Truth in Advertising (TINA.org), a watchdog organisation for consumers, has accused 19 celebrities, including Justin Bieber, of [NFTs promotions without declaring their affiliation](https://cointelegraph.com/news/19-celebrities-called-out-by-consumer-watchdog-group-for-shilling-nfts) with the projects.

On its website, the non-profit group has claimed to have looked into "celebrities that advocate non-fungible tokens (NFTs) on their social media platforms" and discovered that "it is a sector replete with fraud."

The celebrities include Justin Bieber, Floyd Mayweather, Tom Brady, Eminem, Snoop Dog, and Gwyneth Paltrow. All of the celebrities have received letters requesting that they immediately disclose any material connections they may have with NFT companies or brands they have promoted.

While no legal penalties have been imposed, the non-profit organisation stated that it sent letters to the celebrities involved, detailing their objections and informing them of the harmful effect shilling NFTs may have on the public.

One of the key concerns expressed by the group in the letters is that the potential financial risks connected with investing in such speculative digital assets are not acknowledged.

TINA.org addressed letters to the legal teams of Reese Witherspoon and Justin Bieber for NFT promotion on their social media profiles without revealing their affiliation to the initiatives.

Bieber's legal team responded, denying any wrongdoing but indicating that the posts would be corrected.

Witherspoon's legal team approached TINA.org, stating that the actress is not materially benefitting in any way from promoting the NFTs in question.

## TINA.org highlights FTC guidelines

According to TINA.org, the above-stated celebrities could violate the Federal Trade Commission's (FTC) guidelines on using endorsements and testimonials in Advertising.

The advocacy organisation refers to the FTC website, which states that influencers must disclose any substantial ties to the products they promote. The disclosures must be clear, straightforward, noticeable, and contained within the endorsement.

So far, there hasn't been a publicised example of a celebrity incurring legal consequences for promoting NFTs or cryptocurrency.

Several class action lawsuits are pending, most notably against [Elon Musk for supporting Dogecoin](/news/article/elon-musk-dogecoin) and Mark Cuban for promoting crypto offerings and services by Voyager.



Criticism of Justin Bieber NFT promotions

Scammers are at it again with Bitcoin. This time, another bogus celebrity endorsement is being used to trick unsuspecting members of the public into joining up for various Bitcoin trading sites. This time it is the [Ant McPartlin Bitcoin scam](https://www.economywatch.com/bitcoin-robot/ant-mcpartlin-bitcoin).

In this article, we look at a con involving Ant McPartlin's name and analyse whether the TV star ever actually got involved in Bitcoin Revolution, a BTC auto-trading business.

## Who is Ant McPartlin?

Anthony David "Ant" McPartlin is a British television producer, rapper, singer, comedian, actor, and TV presenter born in Newcastle upon Tyne in 1975. Because of his talent, he has a large following that extends beyond the United Kingdom.
McPartlin is well-known for his work as a co-presenter with Declan Donnelly, known colloquially as Ant and Dec.

McPartlin has garnered honours for his outstanding contribution to the media business, including the British Academy Television Awards: Entertainment Programme (Ant & Dec's Saturday Night Takeaway) and the British Academy Television Awards: Live Event (The Queen's 90th Birthday Celebration).

## What is Bitcoin Revolution?

[Bitcoin Revolution](/news/article/bitcoin-revolution) is an automated Bitcoin trading system designed to improve the trading experience of investors with limited capital, time, and trading skills. The platform includes a robot that manages the whole trading process on behalf of the account user, automatically executing buys, holds, and sells with minimum input from the investor.

After registering on the platform, users must make an initial payment of at least £200.

Bitcoin Revolution is a built-in algorithm that claims to deliver more than 99% accuracy on all trades, allowing investors to earn up to 20% daily returns on their money.

## Ant McPartlin Bitcoin Scam?

The question is, did McPartlin endorse Bitcoin Revolution?

McPartlin has denied any support for a Bitcoin trading platform. He has claimed that he has no intention of investing in Bitcoin or its trading bots.

As we investigated, we found no direct or indirect postings on Ant's social media to indicate that he had adopted the trading platform.

McPartlin is one of many celebrities whose accounts have been phished by Bitcoin fraudsters.

An “audience seeker” storyline is always popular, especially when it involves renowned people. In this example, bogus news sites and gossip blogs have fueled media coverage of the entire event, primarily to gain click-through and registration commissions from the traders involved.

Fake trading sites were involved in advertisements and other media promotion of the supposed endorsement, causing naive investors to lose money.

Because neither McPartlin nor Bitcoin Revolution confirmed the endorsement story, it was assumed that a bunch of avaricious internet marketers staged the entire affair.

