HomeLatest NewsJustin Bieber, Paris Hilton and 19 celebrities under scanner for NFT promotions 

Justin Bieber, Paris Hilton and 19 celebrities under scanner for NFT promotions 

The consumer advocacy organization Truth in Advertising (TINA.org) summoned Justin Bieber, Paris Hilton and 19 other celebrities associated with NFT promotions. As per reports, the firm found layers of deception in stars actively involved in non-fungible token projects, which they used to advertise on their social media platforms.   

This is perhaps a common tactic that creators and NFT sellers adopt to conduct celebrity endorsements to generate considerable hype about their projects. The consumer watchdog sent letters to the top actors and actresses on their hit list to disclose materials linked to NFTs they endorsed.   

The letter issued by TINA strictly warns celebrities that if they fail to reveal material links to promoted digital arts, it could majorly impact the public. Often brands take celebrities as mouthpieces for endorsing their digital works at high prices, which leads to losses for investors.   

Reply from Bieber’s team, and Witherspoon’s team denied any illegal or scam associated with the digital art pieces they promoted. Investigations have been carried out on 19 other celebrities, including Snoop Dog, Gwyneth Paltrow, and Eminem.   

The investigative organization even suspects the brand endorsers of violating FTC guidelines concerning the use of testimonials and endorsement in advertising. This is not the first incident whereby celebrities came under the scanner of investigation departments; earlier, Matt Damon made headlines for promoting crypto products.   

The SEC has warned celebrities and influencers using social media to encourage their followers to purchase stocks or other investments. They must disclose the source, nature and amount of any compensation paid directly or indirectly.  

Well, in such cases, the celebrities are not only to blame as they lack experience and proper knowledge of whether or not an investment scheme adheres to federal securities laws; they fall prey to such scams.   

Let’s wait for TINA’s full investigation into the matter; we hope the truth comes out soon.   

Sudeshna
Sudeshnahttps://thecryptonian.one/
As a passionate content writer, she is always eager to explore new topics. Through her blogs on cryptocurrencies, blockchain technology and non-fungible tokens (NFTs), she intends to help newbies gain a better understanding of the crypto world.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

LATEST POSTS

Madhubani NFTs – A tribute to traditional Indian Art

Madhubani NFTs is a unique collection of Non-Fungible Tokens (NFTs) created by DigiSmiths agency which highlights the rich cultural heritage of Madhubani art in India....

Pullman Hotels Supports Indigenous Female Artists Through NFT Exhibition 

Pullman Hotels, Australia's top hotel chain, has finally decided to dip its toes in the booming NFT market. They will soon launch Digital E/SCAPES, a...

McCain Foods Debuts Metaverse For A Sustainable Mission 

McCain Foods, the largest seller of ready-to-eat snacks, entered the growing world of the metaverse with a noble objective. The firm has initiated a #saveoursoil...

Chinese Couple Partnered With SriLankan Con Looted 1400 Crore In Crypto Scam 

Crypto scams are gradually gripping the emerging world of crypto and NFTs. In a cryptocurrency scam, a Chinese couple and a Sri Lankan con man...

Stay Connected

1,021FansLike
273FollowersFollow
- Advertisement -

Similar articles

- Advertisement -
spot_img