Over the years, celebrities, stars and industry icons have used social media platforms such as Twitter, Tumblr, Facebook, Weibo and Instagram to successfully build up their popularity and keep their brand names current. Some celebrities such as Jared Leto and Miranda Kerr, are reportedly earning five figure sums on a single social media post. In a forecast by an industry expert eMarketer, the spending on social network advertisement will reach US$35 billion and this figure is set to grow year on year.
The amount of money raised from ICOs in 2017 alone are in excess of US$3 billion dollars and has surpassed venture capitalist funding for startups. They have become an additional way for companies to raise money from users and investors by releasing its own digital currency. Users and investors will then own utility tokens or digital currencies which can be redeemed for products and services or be incentivized through capital appreciation.
Celebrities have the ability to influence and impact millions of people across the globe when they ICO their popularity. By engaging directly with their fans and followers on social media, celebrities will be able to strengthen their affiliation and leverage on the influence they have over their fans to make positive change, enhance their career growth or promote their philanthropic and charitable causes.
The extensive reach of social media provides a huge potential for celebrities to monetize their popularity. All it takes is a tweet, a status update, or photos to keep them constantly engaged in the public sphere, enhancing their popularity status and increase their personal and commercial value.
