The crypto world is decentralised such that it has no single authority determining its market supply and value. It all depends on the market factors to derive the value. The demand is affected by various factors like current trends and news, development plans and celebrity endorsement. This has made several projects looking for market traction to look for celebrities.
Ethereum max is the latest of the new crypto projects looking to have a team of celebrities endorse it to gain users. One of the most iconic personalities to have talked about it is Kim Kardashian. The TV personality, model, socialite and businesswoman posted about Ethereum on her Instagram timeline. With over 280 million followers, Kim K has one of the biggest reaches on social media.
This crypto project has also had shoutouts from other stars like the NBA great Paul Pierce and the undefeated boxer Floyd Mayweather. In fact, there were reports the crypto had sponsored the fight between Floyd Mayweather and Logan Paul. It was the only crypto allowed for purchasing the online tickets of the pay-per-view fight.
After drawing such high profile personalities’ attention, you might be wondering what exactly is the Ethereum max.
What is Ethereum Max?
Ethereum max is one of the newest crypto projects. It was launched in mid-2021 and currently has over 109k token holders. According to the project’s website, it is an ERC-20 token running on the Ethereum network. Therefore, it is neither an upgrade, fork, or competition to the ETH. Instead, it only relies on the Ethereum network as it supports the development of decentralised applications (Dapps).
As a relatively new crypto project, everything about the token is not yet clear. There is still more information that should be added to the website for more clarity. At the moment, it has little information on “tokenomics” and the community revolving around the project. It also mentions a yet to be launched Non-fungible token (NFT).
The current market value of Ethereum max is $0.00000000318 with a market supply of 2,000,000,000,000,000. It has no undefined market cap. The low values can be due to the high market supply and the fact that it’s still new in the crypto market.
What has Kim K got to do with Ethereum Max?
Of all the crypto projects, you might be wondering why Kim K had to post only about the Ethereum max. Well, from the post it is clear that she was paid to do the marketing. She declared on part of it that it was a paid ad. The Securities and Exchange Commission requires social media influencers to disclose any cases of paid partnerships for the cryptos.
Even though there is no concrete figure on how much Kim K was paid for the post, she generally charges $300,000 to $500,0000 or even more depending on the product. There is also the likelihood that the other celebrities promoting the token like Mayweather and Pierce have been paid as well.
Even after top marketing, the coin has struggled to gain much value. However, only time will tell how much it can grow, or even if it will prosper to become a mainstream crypto like Bitcoin and Ethereum.