The crypto world has seen some turbulent times lately, with many popular coins losing a ton of value, and a lot of people coming to the conclusion that NFTs might actually just be a giant scam to get people to pay for proof that they own jpegs. There have also been a number of celebrities who have endorsed dubious cryptocurrencies, only to have the value drop through the floor soon after their fans were encouraged to purchase them. Despite Kim Kardashian’s recent issues with promoting questionable crypto assets, the Kardashians plan to launch a new cryptocurrency of their own.
Kim Kardashian has made headlines recently for making a post about a cryptocurrency that resulted in her having to pay a $1.2 million fine to the SEC. Instead of keeping their distance from the crypto space for a while, the family that is famous for being famous has decided that there’s no such thing as bad press, and are forging ahead with their own plans for a Kardashian branded cryptocurrency of their own. With so many other questionable startups being founded lately, this is par for the course in the current startup landscape.
The new crypto coin, planned to be simply called Koin, has apparently been in the works for some time. The family plans to sell all kinds of exclusive promotions that can only be purchased using their new currency, including cosmetics, rare pictures of the Kardashian clan, shapewear, and even their own line of plastic surgery procedures. Given the success of just about everything else the Kardashians have done, we expect their new cryptocurrency to be a smash success.
Since the promotion of low quality crypto assets has become such an issue for celebrities online, it is fair to wonder how much long-term tangible value the new Kardashian Koin will offer. At the same time, the bar is pretty low in the crypto space at the moment. With stablecoins and alt-coins alike crashing in the past several months, if the Kardashians can introduce even a moderately popular and stable cryptocurrency then they might qualify as one of the more popular crypto projects around.
This could even be the first step for celebrities like the Kardashians starting their own societies, complete with their own currencies, laws, and socio-political borders to rival existing nation states. Given the rampant corruption, ineptitude, and general global failure of various countries, it’s not a huge stretch to think that the Kardashians could do better in a lot of ways.