Jake Paul, the Bitcoin investor and professional boxer, recently made headlines in the crypto space. Paul, along with several other renowned figures such as [Lindsay Lohan](/news/article/lindsay-lohan-faces-charges-from-sec) and DeAndre Cortez Way, faced charges from the US SEC [for promoting securities](/news/article/us-sec-regulation).  

The SEC issued a statement about the case in a press release on 22 March, 2023. It signified that Paul and eight other celebs endorsed two unregistered crypto securities, BitTorrent (BTT) and Tronix (TRX). Allegedly, Paul was specifically involved with the TRX tokens' promotion introduced by the Tron Foundation Limited.  

However, the US financial watchdog and the digital content creator turned boxer immediately devised a settlement plan.  

## Paul negotiated a settlement of $400,000 with the SEC 

According to an [ESPN report](https://www.espn.in/boxing/story/_/id/35920648/sec-charges-jake-paul-unlawful-promotion-crypto-assets), the settlement terms from the SEC included the payment of $400,000 as penalties and interests. The amount was set to pay for the charges for promoting a cryptocurrency without explicitly mentioning that the company behind the coin paid them. Paul and other celebrities who were also charged with the breach of SEC laws agreed to pay the settlement amount.  

The financial regulatory body alleged that the prizefighter endorsed the TRX tokens for compensation in cryptocurrencies worth $25,019. For pressing the charges against Paul, the SEC referenced his Twitter post from 12 February, 2021. Paul was replying to the Rapper Lil Yachty in the tweet and mentioned #TRX with a rocket emoji. 

Supposedly, the tweet was sponsored and influenced people to invest in the token. Due to this reason, regulators filed charges against Paul and other famous figures. However, the prizefighter denied the charges even after the deal. 

## A lawsuit against Justin Sun and his three companies  

The SEC also filed charges against the companies behind TRX and BTT tokens, namely Tron Foundation Ltd., Rainberry Inc., and BitTorrent Foundation Ltd. All of these companies were set up by a prominent entrepreneur in the crypto space, Yuchen Justin Sun. According to the filing, these companies sold unregistered securities to their customers. 

Apart from that, the charges against Sun included using wash trading and deceptive tactics to manipulate the market. Allegedly, Sun and his companies were selling and purchasing their tokens at almost the same time to fraudulently maintain the trading volume of the tokens in the market.  

They used this scheme only to maintain the tokens' price and compensate the celebrities. Meanwhile, other media figures named in the case were Lindsay Lohan, Soulja Boy, Kendra Lust, Rapper Lil Yachty, Austin Mahone, Akon, and Ne-Yo.  

Among these celebrities, only Austin Mahone and Soulja Boy are the ones who did not agree to the SEC settlement. 

## Jake Paul Bitcoin and crypto shilling 

Jake Paul is an infamous American media personality who started his boxing journey in 2018. In recent years, the boxing star also became quite popular in the cryptocurrency world because of his investments in cryptocurrencies as well as non-fungible tokens (NFTs). The Jake Paul Bitcoin association began about two years ago, when he revealed in [a BitBoy Crypto podcast](https://www.youtube.com/watch?v=Ezffg0qtAXA) that he invested in BTC when it was only worth $100, and he has been hodling the asset since then.  

The tweet for Tronix was not the first instance when the boxer endorsed a cryptocurrency. He is often introduced as a rising crypto influencer in the crypto space and has been rooting for numerous blockchain projects.  

While there is a Jake Paul Bitcoin association, other projects he has been associated with in the past do not have a good reputation in the market. In 2022, a project named Animoon, which he promoted, exited the market with an alleged [rug pull](/news/article/rug-pull-what-is-it) of around $6.3 million. Moreover, his brother Logan has also been involved in the [CryptoZoo](/news/article/logan-paul-cryptozoo) scam. 

Jake paul in front of red pile of bitcoins

Jake Paul - Bitcoin Investor or Shiller?

When it comes to the world of crypto, few individuals have had as much influence as Elon Musk. The eccentric entrepreneur has made headlines time and time again for his comments on various cryptocurrencies, including Bitcoin, Dogecoin, and Ethereum. 

In this article, we'll take a closer look at Elon Musk's crypto journey, examining the implications of his involvement on the market, investors, and traders. 

## The Elon Musk crypto effect: A timeline 

Musk's interest in cryptocurrencies dates back to 2014, when he first mentioned Bitcoin in a tweet. Since then, his engagement with the crypto community has grown, leading to notable comments and tweets about cryptocurrencies such as Bitcoin, Ethereum, and, most prominently, Dogecoin. 

In 2021, the "Elon Musk crypto effect" reached new heights. In February, it was revealed that Tesla had purchased Bitcoin worth $1.5 billion, and the company said it would begin accepting BTC as payment for its vehicles. This news sent Bitcoin's value skyrocketing, solidifying its status as the leading digital currency. 

However, in May 2021, Elon Musk reversed Tesla's decision to accept Bitcoin payments, citing environmental concerns due to the high energy consumption in cryptocurrency mining. This led to a significant drop in Bitcoin's value, demonstrating the power of Musk's influence on the market. 

At the same time, Elon Musk's love for Dogecoin has been well-documented. His frequent tweets and endorsements have caused the coin's value to surge, often followed by a subsequent drop. This volatility has left many investors and traders questioning the long-term implications of Musk's involvement in the crypto space. 

## The ripple effect of Elon Musk crypto tweets 

Elon[ Musk's tweets](https://www.cnbc.com/2021/02/08/tweets-from-elon-musk-and-celebrities-send-dogecoin-to-a-record-high.html) about cryptocurrencies have sent the market on a rollercoaster ride. In early 2021, Dogecoin's value skyrocketed by more than 800% following Musk's tweet, demonstrating his far-reaching influence on the crypto market. 

Musk's humorous and engaging tweets often spark debates, such as when he criticized Bitcoin's energy consumption, causing its value to drop by more than 10%. 

Even subtle actions like adding "#bitcoin" to his Twitter bio led to a [20% increase in Bitcoin's value](https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3778844), a phenomenon dubbed the "Musk Effect". 

Social media platforms like Twitter play a critical role in the cryptocurrency market, facilitating communication and information sharing among investors and enthusiasts. However, this can be a double-edged sword, introducing unpredictability and volatility to the market while empowering small investors. The impact of influential figures like Musk on the market remains a topic of debate. 

## Social media's role in the crypto market 

Musk's crypto tweets are just one example of how social media can shape the crypto market. Platforms like [Twitter](https://twitter.com/home), [Reddit](https://www.reddit.com/), and [Telegram ](https://telegram.org/)have become hotbeds for discussions about cryptocurrencies, with users sharing news, analysis, and predictions about the market. These discussions can significantly impact the market, as evidenced by events like the GameStop short squeeze and the rise of meme-based cryptocurrencies like [Dogecoin](/news/article/elon-musk-twitter-dogecoin). 

