Former NBA player Baron Davis says the US Securities and Exchange Commission (SEC) is cracking down on celebrities and athletes promoting crypto projects, but there are bright spots for celebrities working with crypto. I believe.
In an appearance on CoinDesk TV on March 2, he said that celebrities will turn to projects that can give real utility and rewards to users.
Davis, a serial entrepreneur who played for seven NBA teams for 13 years, has turned his attention to blockchain technology and is building an NFT platform, SLiC Images, to manage the digital rights and database of sports photographers.
Lack of education and attention to detail may have been one of the reasons why some celebrities have never made it to the crypto world, he said. In October 2022, reality TV star Kim Kardashian was sued by the SEC for failing to disclose that he was receiving compensation and posting on SNS about EthereumMax’s EMAX token, and the settlement was $1.26 million. paid for.
Davis said celebrities and athletes need to do more due diligence.
“So mistakes happened. There wasn’t enough education. There was a lack of attention to detail,” Davis said, adding that celebrities and athletes need to do more due diligence.
｜Translation: coindesk JAPAN
｜Editing: Takayuki Masuda
| Image: CoinDesk TV
｜ Original: Former NBA Player Baron Davis Says Celebs Will Focus More on ‘Utility’ Tokens