Well, there is no shame in promoting the ICO's but one must have some limits before signing some endorsement contracts.
ICO's have become a cup of tea for raising money for the companies trying to launch their own crypto project in this volatile crypto space because ICO's are decentralized, have no central authority to report to, have no fixed protocols to follow. Now, anyone can come with their own ICO project backed by a well-furnished Whitepaper.
ICO's have raised more than $2 Billion within this year only because of the rising cryptocurrency popularity.
People are trying to get their hands on these ambitious ICO's so that they can yield huge ROI whenever the coin get listed on an exchange and price started to increase.
But for an ICO to become successful, needs rigorous marketing as all the new projects needs. But endorsement done by celebrities provide effective and quick results.
That's why currently many ICO's are employing several celebrity's popularity to get people attention.
There are many celebrities who have already promoted many ICO's on their social media accounts.
Recently Mr. Floyd Mayweather, the American based world Boxing champion, promoted Stox ICO project on his twitter account and the project then raised millions of dollars in it's crowd sale.
After that, Recently DJ Khaled, a record produced and radio celebrity also promoted Centra ICO project and the company is sure to receive huge response from investors.
But now recently, Miss Paris Hilton, the famous TV celebrity, having a huge followership on social media platforms has also promoted an ICO project on her Twitter account.
The project she endorsed was LydianCoin. Ever heard of it ? Well, that's the irony of crypto market.
Well, she wrote on her twitter account that she's looking forward to participate in the Lydian Coin Project in it's Crowdsale.
This was her exact tweet:
Looking forward to participating in the new @LydianCoinLtd Token! #ThisIsNotAnAd#CryptoCurrency #BitCoin #ETH #BlockChain pic.twitter.com/a8kT9eHEko— Paris Hilton (@ParisHilton) September 3, 2017
Well, the project is related to a platform combining the blockhain with AI contained digital marketing and advertising services. So, basically it is fairly related to advertising solutions.
Now, the surprising part is: The Lydian Coin project is operated by Gravity4, an advertising-tech company. Well, the CEO of Gravitiy4, Mr. Gubaksh Chahal was recently convicted for guilty to assault his own girlfriend in year 2014 and later on he was also accused of assaulting another woman.
So, he is a pretty infamous person and endorsing his company's project might not be well for Hilton's reputation and fame.
But still, money can do wonders if properly spent.
Conclusion: I would advise all of crypto evangelists not to fall victim under the influence of any celebrity endorsing an ICO project. Use your own research and intelligence while making an investment decision.
Thank you.