Social media also allows for the rapid dissemination of accurate and misleading information. This can lead to market manipulation and misinformation, harming the market's stability and credibility. 

Despite these risks, social media has also been crucial in fostering community building and education in crypto. Platforms like YouTube and Twitter have enabled experts and enthusiasts to share educational content on cryptocurrencies, making it easier for newcomers to learn about blockchain technology, trading strategies, and investment opportunities. These communities often provide valuable feedback, support, and promotion for cryptocurrency projects, contributing to their success. 

Influencer marketing has become another significant aspect of social media's impact on the crypto market. Crypto influencers with thousands or even millions of followers can drive tremendous interest in specific cryptocurrencies, impacting their market value with just a single tweet or post. 

While this can lead to increased adoption and awareness, it also raises concerns about market manipulation and the potential for pump-and-dump schemes, where influencers artificially inflate [cryptocurrency prices](/news/article/bitcoin-up) before selling at a profit. 

## Conclusion 

In conclusion, Elon Musk's impact on the cryptocurrency world is undeniable. His comments and tweets have significantly influenced the market, leading to both positive and negative implications. 

While his passion for cryptocurrencies is evident, the long-term effects of his influence remain to be seen. As the industry continues to evolve, it will be crucial for investors, traders, and enthusiasts alike to make informed decisions that are based on more than just the latest "Elon Musk crypto" tweet. 

Blue image of crypto exchange with Elon Musk in foreground

Elon Musk crypto influence: Market implications

The fashion industry has embraced the virtual world with remarkable success in the modern era. Before the Queens of the Metaverse event, renowned brands such as Gucci, [Louis Vuitton](/news/article/louis-vuitton-nft-review), Balenciaga, Dolce & Gabbana, and others had demonstrated how fashion can flourish in the digital realm. The convergence of technology and fashion is opening up new avenues for innovation and creativity. 

Meta (previously known as Facebook) organized a unique virtual drag show in London last year. This article aims to delve into the details of this event, exploring what it entailed and whether Mark Zuckerberg's vision of[ the Metaverse](/news/article/what-is-the-metaverse) lived up to its considerable hype. 

## Queens of the Metaverse - What is it? 

![screenshot from Queens Of The Metaverse competition](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Screenshot_2023_07_06_at_16_16_20_b7c1aa4a9f.png)

[Queens of the Metaverse](https://about.fb.com/news/2022/09/queens-of-the-metaverse-the-first-ever-mixed-reality-drag-show/) was the first drag show in the Metaverse using mixed reality. The virtual drag show was powered by Meta and held on 8 September, 2022, in London. It featured emerging digital fashion designers who used virtual reality (VR) and augmented reality (AR) to design garments. The show also aimed to promote queer creativity. 

The show aimed to showcase how VR and AR can help create immersive and interactive experiences. For this reason, the designers opted for tools such as digital avatars, virtual design technology, Horizon Workrooms, and others. They came up with three costume designs and then turned them into physical outfits.  

Three creative fashion designers were part of this virtual show. Nwora Emenike, Christie Lau, and Sal Mohammed were the designers, and they represented the LGBTQ+ community. Three drag artists wore their Metaverse-inspired outfits and walked on the ramp.  

## Drag queens on the virtual drag show 

The drag queens for Meta's show include three renowned names in fashion. They are:  

- Blu Hydrangea - They are the prizewinner of the "RuPaul's Drag Race: UK vs. The World" show and wore the costume designed by Nwora Emenike.  

- Tia Kofi - They are known for their pop music and appearance in season 2 of “RuPaul’s Drag Race: UK vs The World” show. 

- Adam All - A non-binary British drag king. They wore an outfit designed by Christie Lau. The outfit was a classic two-piece that depicted hyper-masculine features. 

Overall, the costumes of the drag queens on the show portrayed the themes of gender identity and expression. According to the designers, their experiences as members of queer community inspired these designs. Also, they noted that the [AR/VR tech ](/news/article/metaverse-vr-project-guide)and Metaverse provided them with a platform to experiment with their designs. 

## Meta’s Metaverse isn’t fully developed yet 

Although Meta's mixed reality drag show has created a new genre, Metaverse still has [a long way to go](https://www.independent.co.uk/voices/tia-kofi-queens-of-the-metaverse-drag-race-b2161623.html#comments-area). Meta shared a two-minute video clip of the show, which showed artists and designers expressing their opinions and experiences.  

Unfortunately, the video seemed too basic and did not depict how Metaverse tech is actually being used for the drag show. Besides, the use of AR and VR was far from what one would expect from a virtual world.  

The Independent published a piece by Tia Kofi where they wrote, “While it’s clear that the metaverse is in its early stages, I’ve been amazed by how prominent queer talent, creatives, designers, and technicians are in bringing their star power to its development.”  

So, even though the creativity of the drag acts and designers was notable, Meta’s Metaverse itself failed to leave a mark.     

## Final thoughts 

In today's digital age, the fashion industry is harnessing the power of new technologies to drive innovation. A notable example of this is Meta's mixed reality drag show in the Metaverse, which provided a platform for artists and designers from the LGBTQ+ community to showcase their creativity and self-expression. This event highlights the growing role of the Metaverse as a medium for fostering artistic expression and pushing the boundaries of creativity. 

purple image of drag queens in the metaverse

Queens of the Metaverse Explored 

CryptoZoo is an NFT-based game in which you can hatch virtual NFT eggs, breed hybrid animals, and play with them while earning yield in $ZOO, the project's native cryptocurrency. The NFT/crypto project was conceived by Logan Paul in August 2021. 

The world-famous [influencer](/news/article/cryptozoo-logan-paul-apologises-for-failure) introduced the project to the 4.5 million subscribers of his YouTube podcast, [Impaulsive](https://www.youtube.com/watch?v=rqrH7TbruZA&t=353s), as “a really fun game that makes you money". The project was well-received by NFT and gaming enthusiasts, with CryptoZoo NFTs ranking 7th on OpenSea in terms of total volume on 5 September, 2021. 

![Opensea top NFT list screenshot](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Screenshot_2023_06_28_at_11_08_12_a79b6ea0d6.png)

Unfortunately, the hype was short-lived. Nearly two years after announcing the ideation of CryptoZoo, Logan Paul has failed to deliver the game, despite supposedly investing a million dollars into making the game and hiring credible game developers, project managers, marketers, and artists. 

Investors are down by thousands and Logan Paul faces a lawsuit alleging fraud, breach of contract, and negligence. CryptoZoo is not the only instance of Logan Paul's failed dealings in the crypto space – Dink Doink and Liquid Marketplace are two failed projects he was strongly associated with. 

## The rise and fall of CryptoZoo (ZOO) 

CryptoZoo draws inspiration from Pokemon. If you combine the popularity of Pokemon as a brand, the billions Niantic has earned from Pokémon Go, the 2021 NFT boom, and the marketing pull of Logan Paul as an influencer, it is no surprise that investors looking for quick money bought into the idea. 

