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

Best in Crypto Launches the Most Valuable and Comprehensive Industry Directory

Chicago, Oct. 1, 2022 – Best in Crypto enables crypto enthusiasts, investors, and entrepreneurs to explore and learn about beneficial crypto products and services. This...

US Lawmakers Prepare To Include Bitcoin In 401k Retirement Plans 

US lawmakers currently agreed to introduce crypto assets in the 401k retirement plan. The decision brought applause from the crypto community. Few opine that the...

Shemaroo Entertainment Will Now Offer Metaverse Cinema Experience 

Shemaroo Entertainment took the film fraternity and movie lovers by the awe with their announcement to open a metaverse theater in Decentraland. The company had...

A+E Networks Plans To Release History Channel NFT Collection

Over 25 glorious years of entertaining and educating people about varied historical facts and cultural moments, A+E networks now venture into web3. In an announcement,...

Stay Connected

1,021FansLike
302FollowersFollow
- Advertisement -

Similar articles

- Advertisement -
spot_img