## Is Bitcoin Revolution a Ponzi Scheme?

This is a common question among cryptocurrency aficionados right now. Should I put my funds on the platform?
I say not. Unless you can verify the legitimacy of any trading platform for yourself, you should retain your money in your bank account.
 



Ant McPartlin Bitcoin Scam Explained

Have you heard about the [BTC Profit](https://btcprofit.com/) trading bot and wondered if you could make huge returns?
The idea that anyone can easily make money in the crypto space has led to the rise of crypto trading bots. 

With a crypto trading bot, crypto traders can begin earning from their crypto holdings easily, regardless of their expertise level.

Or so it is claimed. But are the bots legit?

This article reviews one popular crypto trading bot, BTC Profit, also referred to as Bitcoin Profit.

## What is BTC Profit?

This is an automated crypto trading bot built and designed to ease the struggle of crypto trading. The Bitcoin Profit bot uses an AI algorithm to identify trading opportunities in the crypto market and act on them on users’ behalf. It can automatically open and close trades on users’ trading accounts, eliminating the need for constant manual intervention from traders.

Due to automation, BTC Profit can trade 24/7 across more than a dozen cryptocurrencies. According to the crypto trading platform, around 85% of its trades close for a profit under normal market conditions. Users don't have to worry about service fees as the platform does not charge any.

Bitcoin Profit only requires users to deposit a minimum of $250 to start using it. It even eases the worry of people with a demo account. The demo account enables users to test the bot's capabilities before beginning to use deposited funds to trade.

## How does BTC Profit work?

Bitcoin Profit uses a sophisticated AI algorithm that has been trained on years’ worth of cryptocurrency market data to identify and execute crypto trades. The bot can easily monitor price changes and spot price patterns that are likely to precede a directional movement.

Once BTC Profit spots a pattern, it opens a trade on a user's behalf. It will then continue to monitor the development of the trade and exit when the signal fades or a profit target is reached. Funds and profits will then be returned to a user's account.

## Pros and cons of BTC Profit

Pros
•	24/7 automated crypto trading
•	No service fees
•	85% success rate, according to Bitcoin Profit

Cons
•	Requires a minimum deposit of $250

## Is Bitcoin Profit Legit or a Scam?

Over the years, many crypto trading bots and platforms have been revealed to be scams, which is why vigilance is necessary when looking to use a trading bot for crypto trading.

## Signs Bitcoin Profit might be a scam

•	85% success rate claim
Bitcoin Profit's 85% success rate claim is one clear red flag. The crypto market is one of the most volatile markets in existence. The market does not guarantee profits. Anyone, whatever technology they are using, can easily lose or earn money from the crypto market.

•	Negative reviews
Bitcoin Profit continues to get many negative reviews from reputable reviewers and users worldwide. The platform markets itself as a reputable crypto trading platform with plenty of positive reviews and testimonials to support its claims. However, many of the positive reviews have been exposed to be fake. Using fake testimonials and reviews is another reason to think twice about using the platform.

•	Fake endorsements
Bitcoin Profit has been accused of and exposed for using images and names of influential individuals for marketing purposes. Some big names that have been used to entice unknowing individuals into using the BTC Profit platform include Jim Davidson, Conor McGregor, Elon Musk, Gordon Ramsey, and Piers Morgan, among others.

## Final Thoughts

Bitcoin Profit easily appears as a legit crypto trading platform. The benefits that come with using the trading bot can easily entice anyone looking to venture into crypto trading with zero trading skills.

The platform promises to generate big rewards using small amounts of money. You only need a minimum of $250 to start using the platform and enjoy great rewards. It is also absolutely free to use as there are no service fees. The best part is that it enables anyone, regardless of their crypto trading expertise, to start earning from crypto trading.

The advantages are great.

However, the signs are there that the BTC Profit platform might equally be a raw deal. The 85% success rate claim, negative reviews, and use of fake endorsements all indicate the platform could be a scam.

Before you consider using this trading bot, do your research.


BTC Profit: Everything You Should Know

So, it's been a year in the life of [Bored Ape NFT](https://boredapeyachtclub.com/#/).

Bored Ape Yacht Club celebrated its first anniversary with close to $2 billion in sales volume as of the end of April 2022.
This places Bored Ape NFT in third place behind CryptoPunks and Axie Infinity in the all-time rankings in terms of volume.  

Bored Apes became a mainstay in the non-fungible token (NFT) space in 2021 after its launch in April of that year. The Bored Ape Yacht Club contributed substantially to the more than $25 billion spent on NFTs in 2021.

Although millions of people have heard about a digital collectible called BAYC NFT, only a fraction could describe what non-fungible tokens entail.