While Logan Paul does NOT have a glittering reputation, with several odd and somewhat deplorable past instances that come to mind, he is a brand and a half. 

He rose to fame as a video blogger, [was named the most famous influencer in the world in 2021](https://www.insider.com/most-famous-influencers-insider-data-logan-paul-pewdiepie-2021-2), and became a WWE wrestler in 2022, committing numerous notorious acts throughout his pompous journey. Logan Paul bought more than 100 NFTs worth over $2M in 2021 and created CryptoZoo in August of that year. 

The project's NFT collection was launched on 3 September, with 10,000 "Base Eggs" selling out within minutes! After scaling to 7th place in terms of total volume on OpenSea a few days later, the NFT collection failed to gather further momentum. The project's total sales volume is 2,930 ETH (over $5M currently), with a 2.5% creator fee. 

At the time of writing, [just 2,927 such NFTs exist, owned by 1,293 holders](https://www.nft-stats.com/collection/cryptozoo-co). The most expensive sale was $203.21 (Base Egg 119), with zero sales in the past week and very few sales in the past weeks and months. 

While statistics of the NFT collection look bad, the project’s native token, $ZOO, is where investors lost the most. 

![graph showing cryptozoo price on CoinGecko](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Screenshot_2023_06_28_at_11_08_32_1976d9c5f5.png)

$ZOO reached an all-time high of nearly $0.0005 on 26 August 2021 and fell spectacularly to just over $0.0000002 on 29 September 2021. This represents a HUGE loss for thousands of investors! Speaking to [TIME](https://time.com/), young Rueben Tauk invested over $100,000 in $ZOO in late 2021. 

His investment is nearly zero at the time of writing. Currently, $ZOO is trading at a paltry ~$0.0000008. It is not hard to believe that Logan Paul faces a lawsuit requesting class-action status from buyers into the project. 

## CryptoZoo Logan Paul: lawsuit details 

In February 2023, a lawsuit was filed against Logan Paul in an effort to bring justice to thousands of CryptoZoo investors is being spearheaded by attorney Tom Kherkher. 

The lawsuit reads that Logan Paul and Co. "made the business decision to forgo an expensive and time-consuming process to create a functional CryptoZoo game or support it, and instead deliberately undertook a scheme to defraud Plaintiff and other consumers". 

If the class-action status is granted, thousands of investors who are victims will be eligible to join. Before filing the lawsuit on 13 January, 2023, [Logan Paul said he would refund token holders ](https://www.youtube.com/watch?v=hAjggQvFc20&t=19s)at least $1.3M and complete the game (after being called out by Coffeezilla). 

It is yet to be seen what will happen – will he refund $ZOO holders and finish the game, or will the law take matters into its own hands? We at Moni Talks hope all investors are reimbursed. 


Pink Image of logan paul, founder of Crypto Zoo NFT game

Logan Paul CryptoZoo: Influencer’s project a scam? 

Summer Swap token was a reward earned from FIFA's Summer Swaps program. The program tasks players with [earning the tokens](/news/category/gamefi) through the completion of in-game objectives and Squad Building Challenges (SBCs). Once players understood how to get the token, and earned them, they can be traded for rewards. 

## Summer Swaps 2 

This is the latest token system in FIFA 22. Players can earn a total of 50 tokens from the program. Tokens earned can be redeemed for the following untradeable rewards: 

- 1 Token – 82+ x25 Players Pack. 

- 2 Tokens – 83+ x25 Players Pack. 

- 3 Tokens – 84+ x25 Players Pack. 

- 4 Tokens – Icon Moments Zambrotta. 

- 5 Tokens – 85+ x20 Players Pack. 

- 8 Tokens – 94+ Shapeshifter Player Pick (1 out of 4 player options). 

- 10 Tokens – 86+ x15 Pack. 

- 12 Tokens – Hero Shapeshifter Player Pick (1 out of 5). 

- 15 Tokens – 93+ Icon moments Player Pick (1 out of 3 player options). 

- 17 Tokens – 95+ Shapeshifter Player Pick (1 out of 5). 

- 20 Tokens – Ben Yedder Futties 97 OVR. 

- 24 Tokens – 95+ Icon Moments Pack. 

- 27 Tokens – Ben Yedder Futties 98 OVR. 

- 30 Tokens – Di Natale Shapeshifters Hero 97 OVR. 

- 32 Tokens – 96+ Shapeshifters Player Pick (1 out of 5 player options). 

- 34 Tokens – 94+ Icon Moments Player Pick (1 out of 4). 

- 36 Tokens – Icon Moments Cruyff. 

The more tokens collected, the better the rewards. 

## How to get the Summer Swap token 

- 1st token - Chris McCann: Earned after logging into FUT (FIFA Ultimate Team). 

- 2nd token - Joe Murphy: Earned by completing Maxwel Cornet Futties Objectives plus Murphy token. 

- 3rd token - Luke McCormick: Obtained by completing FUT 14 SBC (Squad Building Challenge). 

- 4th - Tomas Durso: Earned by completing Against the Tide (SBC). 

- 5th and 6th tokens - Danny Musovski and Ian Bermingham: Obtained by completing Objectives Win 4 Belgium. 

- 7th and 8th - Mark Oxley and Lars Nieuwpoort: Earned by completing Objectives Win 4 Uruguay. 

- 9th and 10th tokens - Shunsuke Ando and Matthis Harsman: Obtained by completing Objectives One Nation Germany. 

- 11th and 12th - Thijs Jansen and Barry McNamee: Earned by completing Objectives One Nation Netherlands. 

- 13th token - Rorry Gaffney: Obtained by completing Performance is Key (SBC). 

- 14th - Lewis Thomas: Earned by completing Futties Voting Day (SBC). 

- 15th - Dominic Bernard: Buy Futties Foundation Pack. 

- 16th - Waniss Taibi: Complete Casemiro Futties Objectives and Bernard Token. 

- 17th - Camilo Albornoz: Complete Bundesliga TOTS Challenge 3. 

- 18th - Antoine Lejoly: Complete Ultimate TOTS Challenge 3. 

- 19th and 20th - Abdelkabir Abqar and Erik Majetschak: Complete Objectives Win 4 Argentina. 

- 21st and 22nd - Ali Youssef and Ousoumane Camara: Complete Objectives Win 4 Brazil. 

- 23rd and 24th - Lassine Sinayoko and Feyzi Yildirim: Complete Objectives One Nation Portugal. 

- 25th and 26th - Ouparine Djoco and Jack Sowerby: Complete Objectives One Nation France. 

- 27th - Lenny Lacroix: Complete TOTY Challenge 4. 

- 28th - Yosuke Yuzawa: Complete Gelson Martins Futties Objectives and Yuzawa Token. 

- 29th - Pius Kratschmer: Complete Headliner SBC. 

- 30th - A Ndiaye: Complete Shapeshifters Challenge 15 SBC. 

