Celebrities have been shilling NFTs for an uncomfortably long time now. From Kim Kardashian to Snoop Dogg, the A-List world is filled with NFT support. However, it looks like some of them have been doing so in an illegal manner.
A consumer watchdog group claims that at least 17 celebrities have been selling NFTs without proper legal disclosures. Will these celebrities face consequences?
These celebrities are in NFT trouble
A statement made by the nonprofit organization Truth in Advertising (TINA) claims that various celebrities have been sent letters for illegally shilling NFTs. Due to the nature of this advertising — which was once reserved for other types of MLMs — some of these celebs face legal repercussions.
These celebrities will need to show proof that they have a material connection to the endorsed NFT companies that they made an agreement with. As of this writing, none of the celebrities have publicly commented on the letters they received.
"If [these celebrities] have a material connection to the NFT companies they are promoting," TINA's statement reads, "that connection needs to be clearly and conspicuously disclosed in the endorsement as required by FTC law."
Some of the celebrities who were called out over these NFT crimes include Paris Hilton, DJ Khaled, Drake Bell, Eminem, Floyd Mayweather, and more. Justin Bieber and Reese Witherspoon supposedly wrote back to TINA, claiming that no wrongdoing was done on their parts.
Will anything happen to these NFT celebrity shills?
Considering how most governments haven’t really acknowledged the existence and legitimacy of NFTs, there’s a good chance that some of these celebrities won’t have any problems. The fact that Bieber and Witherspoon even responded back is something of a miracle in itself, if we’re being honest.
We assume that watchdog groups like TINA will continue to watch these celebrities and their involvement with NFTs. It would be great if these groups would make fewer celebrities get into the NFT craze but we doubt that will happen. Besides, the recent NFT crash is probably doing that already.