Celebrities are still purchasing NFTs and flexing them online
Summary
In the past few days, Jimmy Fallon has received some Moonbirds and Neymar has purchased a Mutant Ape. But the reasons why these two celebrities acquired their NFTs are very different. They highlight how NFT projects operate in the current system and the levers they pull to generate hype.
Jimmy Fallon tweeted yesterday that he’s joined the latest NFT hype project, Moonbirds. And Paris Saint-Germain soccer star Neymar recently purchased Mutant Ape #10953. But celebrity endorsement and online flexing are nothing new to a space built on reputation, exclusivity and money.
Saying this, it’s always interesting to see someone famous buy an NFT for a huge price. And it’s even more interesting to see which projects they’re buying into and where the NFT came from. Because sometimes purchases are more than simple purchases – they can be great marketing tools for a new NFT collection.