- 31st and 32nd - Abdulwahab Jafar and Jubril Okedina: Complete Summer Swaps III Win 4 Mexico. 

- 33rd and 34th - Dean Lyness and Jaiber Jimenez: Complete Summer Swaps III Win 4 Spain. 

- 35th and 36th - Umut Gunes and Goro Kawanami: Complete Summer Swaps III Objectives One Nation Italy. 

- 37th and 38th - Anthony Uzodimma and Asahi Masuyama: Complete Summer swaps III One Nation England: Win 4 matches in the live FUT friendly. 

- 39th - Hugo Novoa: Win strategy SBC. 

- 40th - Jorge Padilla: buy Futties Foundation Pack. 

- 41st - Yanis Cimignani: Porto vs. Sporting SBC in Marquee Matchups. 

- 42nd and 43rd - Ugo Bertelli and Shilow Tracey: Win 4 Poland: Win 4 Squad Battles matches on min. Professional difficulty with 11 Polish players in your starting squad. 

- 44th and 45th - Edgar Lopez and Halldor Stenevik: Win 4 Switzerland: Win 4 Squad Battles matches on minimum professional difficulty with 11 Swiss players on your starting squad. 

- 46th and 47th - Krisztofer Horvath and Damian Isac: Finish Summer swaps IV Objectives One Nation Belgium. 

- 48th and 49th- Angel Zapata and Abdulaziz Majrashi: Complete All summers swap IV Objectives One Nation Brazil. 

- 50th summer token - Kyle Taylor: Earned by completing All Summers Swaps IV milestone. 

## Conclusion 

[Summer Swaps 2 ](https://earlygame.com/fifa/fifa-22-summer-swaps-tokens-rewards)was launched on 29 July, 2022, and players had up to five weeks to earn the 50 tokens. The live event ended on 29 August, 2022. Those lucky to get the tokens redeemed them for various gaming rewards, including players and packs. The [tokens](/news/article/augmented-reality-tokens-explained) were redeemable for rewards between 12 August and 29 August. 

Hopefully this helps explain how to get Summer Swap token as a FIFA 22 player. 

summer swaps token image with pink filter

How to Get Summer Swap Token

US regulators have accused eight well-known personalities, such as Lindsay Lohan and Jake Paul, of engaging in an illicit cryptocurrency scheme. The charges claim that these celebrities used their social media presence to enhance the value of two [crypto](/news/article/cryptocurrency-news-predictions) tokens without disclosing that they received payment for promoting them.

The US Securities and Exchange Commission (SEC) [officially announced](https://www.sec.gov/news/press-release/2023-59) the charges on Wednesday.
The SEC claims celebrities used social media to share their cryptocurrency promotional messages.

## Lindsay Lohan Charges

On February 11, 2021, Lindsay Lohan, who has more than 8 million Twitter followers, tweeted that she was already liking Justin Sun's cryptocurrencies, which included $TRX.

In the tweet, she praised the currencies' super-fast speed and lack of fees while commending Justin Sun. In March 2021, she [advertised](https://twitter.com/lindsaylohan/status/1377647992639954945?s=20) an auction for an [NFT](/news/article/nft-tax-uk-rules-explored) of one of her songs and tweeted about it on April 1, 2021, saying there were just over 9 hours left to bid.

SEC Chair Gary Gensler stated that the Lindsay Lohan charges and associated cases highlighted the significant risks investors are exposed to when crypto asset securities are marketed and sold without adequate disclosure.

## Other celebrities charged with illegally promoting crypto assets

Charges have been brought against several famous individuals, including musician Soulja Boy (real name DeAndre Cortez Way), aged 32; singer Austin Mahone, aged 26; porn actress Michele Mason (better known as Kendra Lust), aged 44; musician Ne-Yo (real name Shaffer Smith), aged 43; rapper Lil Yachty (real name Miles Parks McCollum), aged 25, and Senegalese-American singer Akon (real name Aliaune Thiam), aged 49.

According to the [SEC](/news/article/looming-coinbase-sec-probe-upsets-coin-price), they are accused of illegally promoting TRX and [BTT](/news/article/btt-crypto-price) crypto assets without disclosing their compensation.

Additionally, crypto investor and Grenada diplomat Justin Sun is accused of fraud for manipulating the trading activity of the two tokens to make it appear as if they were being actively traded. This practice is known as "wash trading".

Except for Mr. Cortez Way, Akon, and Mr. Mahone, all the celebrities, including Lindsay Lohan, have collectively paid over $400,000 to resolve the charges.


red image of crypto coins with celebrities Lindsey Lohan, Jake Paul, Ne-Yo and Akon standing in foreground

Lindsay Lohan Faces Charges from SEC 

No stranger to controversy, Madonna, who's been turning heads for more than 40 years on matters of entertainment, business, and sexuality, is at it again. In partnership with the artist Mike Winkelmann of the Beeple NFT fame, she's lately released a series of NFTs.

## Madonna embraces blockchain

Pop superstar Madonna's entry into the world of non-fungible tokens (NFTs) last March 2022 caught many fans by surprise. She forked out 180 ETH, worth a whopping $560,000 at that time, for a tattooed NFT ape from the Bored Ape Yacht Club ([BAYC](/news/article/bayc-derivatives-explored)) digital art collection. 

Later, in May 2022, the musician released the first Madonna NFT series titled the “[Mother of Creation](https://motherofcreation.xyz/)". The series comprises three digitally rendered videos showcasing a nude woman giving birth to fauna, flora, and technology.

The digital artwork resulted from a year-long partnership between her and Mike Winkelmann, also known as Beeple. Winkelmann made the headlines in 2021 with his Everydays: the First 5000 Days, which fetched $69.9 million at Christie's and set the NFT space on fire. 

## What is the Madonna NFT collection?

The "Mother of Creation" is an exclusive collection containing only three single-edition NFTs. The digital artist and pop/sex symbol is using the videos, showcasing three different motherhood-inspired aspects of life to celebrate motherhood. The Madonna NFT videos give audiences a full-frontal view of the pop star's avatar lying in a hospital bed, forest floor, and rusted vehicle, giving birth. Each of the NFTs is paired with her poetry or that by Rumi, a mystic poet. 

The NFTs are named:

1.	Mother of Nature: The first Madonna NFT, depicting her lying on a laboratory bed delivering a tree that blooms as soon as it comes out of her body, focuses on plant life.  

2.	Mother of Evolution: The second NFT depicts her naked in a run-down city while sitting in some modified vehicle. In the video, her legs are open, and butterflies emerge from her body – the NFT focuses on animal life.

3.	Mother of Technology: The third NFT showing Madonna stark naked and lying in the middle of a forest shows a series of bionic centipedes moving up and down after protruding from her vagina, focusing on technological advancement.

