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Famous People Case Study

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2.2.3 Famous Peoples’ Endorsement
This factor was chosen because just like all other products, famous people i.e., prominent superstars, the rich and famous endorse crypto currencies. They advertise crypto currencies or crypto currency management tools in their social media profiles and pages that drive their fans and followers to buy or invest that specific crypto currency or crypto currency tool, all in all, leading towards investing in that crypto currency.
Generally consumers have a specific brand for each type of product they use on a day to day basis, and it is highly driven by their celebrity crush or the rich and famous people they take as their idols. Crypto currency is no exception, a lot of famous people have endorsed crypto currency …show more content…

has signed sponsorship deal with the US crypto currency CashBet. The company will see the star team promoting their ICO (Initial Coin Offering) at the Emirates stadium that houses 60,000 seats (Anon, n.d.) The total worth of the deal is kept confidential, and this is the very first time that a sporting company has been sponsored by a crypto currency company. Experts and leaders have warned investors about the risk of investing in crypto currencies as a major number of investors are going to the ones who are supporters of the football club and an investor as well (Anon, n.d). In the ICO event, the company will accept crypto currencies such as Bitcoin and Ethereum in exchange for shares of the company (Anon, n.d.).
Including the above, there is a list of notable and famous people who have promoted and endorsed different crypto currencies, and have generated a lot of customers for those ones. This once again shows that a single endorsement of a famous person can turn bring about a tremendous wave of reaction, and this is exactly why different crypto currency firms are paying them a huge chunk of money to do so. The style that the companies use in making use of the celebrities’ social media platforms to promote their business is successful in attracting customers to their businesses. (Bakar, Desa and Mustafa,

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