he said it was a scam…
3. Lindsay Lohan (American actress, singer)
Back in 2021, she promoted several tokens, including DaughterDoge and MetaNetflix. Both turned out to be rugs.
She also endorsed Canine Cartel NFT, which eventually went to zero.
4. Floyd Mayweather (Famous former professional boxer)
2017: Centra ICO
2021: EMAX coin
2022: Bored Bunny NFT, Floyd Mayweather NFT, Floyd’s World, Bored Bad Bunny (all went to zero)
Interesting anecdote: SEC sued him in 2018, and he paid a $614 fine but continued promoting projects.
5. Shaquille O’Neal (Former NBA superstar)
If you’re an OG in the field, you’ve definitely heard of Astrals on SOL. Shaq co-founded the Solana NFT series “Astrals.”
But when FTX collapsed, he abandoned the project. Users were quite angry, and he was sued in September 2023.
6. Lil Uzi Vert (Real name Symere Bysil Woods, American rapper)
During Solana Summer 2021, Lil Uzi Vert decided to be the ambassador for the Eternal Beings series.
After the announcement, he quickly deleted the post, and the project eventually fell into trouble.
7. Rich the Kid (Real name Dimitri Leslie Roger, American rapper)
He co-founded a series of NFTs named after him and endorsed them. They raised a total of about $2 million and then disappeared.