## A provocative NFT collection with a cause
 
To the casual observer, the Madonna [NFT collection](/news/article/are-nfts-dead-investigation) is peculiar but mostly seen as provocative. However, for those in the know, both the theme and execution of the videos are consistent with the character and style of Madonna and Beeple. The amorousness depicted has characterized Madonna’s decades-long musical and artistic career, while the weird renderings speak loudly of Beeple’s typical artwork.

Asked about the provoking nature of her NFT project, Madonna told [New York Times](https://www.nytimes.com/2022/05/09/arts/design/madonna-beeple-nft-videos.html) that the theme was deliberate and wasn't simply "provocative just for the sake of provocation". According to the pop diva, the centipedes and butterflies she gives birth to in the videos symbolize hope and technology.    
  
## Conclusion 

Despite the backlash and initial criticism from the community following the launch of the Madonna NFT collection, the Mother of Creation NFT series fetched more than $600,000. While it may be a far cry from Beeple's $69.9 million, Madonna intimated that proceeds from her NFTs would benefit three non-profit organizations working for women and children. They are the Ukraine-based Voices of Children Foundation, the Congo-based City of Joy Foundation, and Black Mama's Bail Out.

Beyond being a source of entertainment, Madonna’s NFTs indicate that celebrities and charities can, through the [sale and auctioning of NFTs](/news/article/are-nfts-dead-investigation), secure funds for organizations and movements supporting significant causes.


madonna nft created by beeple with image of madonna singing in foreground

Madonna NFT Collection Courts Controversy 

Snoop Dogg is announced as one of the co-founders of Shiller, a Web3-based livestream platform for creators. This investment marks another Web3 collaboration for the well-known hip-hop artist.
Shiller will heavily incorporate blockchain technology, enabling content creators to "token-gate" their streams and promote non-fungible tokens or other e-commerce products. These content creators can receive payment in [Ether](/news/article/ethereum-pow-price-prediction) (ETH) or NFTs, which can be exchanged for fiat currency. 


The Snoop Dogg investment and partnership list includes one with Sandbox in April last year to introduce the "Snoop Avatars" NFT collection. He released the hip-hop track "A Hard Working Man", followed by a 50,000-piece NFT release. He also teamed up with [Yuga Labs](/news/article/yuga-labs-explained), the creators of Bored Ape Yacht Club (BAYC) and CryptoPunks, to perform on a Metaverse-transformed stage at 'MTV's Video Music Awards'. Furthermore, Snoop Dogg has recently become the "[Chief Ganjaroo Officer](https://www.prnewswire.com/news-releases/roobet-announces-partnership-with-entertainment-legend-snoop-dogg-301759861.html)'' at Roobet, a crypto casino, as announced by Roobet on 1 March.

## Shiller launches as part of growing creator economy

The launch of Shiller is likely a part of the broader creator economy movement anticipated to involve Web3 technology. Web1 allowed users to read content and write HTML, whereas Web2 facilitated user-to-user interactions, popularised by a few social media giants, including Facebook, Google, and YouTube. [Web3](/news/article/web3-games-raised-millions) seeks to remove intermediaries by empowering creators to own their content and its revenues fully. Platforms like Shiller emphasise the empowerment of creators to take ownership of their content without the intervention of any centralised intermediaries such as social networking platforms.


Shiller will enable creators to have greater control over the monetisation of their content. According to a [statement](https://shiller.io/dogg/), Snoop Dogg, the co-founder of Shiller, expressed his enthusiasm for partnering with London-based tech entrepreneur Sam Jones to launch the platform. He believes that Shiller allows creators to reach their fans in distinctive ways and monetise their content on their own terms, aligning with his philosophy of directly engaging with his fans.


snoopdog dancing next to Shiller app logo

Snoop Dogg Investment in Shiller 

The Securities and Exchange Commission has charged former Boston Celtics player Paul Pierce for promoting the cryptocurrency EthereumMax on Twitter without disclosing that he was being paid to do so. To resolve these charges, Pierce has agreed to pay a fine of $1.1 million and around $240,000 in disgorgement and prejudgement interest.

## SEC fines Paul Pierce $1.1M for promoting EthereumMax

The Securities and Exchange Commission has [accused](https://www.sec.gov/news/press-release/2023-34) former NBA star and ESPN employee Paul Pierce of violating the federal Securities Act. The SEC claims that Pierce failed to disclose receiving compensation from a cryptocurrency company for promoting their product online and made money from "an untrue statement of a material fact". 

The [SEC](/news/article/crypto-exchange-kraken-faces-sec-probe) further alleged that Pierce misled the public about his holdings of EMAX, sharing misleading screenshots of his EMAX holdings and profits. Also, he failed to disclose that his actual personal holdings were significantly lower.

He has been fined $1.1 million by the SEC for promoting cryptocurrency, EthereumMax (EMAX). This is the same security product that influencer [Kim Kardashian was previously charged for touting](/news/article/kim-kardashian-crypto-ad).

The NBA star used Twitter to promote EMAX tokens without disclosing that he had received more than $244,000 in the cryptocurrency as payment for his promotions. He did not admit any wrongdoing as part of the settlement and has agreed to pay a $1.1 million penalty and disgorge around $240,000.

Furthermore, he has also been banned from promoting any crypto asset securities for three years, according to the SEC.

The SEC Chairman, [Gary Gensler](/news/article/sec-crypto), said the case is a reminder to celebrities that the law requires them to disclose how much they are being paid to promote investment in securities. He added, "you can't lie to investors when you tout a security".

SEC has recently intensified its efforts to enforce regulations in the cryptocurrency industry. On Thursday, it [charged Terraform](/news/article/terraform-labs-accused-of-fraud-by-sec), a stablecoin issuer, and its CEO, Do Kwon, with crypto fraud.


blue image of paul pierce next to SEC logo

Paul Pierce Settles with SEC Over Crypto Row 

Logan Paul, the popular YouTuber, has expressed remorse for the failure of his CryptoZoo project. He apologised to individuals who sustained financial losses from investing in the cryptocurrency game he had promoted as a [play-to-earn](/news/article/best-farm-games-2022) endeavour.

The CryptoZoo Logan Paul initiative initially offered egg-shaped cartoon images as NFTs that could be hatched into randomly selected animal images. Collectors could breed their animals and earn $ZOO, a linked [cryptocurrency](/news/article/what-is-market-cap-cryptocurrency).

However, Logan, who had previously been associated with another unsuccessful cryptocurrency venture, abruptly stopped promoting the project after generating substantial revenue from selling NFTs and crypto coins. It was alleged that he endorsed a fraudulent cryptocurrency called [Dink Doink coins](https://www.sportskeeda.com/mma/news-youtuber-accuses-logan-paul-creating-promoting-dink-doink-coin-cryptocurrency-scam). An anonymous cryptocurrency investor in CryptoZoo has recently demanded that the Youtuber fulfil his initial promises rather than offering refunds.

