Music producer and social media star DJ Khaled is the latest celebrity to get involved with the industry of cryptocurrency.
Khaled recently appeared as a pitchman for a large initial coin offering or ICO as the business calls it. This method of fundraising has become extremely popular as companies have used it to sell tokens to raise capital for new ventures. Many are looking at the industry as a bubble that could soon pop, but it has helped to make a myriad of people very rich.
Khaled posted a picture on social media holding a silver payment card next to a bottle of Ciroc vodka. The caption on the picture stated that “I just received my titanium centra debit card. The Centra Card & Centra wallet app is the ultimate winner in cryptocurrency debit cards powered by CTR tokens.”
The chief operating officer at Centra Tech stated that Khaled has become their “official brand ambassador and managing partner.” The company is the same one that signed on pro boxer Floyd Mayweather who made several posts about the ICO this month alone.
Another post by Khaled stated in the captions that one should “Use your bitcoins, ethereum, and more cryptocurrencies in real time across the globe,” Khaled wrote. “This is a Game changer here. Get your CTR tokens now! #CryptoBilli #Bitcoin #Ethereum#Digitalcurrency”
The use of ICOs on the Ethereum network has helped to raise capital in a new way for companies that otherwise would not be able to. The ledger technology behind it that powers bitcoin as well is the breakthrough technology that has gotten so many people excited.
With many looking at the use of ICO’s and the big name celebrities getting involved as sketchy, it will be interesting to see where the market on cryptocurrency can go from here.