Barcelona Soccer Star Lionel Messi Backs World’s First Blockchain Smartphone “Finney”
The world’s pioneering blockchain smartphone will have Lionel Messi, arguably the best footballer of all time, as its brand ambassador. The phone is a product of SIRIN LABS, a blockchain company that operates out of Israel and Switzerland. SIRIN LABS uses blockchain technology to offer multi-layer cybersecurity solutions.
The smartphone, called Finney, runs on a modified version of the Android operating system known as Sirin OS. In addition to the underlying blockchain technology, the Finney smartphone will have a cold storage cryptocurrency wallet in which users can store their digital assets. Moreover, there is an inbuilt Sirin app store that has an array of decentralized applications. For instance, there is a DApp that allows users to get tokens in exchange for mobile data or battery power.
The Finney is scheduled to launch officially on November 29. The phone is expected to cost $1,000. Besides Finney, SIRIN LABS have previously developed another smartphone called Solarin. The phone, which was hailed as the most secure mobile in 2016, was priced at $16,000. Like the Finney, Solarin was also endorsed by celebrities such as Tom Hardy and Leonardo DiCaprio.
Impact Of Celebrity Endorsement On Blockchain Projects
The affiliation with Messi is expected to have a huge impact on the popularity of this phone. Messi, who has over 90 million followers on Facebook, is a global figure that is likely to capture the attention of the masses, including those who are not yet investors in the crypto space. Nonetheless, celebrity marketing does not guarantee success for blockchain projects.
Last year, Floyd Mayweather, a prominent boxing superstar, endorsed the initial coin offering of Centra Coin. The coin is now defunct. The project formed itself as a gateway to enable users to spend cryptos using conventional MasterCard and Visa debit cards. Before its closure by US authorities, Centra Coin had raised $32 million. In this case, Mayweather was used by the project as a prop for legitimacy.
In another instance, John McAfee, the founder of the McAfee antivirus, confessed that he charged as much $100,000 to endorse ICO events through his popular Twitter account. Due to his influence, John motivated unknowing individuals to invest in several projects, some of which turned out to be shams.
Given the murky history of blockchain projects endorsed by prominent personalities, SIRIN LABS stated that Messi only associates with legitimate ventures.
Increasing Mass Adoption
The impending launch of a blockchain-based product such as Finney is an indicator that mass adoption is ongoing despite the appalling performance of cryptocurrencies in 2018. In fact, blockchain ventures are introducing new solutions across various sectors on a regular basis. This means that the technology is here to stay. However, the presence of numerous options can potentially slow down the mainstream adoption of this technology.
The SIRIN LABS token sale performed remarkably well, attaining a whopping $110 million within 24 hours of its lunch. Eventually, the token sale generated $158 million. However, the SRN token has plunged massively in 2018, dropping from a record high market cap value of $320 million to a paltry $18 million.