## CryptoZoo Logan Paul apology

Stephen Findeisen, a cryptocurrency scam investigator who goes by the YouTube name Coffeezilla, recently released a three-part video series in which he labelled CryptoZoo a scam. He interviewed investors from various countries who claimed to have invested significant amounts of money, ranging from hundreds to thousands of dollars, into CryptoZoo products. He expressed their disappointment and anger towards the company's founder, Paul.

On Thursday, Logan shared a video in which he expressed his frustration and acknowledged that he had erred in hiring individuals he deemed to be "conmen" and "felons" to manage his project. However, he denied any responsibility for the project's failures.

He also criticised Mr Findeisen for providing inaccurate information and warned of legal action. By Saturday, he removed the video and apologised to the investigator. He also posted on the CryptoZoo Discord page that he intended to take responsibility, express remorse, and provide a plan for moving forward shortly.

## What do the CryptoZoo investors want next?

A 34-year-old American man shared with BBC News that he had invested $40,000 in the game after being influenced by the Impaulsive podcast. He expressed disappointment in how the project was handled, stating, "the way he dragged everyone along and then just abandoned it with no words is just wrong".

He also noted that he believes Logan is only now attempting to make amends after the Coffeezilla videos. The man stated that while he does not want a refund, he wants to see the project completed as promised and for "founders'' to fulfil their obligations to investors.


red image of logan paul and cryptozoo egg logo cracking 

CryptoZoo: Logan Paul Apologises for Failure 

Following the fall of the [FTX](https://www.ft.com/content/5d826ca9-389e-41ec-a38b-da43211da974) exchange and the market instability, Bill Ackman, the hedge fund manager and investor, says he remains optimistic about cryptocurrencies.

In a recent Twitter thread, the founder and CEO of Pershing Square Capital Management [stated](https://twitter.com/BillAckman/status/1594456744851558402) that, despite current issues, crypto is here for the long run. However, he said there is a need to enhance regulation and eliminate fraudulent individuals from the industry.

## Who is Bill Ackman?  

Bill Ackman is a billionaire American investor who recently advocated for [eliminating regulatory barriers](https://www.bloomberg.com/news/articles/2022-02-09/bill-ackman-calls-on-new-york-to-remove-crypto-barriers) and relaxing laws in New York to turn the city into a crypto centre. He is also an active participant in several [cryptocurrency](https://cointelegraph.com/blockchain-for-beginners/what-is-a-cryptocurrency-a-beginners-guide-to-digital-money) initiatives.

He believes crypto will stay and can benefit society and substantially build the global economy with proper control and regulation. 
However, he claims that technology needs to improve to combat its capacity to be used to perpetrate fraud.

The issue is that dishonest promoters might generate tokens solely to facilitate pump-and-dump strategies. Some cryptocurrencies are utilised for fraudulent reasons rather than for [legal company development](/news/article/rishi-sunak-crypto-believer-uk-pm).

## Bill Ackman is no longer a crypto sceptic

The investor now sees crypto as having "the ability to help society and develop the global economy substantially". 
He added that it could enable the establishment of essential enterprises and technology that could not previously exist.

It can also incentivise venture participants to gain access to a global workforce to promote a project.

Ackman highlighted that appropriate regulation and oversight would be critical in moving the technology forward.

The hedge fund manager's tweet follows the [FTX crash](/news/article/gemini-crypto-exchange-falls-prey). According to sources, he congratulated former FTX CEO Sam Bankman-Fried for admitting his faults in a tweet but afterward deleted it.

In his post, [the investor](https://www.theblock.co/post/188684/bill-ackman-says-crypto-is-here-to-say-but-highlights-a-curious-use-case) used Helium, a blockchain-based network, as a favourable example of cryptocurrency.


Bill Ackman Bullish on Crypto

The [Metaverse buzz](/news/article/web3-games-raised-millions) has reached the Royals too. The latest Harry and Meghan news suggests that the royal couple is looking to jump on the [virtual land](/news/article/how-to-buy-metaverse-land) bandwagon. They are planning to invest in a new virtual world project. The idea is to connect with their millions of fans through this platform. 

In recent times, the former Duke and Duchess of Sussex have been quite active in the entertainment industry. Their appearances in podcasts and multi-million dollar deals with the firms like [Spotify](https://open.spotify.com/) and [Netflix ](https://www.netflix.com/)have made headlines. 

They will now be entering the Metaverse space as many other celebrities have. [Snoop Dogg](/news/article/snoop-dogg-nft-song), Justin Bieber, Paris Hilton, and numerous other big names have acquired land in the 3D immersive worlds.

## Harry and Meghan: Partnering up with Pax

[The Mirror](https://www.mirror.co.uk/news/royals/harry-meghan-plan-build-world-28499173) reported that the Royal couple is looking to work with the [Pax World](https://pax.world/). It is an award-winning firm that creates virtual experiences for its audience. Talks with the Pax World are in the advanced stages. Potentially, there can be a deal with the Royal partners' charity organisation, [Archewell](https://archewell.com/). 

The collaboration between these two organisations could result in 'Meg-averse'. Meghan Markle will be the leading force behind this project. The platform will allow her to hold business meetings and events and interact with her fans directly. This will also help build the global popularity of this power couple.

## Remarks from the founder of Pax

The founder of the Metaverse platform, Frank Fitzgerald, has shared his views on this partnership. He said his firm would offer the Duke and Duchess a plot at a prime location in their 3D universe.

He also mentioned that this land would allow them to work with top-rated architects to create innovative infrastructures. Through this platform, they can reach a wider global audience.


Harry and Meghan news: Couple entering Metaverse?

Olajide Olayinka Williams "JJ Olatunji", better known as KSI, is a British rapper and YouTuber. He began gaining followers in 2009 when he launched his youtube channel and began posting video commentary on the FIFA video game series. 

After 12 years, the 28-year-old artist now has over 37 million subscribers. He's been named to the Sunday Times' Top 100 UK Influencers' and Tubular Labs' 'UK's Most Influential YouTube Creators' lists, and his channels have received over 8.5 billion views.

## KSI NFT investments

KSI has joined the Bored Ape Yacht Club after purchasing a [Bored Ape](/news/article/bored-ape-nft) and kennel club dog.

In his [Twitter post](https://twitter.com/ksi/status/1429770910794403840?lang=en), he tweeted: " I've given in and bought an NFT. A Bored Ape Yacht Club"

![ksi 1.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/ksi_1_c44c15d60e.png)

KSI holds the Bored Ape #2105. The NFT is a five-trait, bored-looking, unshaven mouth, golden brown fur ape dressed in a prison jumpsuit. KSI purchased the NFT for 25.4169 ETH, or about USD 83,875.

The following day, he tweeted: "I've paid over $23000 for a glowing dog."

He also bought glowing dog #2144 from the Bored Ape Kennel Club. BAKC golden dog is a radioactive fur puppy wearing a purple headband and a BAYC life preserver.

