Celebrities launching cryptocurrency tokens has been a discussion that has captivated the cryptocurrency community for years. There has been much speculation on the first celebrity to launch a cryptocurrency token.
However, what many do not realize is that celebrities have already launched cryptocurrency tokens. Now, these tokens are not very serious tokens, but they are technically a cryptocurrency token so it does count. But to say with the spirit of a cryptocurrency token we will focus on the first celebrity to launch a real cryptocurrency that solves a problem.
Manny Pacquaio Launched a Cryptocurrency
As mentioned earlier, celebrities have launched cryptocurrencies in the past. The most notable example is Manny Pacquiao.
The difference is that Pacquiao’s cryptocurrency isn’t really a cryptocurrency. It’s more of a gift voucher program that allows fans to purchase merchandise and other Manny Pacquiao related services such as a conversation with the boxer.
Is it technically a cryptocurrency?
Yes, but it is not really the spirit of a cryptocurrency project like Bitcoin or Ethereum. This article will focus more on those tokens rather than the quick money grabs that celebrities launch, via licensing deals, on the blockchain to gather a bit more publicity and avoid some regulatory issues.
What Celebrity is Most Likely to Launch a Cryptocurrency?
This list will focus on celebrities most likely to launch a cryptocurrency – a real cryptocurrency that actually solves a problem and isn’t a cash grab. It should be obvious, but most of these celebrities come from a technology/startup background.
This shouldn’t be too surprising because these celebrities made a name for themselves launching cutting edge technology in the Dot Com Era or with social media. And cryptocurrency/blockchain technology is cutting edge technology a mere 25 years after the Dot Com startup era.
The most obvious choice for a celebrity to launch a cryptocurrency is Elon Musk. He has recently been talking about the benefits of Dogecoin, of all cryptocurrencies, on Twitter. Not to mention that he has recently become a bigger supporter of Bitcoin.
The tech mogul already owns multiple billion dollar corporations, so time management would not be a factor. He even started a company to build underground roads, The Boring Company, because he did not like waiting in traffic.
The man finds problems and sets out to solve them.
It gets even stranger than that.
Many people have speculated that the identity of the founder of Bitcoin, Satoshi Nakamoto, is Elon Musk.
Sounds strange, right?
Sure, but the identity of Nakamoto has never been revealed and launching Bitcoin does seem like something the eccentric tech founder would do.
We already Elon Musk likes to launch companies that solve problems – he is the CEO of two companies and has founded another three companies.
Perhaps Musk launched the most widely used and well-known cryptocurrency in the world?
The world will likely never know, which certainly makes it possible.
Jack Dorsey is another celebrity that seems poised to launch a cryptocurrency at some point. Dorsey got his start by launching Twitter and then purchased payment processor Stripe seems like a strong candidate to start a cryptocurrency.
Stripe already holds over $2 billion worth of Stellar Lumens (XLR) and an undisclosed amount of Bitcoin.
Could Stripe, under the leadership of Dorsey, launch their own cryptocurrency?
It’s possible. But it seems more likely that Dorsey prefers not reinventing the wheel and instead relying on tried and true cryptocurrencies like Stellar and Bitcoin.
We rate the chances of him starting a cryptocurrency as low, but he will likely be a celebrity that is an early adopter and proponent of cryptocurrencies.
Finally, Bill Gates is another celebrity that could launch a cryptocurrency. We know Gates is a little behind the curve on technology at this point, being 65 years old and not having been involved with Microsoft for years.
In fact, many say that Microsoft declined in the later years of Gates’ leadership of the software company.
That said, Gates has been involved in philanthropy all over the world and has discussed the positives of cryptocurrency to solve problems like world hunger and poverty.
On the other hand, Gates does not appear to be interested in building another cutting edge technology solution at his age. Instead, he focuses on how we can utilize blockchain technology and cryptocurrency solutions to improve the world.
Is it possible one of the world’s richest men will launch a cryptocurrency token?
It’s always possible, especially given the resume that Gates has in technology. But just like Dorsey, Gates seems more likely to utilize existing blockchain solutions to accomplish his goals rather than creating his own blockchain solution.
We rate the odds of Gates starting a cryptocurrency as very low all things considered (age, lack of interest in launching a tech company, focus on philanthropy, etc.).
The Problem with Celebrity Tokens
There is one clear and obvious problem with celebrity tokens:
They’re created by celebrities.
Why is that a problem?
Well, celebrities are celebrities not for their amazing coding ability or project architecture skills. They are celebrities because they are good leaders, good actors, work well with the media, and a host of other reasons that have nothing to do with their ability to develop blockchain software.
You have probably noticed that all the top cryptocurrencies were created by computer science experts. Many of these experts, such as Dr. Gavin Wood, have a PhD in computer science and have been involved in cryptography for decades.
That said, it is still possible for a celebrity to “launch” a cryptocurrency token. But they will more likely than not be a figurehead used for publicity purposes rather than a key component of the development of the cryptocurrency.
We can not really complain about that, though. Anything that gets cryptocurrency in the minds of the average person is a good plan because as it stands, everything cryptocurrency other than Bitcoin is only really known by a small minority of people.
Well, that’s about it for our picks of the first celebrity to launch a cryptocurrency token. Elon Musk is the first choice for what should be obvious reasons. He’s eccentric, is not afraid to run multiple companies at the same, and has been a supporter of cryptocurrency for years.
Other top candidates to launch a cryptocurrency include Jack Dorsey and even Bill Gates. Gates is much more unlikely than others, but has expressed an interest in using cryptocurrency to solve global problems.
Now, the problem with a celebrity launching a cryptocurrency is that, other than a load of publicity and maybe money, most celebrities bring absolutely nothing to the table.
Of course, money and publicity are always important for any project. But a celebrity involved in launching a cryptocurrency token is likely nothing more than a quick publicity grab by the real team developing the cryptocurrency.