Yet, if there is a single brand that exposed NFTs to millions of decentralized finance fans and blockchain enthusiasts, it was the Bored Ape Yacht Club. The impact of Ape NFTs on the market has seen numerous celebrities use some of the unique collectibles as their profile picture.

Among them are footballer Neymar JR., comedian Jimmy Fallon, rappers Eminem and Timbaland, and socialite Paris Hilton.

## Why Are There 10,000 Bored Apes?

The Bored Ape Yacht Club was created by Yuga Labs and comprises 10,000 unique collectibles. In the non-fungible token world, like the real world, there are several art forms. Among others, there are one-off visuals and NFT collections that come in limited numbers.

A great example of a one-off visual can be attributed to Beeple’s NFT called The First 5000 Days, which sold for $69.3 million at Christie’s auction house in New York.

On the other hand, digital collection is what you are experiencing with BAYC, CryptoPunks, and NBA Top Shots, among others.
Instead of making a generic image of a bored ape that could be sold at the same price to millions of people, Yuga Labs decided to take a different approach.

Their strategy was to make 10,000 apes with the same template, but each Ape NFT comes with different attributes that confer uniqueness.
In the Bored Ape Yacht Club, each Bored Ape has unique clothes, fur, facial expression, and accessories.

This fell in line with one of the four attributes of NFTs, which is indestructibility. The data of all 10,000 NFT bored apes are stored on the [Ethereum](/coins/eth) blockchain. Each token cannot be removed, destroyed, and, more importantly, replicated.

Out of the 10,000, 46 bored apes came with solid gold fur. Since they remain virtual assets, Bored Apes with solid gold furs are more expensive than Ape NFTs with little to no accessories.

Aside from Axie Infinity, BAYC NFTs has given competition to the World of Women, Art Blocks, Azuki, CloneX, Moonbirds, the Sandbox, Cool Cats, Meebits, Farmers World, and Adidas Originals.

## What Makes Bored Ape Yacht Club Valuable? 

Six attributes confer value on a crypto token in the crypto finance space. They are scarcity, utility, transferability, non-counterfeitability, divisibility, and durability.

Aside from the indestructible attribute earlier pointed out, non-fungibles are indivisible, verifiable, and non-interoperable.

This takes divisibility out of the attributes that confer value to the Bored Ape NFTs, since one Bored Ape is a whole item that cannot be interchanged or divided. Analyst Ollie Leech of Yahoo Finance believes NFTs exist exclusively as whole items.

After being launched in April 2021, all 10,000 bored apes sold out at a price per ape of $190, which was around 0.08 ETH within 12 hours. By the close of July 2021, a single Bored Ape was exchanging hands at $17,334.

Bored Apes ended the third quarter of 2021 with a price of $107,726. In five months, Bored Ape NFT price increased by 56,597.9%.

Bored Ape NFTs' price in the opening days of October 2021 was $122,113, reaching a quarterly high of $306,219 on December 30, and closing the last quarter of the year at $178,660.

There was a 46% increase between BAYC’s opening and closing price in the fourth quarter of 2021.

Overall, there was a 93,931.6% spike in bored ape price from April to December 2021.

With that said, what makes a digital collection successful is subjective. Utility, community appeal, celebrity involvement/influencer, and mainstream potential are factors that have conferred value on Bored Ape NFT.

## Utility

Although several NFT projects claim to offer utility of some sort, most of them do not.

When ApeCoin launched on March 17, 2022, the ApeCoin Foundation linked APE to the Bored Ape Yacht Club and its sister project, the Mutant Ape Yacht Club (MAYC) NFT projects.

Till mid-June 2022, the ApeCoin airdrop remains active.

Holders of the BAYC and MAYC stand a chance of earning free APEs. Bored Ape Yacht Club holders are eligible to claim up to 10,950 APE, while Mutant Ape Yacht Club holders can claim up to 2,042 APE. Overall, 150 million APEs will be airdropped.

This has largely contributed to the soaring Bored Ape Yacht Club NFT price in 2022.

After opening at $183,276 on January 1, a single Bored Ape NFT exchanged hands for $351,561. There was a 91% between ape NFTs' opening and closing price in the first quarter of 2022.

Bored Ape traded for $373,399 in the early days of April and closed the month exchanging hands for $382,423.

Bored Apes reached such valuation due to conferring eligibility on holders to earn free ApeCoins.

Bored Ape Yacht Clubs utility (medium of exchange) or transactional currency comes with APE.