![ksi 2.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/ksi_2_c16f5a1460.png)

## KSI crypto investments

The British rapper had a hard time with crypto. He lost around $2.8 million in the [Terra Luna crash](/news/article/terra-usd). The rapper claimed he purchased 100,000 Terra coins when the price dropped and had decided to hold them for a long time. But, with the [Luna crash](/news/article/terra-luna-collapse), he lost almost his entire value of his Luna investment. 

Before this, the rapper also claimed that he lost around 2 million pounds in crypto investments around Nov-Dec 2020, hoping to get good returns.

Crypto is a volatile space. It's always advised to conduct in-depth research before investing in the cryptocurrency market. 




KSI NFT and crypto investments

Shawn Corey Carter, better known as Jay Z, is a multi-platinum selling hip hop artist widely regarded as the most influential rapper. He is also considered an extremely successful businessman, having founded several multimillion-dollar corporations, including Rocawear, a clothing firm with more than $700 million in annual sales. He is known for collecting fine art and mentioned artists like Picasso in his songs.

## Jay Z's Cryptopunk Twitter profile picture

[Jay Z's Twitter profile picture](https://twitter.com/sc) has been changed to a CryptoPunk NFT that he bought from OpenSea for $126,000; the punk replicates his iconographic hair. 

![jay z 1.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/jay_z_1_b82cdaa19e.png)

Jay Z paid 55 ETH for one of the 10,000 CryptoPunks on April 25. This punk has an African American male wearing a gold chain, a feature that few punks have. His Twitter accounts profile picture changed on June 25.

## Jay Z drops his Reasonable Doubt as NFT.

Jay Z collaborated on creating an NFT with Derrick Adams, a multidisciplinary artist and professor at Brooklyn College. Adams' work takes many forms, including painting, collage, sculpture, performance, video, and sound installations. 

Derrick Adams designed an NFT celebrating Jay Z's debut album 'Reasonable Doubt' on its 25th anniversary. The NFT featured captivating imagery and animated elements and was sold at Sotheby's for $139,000. The physical artwork is also owned by Jay Z. A portion of the profit was donated to The Shawn Carter Foundation.

![jay z 2.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/jay_z_2_311b18b9ca.png)

Derrick Adams created the work in his fragmented style. He was able to animate certain aspects of the piece in the NFT version, such as creating a red glow for the cigar Jay Z is holding, making signature diamond jewellery sparkle, and manipulating the smoke from the cigar to transform into the number 25. The piece incorporates many elements from the original 'Reasonable Doubt' album cover. It also adds a unique twist with advanced animations.

Sotheby auctioned off the piece- one of the leading fine art auction houses, from June 29, 2021, to July 3, 2021, bidding starting at $1,000. The auction took place concurrently in the popular blockchain game-Decentraland's Voltaire Art District.

## Jay Z sued Damon Dash

Jay Z co-founded the record label Roc-A-Fella Records (RAF) with Damon Dash, an entrepreneur who has appeared in films and is a successful record executive.

Jay Z sued Damon Dash for attempting to sell the 'Reasonable Doubt' NFT. Damon Dash holds a small portion of the record label, and his lawyers have stated that he lacks the authority to sell a company asset unilaterally.

Damon Dash attempted to sell the NFT by partnering with the NFT marketplace platform SuperFarm. As a result, RAF lawyers advised SuperFarm to cancel the auction. According to the record label, Dash was still looking for alternative marketplaces to sell the NFT.

As of 2022, Damon Dash and Jay Z have decided to settle their legal cases. Dash is not allowed to "in any way dispose of any property interest in 'Reasonable Doubt,'" even though he is still allowed to sell his one-third ownership in Roc-A-Fella in the future.

## Influence of Jay Z in the NFT space

Jay Z is a well-known musician who has founded numerous profitable businesses. He is also regarded as a wise investor. He is one of the few pop culture figures indulging in the crypto industry. As time passes, more influencers, athletes, and musicians are entering the blockchain world.

Jay Z CryptoPunks Twitter profile photo's continued use is probably making many musicians wonder how NFTs can be applied to the music industry.

As an investor, he has made several significant pre-IPO investments, including Uber. More recently, he invested $19 million into Bitski, a platform for buying and selling NFTs through a secure wallet.

Bitski has the potential to be a powerful [NFT marketplace](/news/article/gamestop-nft-marketplace) for musicians and record labels looking to sell albums as NFTs. Bitski is also compatible with blockchain-based games. Other artists and musicians may get influenced by Jay Z NFT investments as he has proved himself to be a successful investor.




Jay Z invests in cryptopunk NFT and Bitski

[Kim Kardashian has been fined $1.26 million](https://www.forbes.com/sites/qai/2022/10/03/kim-kardashian-fined-for-cryptocurrency-promotion-heres-what-it-means-for-crypto/?sh=d7cef2e39356) by the US Securities and Exchange Commission (SEC) for not disclosing that she received payment for an ad about crypto token EthereumMax on her social media accounts.

This might indicate that the SEC plans to impose more restrictions on the cryptocurrency industry.
Unexpectedly, Kim Kardashian was penalised by the SEC for allegedly participating in this cryptocurrency "pump and dump" scheme. 

## Kim Kardashian barred from endorsing cryptocurrencies for three years

This became a legal issue because the Kim Kardashian crypto ad was a planned marketing strategy. One more surprising factor is that the lengthy list of influencers endorsing cryptocurrencies has been condensed.

Since it may cause additional problems for other celebrities who have supported cryptocurrency or wish to do so in the future, this story has attracted much media attention.

The $1.26 million amount accounts for the $250,000 she received for the marketing and interest and a $1 million penalty. She also consented to refrain from promoting cryptocurrency assets for three years while helping with the current inquiry. 

The crypto industry is facing a strong bear market. There is a fear that we could see more legal disputes and litigation in the future, ultimately leading to more blood baths in the crypto space.

## A long list of celebrities has faced similar controversies

[Elon Musk has been sued for $258 billion](/news/article/elon-musk-dogecoin) over allegations that he created a pyramid scheme to market Dogecoin. Also, Floyd Mayweather Jr. and DJ Khaled have been charged with promoting initial coin offerings (ICOs) without letting their followers know they had been paid to do so.

## What does this controversy mean for the Bitcoin and crypto industry?

The SEC released a video advising the public to exercise caution when following investment advice from well-known people and social media influencers.

Other celebrities and influencers could also avoid advertising ICOs due to the Kim Kardashian crypto ad controversy, which could somewhat mean lower exposure to new coins.

However, this news doesn't mean anything to Bitcoin prices and other crypto coins. But we could soon see more [regulations from the SEC](/news/article/us-sec-regulation).


Kim Kardashian Crypto Ad Controversy

With the upcoming [Web3](https://web3.foundation/) in development, the music industry has seen numerous technological advancements that have facilitated the widespread adoption of blockchain and NFTs. Over the past two years, many famous [musicians and artists](/news/article/snoop-dogg-nft-song) have supported and invested in NFTs. 

