Stock Groups

Floyd Mayweather Gets His Name Tokenized in Diamond -Breaking

by Mike Robinson

[ad_1]

Floyd Mayweather’s Name Indicated in Diamond
  • Floyd Mayweather, the famous boxer, is encouraging a social-app marketplace.
  • Prior to his fight with Logan Paul, Mayweather had promoted EthereumMAX.

Floyd Mayeather looks for opportunities to make money. Companies and brands can use influencers who have a huge following to market their products, particularly in the cryptocurrency space. Mayweather tweeted that he is supporting another cryptocurrency platform.

Mayweather gets tokenized

Mayweather tweeted that his followers can “can invest in $floydmayweather”, his own token, for the first time. But, the tweet is about Diamond, and it offers users $25 as a sign-up bonus. His followers, however, are suspicious and claim that the platform is a scam.

This platform is built using the DeSo decentralised social blockchain. This platform is home to personalities like Justin Sun or Pamela Anderson. It allows creators of social tokens as NFTs to interact with their followers and create their own.

Diamond is a combination of DeFi as well as social networking platforms. The platform’s headline indicates that users can “invest in creators like never before.” Additionally, creators use a referral system to earn a percentage each time their token is bought and gain royalties from each NFT.

The concept of social tokens is not new. It aims to disrupt an unmonetized marketplace by valuing creators’ social influence through tokenization.

To The Flipside

  • Mayweather faced an investigation in 2018 after he failed to reveal that he was being paid to promote cryptocurrency.

Too good to be true.

Influencers have the power to change people’s attitudes and behaviors through social media. Every social action taken by established people like Floyd Mayweather can make cryptocurrencies vulnerable.

Influencers promoting crypto is a “moral disaster” because it takes advantage of their followers’ naivety. Influencers that promote crypto have been called out and others even under investigation by the SEC.

The hype over EtheruemMAX reached new highs after the likes of Kim Kardashian and Floyd Mayweather promoted the coin while stating, “this is not financial advice.” Moreover, EthereumMAX was advertised during the 2021 boxing match between Mayweather and Logan Paul.

What Are You Responsible For?

Influencers may promote any product if paid the appropriate amount regardless of whether it will be financially harmful to their followers.

EMAIL NEWSLETTER

You can also join the crypto-verse

Upgrade your inbox and get our DailyCoin editors’ picks 1x a week delivered straight to your inbox.

[contact-form-7]
It takes just 1 click to unsubscribe.

Continue reading on DailyCoin

Disclaimer Fusion MediaWe remind you that this site does not contain accurate or real-time data. CFDs include stocks, indexes and futures. Prices are provided not by the exchanges. Market makers provide them. Therefore, prices can be inaccurate and differ from actual market prices. These prices should not be used for trading. Fusion Media does not accept any liability for trade losses you may incur due to the use of these data.

Fusion MediaFusion Media or any other person involved in the website will not be held responsible for any loss or damage resulting from relying on data including charts, buy/sell signals, and quotes. You should be aware of all the potential risks and expenses associated with trading in the financial market. It is among the most dangerous investment types.



[ad_2]