Year of sponsorships: Celebrities who embraced crypto in 2021 By Cointelegraph

Though the crypto space has seemingly moved beyond the endorsements many minor celebrities bestowed on token projects during the 2018 initial coin offering boom, its growing popularity and acceptance now has professional sports players, Hollywood elites and politicians backing major companies dealing with digital assets.

In June 2021, Kim Kardashian promoted EthereumMax (EMAX) via an Instagram story shared with her more than 200 million followers. The token, which was used as payment for online ticket purchases for some pay-per-view events, gained 116,000% in just one week following the celebrity’s activity before falling more than 99% and leaving many investors in the red.

Kim Kardashian promoting EthereumMax on Instagram Stories, June 2021. Source: Instagram