Web3 tools allow creators to grow an existing audience and turn it into a community. The ability to create communities around token holders has been the most common among the many use cases for nonfungible tokens (NFTs). 

Web3 platforms are still in their infancy. Most users are familiar with cryptocurrency and fundamentally understand how to communicate on-chain. Web3 music platforms have the potential to play a significant role in how labels, artists, and musicians conduct business and promote themselves as the industry matures.
The possibilities offered by this technology enable digital connections between people who share similar interests, eliminating any prior barriers to forming a community.

Music innovation gives up-and-coming musicians the chance to establish themselves and build community in the hyper-competitive niche of the music industry. This might lessen record labels' contribution to an artist's success. Many record labels are participating by shifting some operations onto the blockchain and releasing music NFT collections.

Successful Music NFT drops demonstrate how Web3 can upend the fundraising model by enabling artists to solicit funding directly from fans. The artists who put forth the most effort to interact with their fans and forge close bonds with them will gain the most from Web3.

## Music NFTs plays a critical role in transforming an audience into a community

An audience is someone who follows and supports their favoured musicians and artists, whereas a community is a group that promotes two-way communication between the artist and its fans. 

With digital advancements, artists are now focusing more on a community-driven approach. Blockchain and NFTs allow them to engage directly with their community.

Community activities have a more significant and immediate impact on an artist's growth. Artists have a solid foundation to build a career with the support of a strong community.

Clear communication and increased accessibility of [NFTs](/news/article/compass-nft) are the first steps in achieving this. Artist communities will ultimately be driven by NFTs and the model of content ownership because it forges a much deeper and more exclusive bond between fans and creators.

The artists willing to use every tool to create an active and interactive community around their work will be the most successful in today's market.


Music NFTs vital role in building a fans community

Wardell Stephen Curry II, born March 14, 1988, is an American professional basketball player for the Golden State Warriors in the National Basketball Association (NBA). He is widely regarded as one of the greatest basketball players of all time and the most excellent shooter in NBA history. He is credited with revolutionizing the sport by inspiring teams and players to shoot more three-pointers.

## Stephen Curry bought Bored Ape Yacht Club NFT

Stephen Curry recently paid 55 ETH ($180,000) for a [Bored Ape](/news/article/how-to-buy-monkey-nft) Yacht Club NFT.

His Bored Ape #7990 NFT depicts a blue-fur ape dressed in a brown tweed suit and sporting green zombie eyes. Currently, his (username SC30) Bored Ape is being bid on for 39.61 ETH ($125,700), significantly less than he paid.
 
## Stephen Curry's Partnership with Under Armour

Under Armour, a sportswear company based in the United States, has [announced](https://lab.currybrand.com/currycounter) that they will release NFTs to commemorate every three-point shot made by NBA star Stephen Curry during the current playoffs.

The Stephen Curry NFTs will be given out to fans on a first-come, first-served basis. It will include 'serums,’ kept in digital wallets that allow owners to customize their avatars' appearance.

For every three-pointer Curry makes in a playoff game, the most active Golden State Warriors fans can collect three free digital Basketballs. It will be released under the Curry Brand.

## How can a user get NFTs released by Under Armour?

Before proceeding to the 'Reserve an NF3 Basketball' option, fans must first link their MetaMask wallet to the website. When a Basketball is available for reservation, Steph's fans can click 'Agree to Terms & Conditions and then 'Reserve.'

Users must then scroll down to the 'NF3 Basketball Winners' section to determine whether or not they have successfully reserved a Basketball. After verification, they should scroll down to 'NF3 Counter' and select 'Claim' one hour after the game.

The reserve button will be activated when Curry makes a three-pointer in the Playoffs. Pressing Reserve does not guarantee NF3 Basketball. The first person to click 'Reserve' will secure an [NFT](/news/article/free-nfts), but they must pay the gas fee.
If a user has successfully reserved a Basketball NFT, they cannot book another one until the next game. 

## Stephen Curry 2974 NFT collection

Offered in collaboration with the 2974 Collection, this is a special "Birthday Game" 2974 Collection NFT commemorating Stephen Curry's impressive performance against the New York Knicks on March 14, 2015. Steph's 27th birthday also doubles as an invitation to his exclusive, upcoming birthday celebration, where, among other things, the winner will receive an opportunity to play basketball with the two-time NBA Most Valuable Player.

Curry's historic three-pointer inspired the development of his famous 2974 Collection, which was named one of five finalists in the NFT NYC Awards' Most Impactful for Charity category. It's worth noting that Curry donates 100% of the 2974 Collection NFT profits to charity, specifically his Foundation [eatlearnplay.org](https://www.eatlearnplay.org/).

This historic NFT is a thrilling remembrance of the future Hall of Famer and Golden State Warriors icon, appearing in his sixth NBA Finals since 2014-15.

Exclusive merchandise, game trivia giveaways, autographs, memorabilia, and more are available to all 2974 Collection NFT holders. Curry has also participated in video sessions on the Discord channel for the 2974 Collection.

Stephen Curry's involvement in the [NFT](/news/article/nft-land) market will make other sports professionals dive into this space. This would also encourage many different companies to embrace blockchain technology and launch new NFTs in partnership with other celebrities. 



Stephen Curry NFT involvements

The tech billionaire and the Bitcoin maximalist, Michael J. Saylor, have been charged for tax evasion. Karl Racine, District of Columbia Attorney General, has accused him of evading $25m in taxes. DC AG filed the charges on Wednesday, including the allegations against his company MicroStrategy.

Michael Saylor is an American entrepreneur who co-founded MicroStrategy and serves as its Executive Chairman. Moreover, he also has been a staunch advocate of Bitcoin, even during the [market downturn](/news/article/btc-markets-struggles).

## Allegations against Michael Saylor 

Racine filed the lawsuit in DC's Superior Court. According to the DC AG, the billionaire's company assisted him in evading taxes. That's why both Saylor and his firm are the defendants in the case. He further claimed that he has lived in the district for over a decade and has never fulfilled his tax obligations. 

![michael saylor.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/michael_saylor_67961312b7.png)
 
The charges also alleged that the person falsely claimed to reside in Florida, where income taxes are not applied. However, the tech entrepreneur has been in DC for more than ten years without paying dues. He has several properties in DC, including a Georgetown penthouse apartment and a yacht on the Georgetown waterfront. 

Besides, the AG is looking to recover over $100 million worth of taxes from the lawsuit. Moreover, the case used the accused billionaire's Facebook post as evidence that he has been residing in the district for years and was calling it 'home'.

## Michael Saylor resigned as CEO of MicroStrategy

Earlier, the tech entrepreneur resigned from his firm's CEO position. Now, he only serves as the Executive Chairman. As the CEO of the firm, he constantly pushed for Bitcoin. He also used more than $4 billion to strengthen the company's Bitcoin treasury. However, after the lawsuit, MicroStrategy saw a 10% downward trend in its shares. 



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