APE can be used as a payment method on the crypto casino BC.GAME. People who enjoy gambling with cryptocurrency can use their APE on their crypto wallets without any extensive verification process from traditional financial institutions. Aside from this, APE can be used to pay for digital subscriptions by TIME magazine.

Moreover, APEs can be earned through the play-to-earn game Benji Bananas.

More importantly, APEs attribute as a utility token will soar as it is the primary currency that will be overseeing all transactions on the metaverse called Otherside.

## Celebrity Involvement/Influencers 

Celebrities have millions of followers across several social media channels. Most of them throw their weight behind projects deemed credible by the major players in the crypto finance space. With Bored Ape Yacht Club, celebrities such as NBA star Stephen Curry, musician Justin Bieber, and other stars have purchased Bored Ape NFT. Some have gone public about it. Once millions of people see the mileage BAYC is garnering in the traditional news media and social media circles online, the resultant effect will be an ascension in the price of the digital collectible.

## Community Involvement 

The ApeCoin Community is one of the most vibrant communities in the space. ApeCoin has channels across Twitter, Facebook, Reddit, Instagram, Telegram, and Discord.

Discord and Telegram are used to promote events such as airdrops, the launch of the metaverse, and news of acquisitions made by Yuga Labs.

Bitcoin would not have survived for 13 years without its community. Dogecoin (DOGE) and Shiba Inu (SHIB) would have become relevant were it not for the impact of Dogecoin and Shiba Inu Army. In the same way, conversations about the Bored Ape Yacht Club project have played a substantial role in each collectible becoming more expensive daily.

## Mainstream Potential 

There are more than 100 NFT projects in the space.

What’s more, as of May 1, 2022, there are more than 19,000 crypto projects in circulation.

If the Bored Ape Yacht Club NFT distribution of 10,000 APEs was not of top-notch quality, the project would have headed into extinction zones, as others have done.

All 10,000 bored apes are unique, poke fun at NFT lovers, and attract buyers.

In April 2021, there were 141 unique buyers, and sales were in the region of $37,556.

When the financial markets reached their peak in May 2021, which saw several coins such as Ether (ETH) and Internet Computer (ICP) reach new all-time highs, the number of unique buyers increased. In May 2021, there were 3,548 unique buyers, and sales were around $17 million. In 2021, Bored Ape Yacht Club's sales volume peaked at $297 million in August, as per data retrieved from CryptoSlam.

As investors rely on past data to make projections about the future sales patterns of digital assets and collectibles, the potency of the project has seen soaring volumes in 2022.

In January 2022, Bored Ape Yacht Club's sales volume was approximately $339 million.

Overall, BAYC's sales volume in the first fourth months of 2022 was $957 million.

With these statistics in mind, it would be extremely easy for a holder to sell a bored ape NFT for more than $400,000.

It would also be easy for a prospective buyer to purchase one NFT bored ape for more than $400,000 since it could be resold for twice that amount within a short period.

## Who are the major players behind the Bored Ape Yacht Club? 

Yuga Labs is the team behind bored ape NFTs. Copying the pseudonymous nature of the crypto stratosphere, the four players behind the project go by unidentifiable names.

They are Gargamel, Gordon Goner, Emperor Tomato Ketchup, and No Sass.

Yuga Labs is also the company behind the Mutant Ape Yacht Club and acquired CryptoPunks in March 2022.

In addition to this, Yuga Labs created the ApeCoin ecosystem.

The ApeCoin Foundation has representatives from cryptocurrency exchange FTX, blockchain-based technology company Horizen Labs, and social media platform Reddit.

They will contribute to the sustainability of the ApeCoin project.
 
## What’s next for the Bored Ape Yacht Club? 

On Saturday, April 30, 2022, the Bored Ape Yacht Club team launched a new NFT collection which crushed the blockchain technology of Ethereum.

This collection was part of Bored Ape’s metaverse launch called Otherside.

The NFT collection comprised 100,000 land deeds specifically designed for the virtual world.

With the project's popularity, demand for a share of these land deeds exceeded supply.

With Ethereum still in the process of making a successful transition from proof-of-work (POW) to proof-of-stake (POS), the network could not handle the load.

As a result, the gas fees, which reached new high lows in 2022 thanks to the EIP-1559 upgrade (London Hard Fork), skyrocketed to record highs. Many users paid thousands of dollars in fees, but their transactions could not go through.

The NFT distribution came in two waves. The first 100,000 lands were sold to new users and some of them were airdropped to holders of BAYC and MAYC.

The other 100,000 lands would be given to users who would make effective contributions to the development of the Otherside.

Concerning the first 100,000 lands, 30,000 were airdropped, and 70,000 plots were sold to new and existing holders of BAYC and MAYC.

