Crypto Celebrities, found online at CryptoCelebrities.co, is a platform that tokenizes and sells celebrities. Find out how it works today in our review.
What Is Crypto Celebrities?
Crypto Celebrities is a blockchain “game” where you can use Ethereum (ETH) to buy tokenized versions of famous people. The platform lets you buy everyone from Donald Trump to Vitalik Buterin to Emma Watson, for example. All of these celebrities – and many others – are available for trading on the Crypto Celebrities blockchain.
The website first appeared online in mid-January, 2018. In the first hours since launch, the game processed $1 million in total sales. Vitalik Buterin is already worth over $20,000 on the site.
How Does Crypto Celebrities Work?
To use Crypto Celebrities, you’ll need to add an extension to your wallet, load it up with ETH, then purchase any celebrity you can afford.
Here’s where things get interesting: if another user decides they would rather have that celebrity (there’s only one copy of each), then they can buy it at a higher cost, and the seller cannot refuse.
Contracts start at a price of about 10 cents. Today, celebrities like Satoshi Nakamoto are priced at around 13 ETH, or $13,000, on the platform after 32 transactions. Donald Trump is currently going for 11 ETH after 28 transactions.
Users can actually make money through the platform by buying the right celebrities early. The price doubles with each transaction, with users receiving the full value of the celebrity being traded. Here’s how it works:
“If you buy a contract for 0.2 ETH, another player can snatch it away from you. Once that happens, you’ll automatically receive 0.4 ETH! Most contracts double in price with each transaction until they reach 1 ETH. Price increase: 2x from 0 ETH to 0.05 ETH, 1.2x from 0.05 ETH to 0.5 ETH and 1.15x from 0.5 ETH up.”
Interestingly, Crypto Celebrities plans to charge royalties on all trades starting from March 2018. This could open the door to legal, celebrity endorsements for the platform.
Every time an ownership token is traded from one person to another on the Crypto Celebrities blockchain, a small portion of the transaction is taken as a commission fee. As the person whose image is traded – the celebrity – you can control where this fee ends up.
For example, you can choose to deposit the money into a digital wallet of your choice. Or, you can choose a list of charities and non-profits that accept cryptocurrency donations.
This could open the door to real celebrity endorsements on the platform.
At the time of writing, approximately 300 celebrities are available for sale on the Crypto Celebrities marketplace. Each celebrity is unique, and there’s only one of each celebrity. It’s like collecting baseball cards.
In addition to the celebs we mentioned above, other notable names on the platform include Elon Musk, Angelina Jolie, Adele, Kanye West, and Bill Murray.
In 24 hours since the game launched, users have performed a total of $1 million worth of transactions. The top 128 celebrity tokens on the website are currently worth about $300,000.
How To Play Crypto Celebrities
Here’s the basic process you’ll use to participate in Crypto Celebrities:
- Get a digital wallet and fill it with Ether (ETH)
- Choose a celebrity and buy their digital token, called a “Celebrity Smart Contract”; the starting price of any celebrity token is 0.0001 ETH
- Immediately after you buy the celebrity, the sales price doubles; if someone purchases your celebrity for that price, then you cannot refuse
Crypto Celebrities Conclusion
Ultimately, Crypto Celebrities is a brand new platform. The platform initially appeared online around January 20, 2018, and the site has crashed multiple time since launch.
In a world where Crypto Kitties is the most popular Ethereum game, a game like Crypto Celebrities seems inevitable. You can check it out today at CryptoCelebrities.co.