For starters, each plot of land cost $5,846, which was the equivalent of 305 APE at the time of sale. The 70,000 lands sold within a few hours and netted Yuga Labs about $420 million, which will be reinvested into expanding the ApeCoin ecosystem.

Like BAYC, Otherside land price has skyrocketed from more than $5,000 to over $20,000 in May 2022.

## Conclusion 

Is now the time to consider becoming a Bored Ape NFT holder? Although the BAYC digital collectibles started small, it has brought in more than $1.9 billion in sales.

There are more than 300 unique buyers monthly, and the average sale value has soared from $213.39 in April 2021 to $308,497 in the same period in 2022.

Being a BAYC holder makes you eligible for ApeCoins and plots of land that could sell for thousands of dollars.
There are many ways of taking a stake in the bored Apes project.

If you cannot afford one BAYC or a plot of land on the metaverse, perhaps you could consider investing in ApeCoin.

The token trades below $50 and with the expansion of the ApeCoin ecosystem, the token could reach new milestones and bring you enormous returns in the short, medium, or long term.
 
 
 
 
 
 
 
 
 
 
 



Bored Ape NFT: A Year in the Life

If you want to know the best cryptocurrency to invest in, should you really ask a celebrity?

The popularity of cryptocurrencies has seen many celebrities embrace them. Some celebrities choose only to promote the coins, while others have taken the bold step of investing in the coins.

Matt Damon, Reese Witherspoon, and Kim Kardashian are a few celebrities promoting different cryptocurrencies. Floyd Mayweather, Kanye West, and Paris Hilton are some celebrities who have already invested in various cryptocurrencies.

## Celebrities in the Crypto Market

Celebrities, like everyone, are allowed to invest in whichever asset they wish. However, their involvement in the crypto space has solicited different reactions from different people.

Some people believe celebrities’ involvement in the crypto market is good. They can help grow the market by influencing people to join it. 

Other people look at celebrities in the crypto space as bad, especially those only promoting the coins and not investing in them.

Using their popularity and influence, celebs and social media influencers can easily mislead their fans into investing in the wrong cryptocurrency.

For example, [according to a lawsuit filed in California](https://www.cbsnews.com/news/cryptocurrency-kim-kardashian-celebrity-pump-dump-lawsuit/#:~:text=Celebrities%20Kim%20Kardashian%2C%20former%20NBA%20star%20Paul%20Pierce,for%20themselves%2C%20a%20lawsuit%20filed%20in%20California%20alleges.), Kim Kardashian, Floyd Mayweather, and former NBA star Paul Piece are celebrities accused of using their fame to promote a little-known cryptocurrency called EthereumMax as part of a large scheme to defraud investors while profiting.

## Celebrities Influencing Crypto Investment

Elon Musk is known for influencing the crypto market with a single tweet. He is best known for influencing the price movements of [Dogecoin](/coins/doge) and [Bitcoin](/coins/btc).

He tweeted on February 4, 2021: "Dogecoin is the people's crypto". The tweet increased Dogecoin's price by 10% within an hour and 50% within a day.

On April 28, 2021, Elon tweeted: "The Dogefather." The tweet, alongside the endorsement of billionaire investor Mark Cuban, increased Dogecoin prices by 30%.

In the case of Bitcoin, in March 2021, Elon tweeted: "You can now buy a Tesla with Bitcoin". The tweet enabled Bitcoin to reach nearly $65,000 within a month. In June 2021, Elon tweeted that he had fallen out of love with Bitcoin. The tweet sent Bitcoin price plummeting by 4%.

Even in 2022, Elon Musk's tweets continue to affect the crypto market. Because of his influence, many people await his tweets to make crypto investment moves.

Gwyneth Paltrow, Paris Hilton, Mike Tyson, and Tom Brady are other celebrities who have tweeted promoting various cryptocurrencies.

## Fake Celebrity Endorsement

Scammers have also taken advantage of the increase of celebrities in the crypto market. Some scammers use celebrity images and names to promote fake coins to unsuspecting people.

Before clicking on that pop-up ad, it's always best to do further research to know if the celebrity on the ad promotes the cryptocurrency or crypto platform.

Facebook is currently in trouble for allowing fake celebrity endorsement posts using pictures of TV stars to promote crypto scams. A lawsuit against Meta, Facebook's parent company, claims the company was aware of the fake ads but didn't take any action.

## Conclusion

Celebrity involvement in the crypto space has its pros and cons. However, a celebrity endorsement of a particular cryptocurrency should never be why you invest in the coin. The best cryptocurrency for you to choose to invest in is one you've researched and are confident about.
 
 
 
 
 



Best Cryptocurrency to Invest In?

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