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Celebrities Promoting NFTs

TINA.org investigated celebrities who promote non-fungible tokens (NFTs) on their social media channels and found that it is an area rife with deception including, but not limited to, a failure to clearly and conspicuously disclose the promoter’s material connection to the endorsed NFT company, as well as the omission of other material information, such as the risks associated with investing in such speculative digital assets, the financial harm that can result from such investments, and the personal benefit(s) the promoter may gain by virtue of the promotion(s).

Highlights

  • Sent warning letters to Justin Bieber and Reese Witherspoon
  • Sent notification letters to other celebrities regarding NFT promotions
  • Justin Bieber removed more than half of the posts flagged by TINA.org

Timeline

2022
October 11

Von Miller’s legal team responds to TINA.org’s letter stating he “does not have and has not had an agreement with any NFT company to endorse or promote them or their products.”

August 24

TINA.org sends a follow-up letter to Justin Bieber’s legal team.

August 8

TINA.org sends letters to more than a dozen celebrities putting them on notice of the applicable law to the extent they have a material connection to any of the NFT companies they promote that may not be obvious to those viewing their posts. Each celebrity who received a letter is below.

August 2

TINA.org sends a second letter to Witherspoon’s legal team memorializing a previous conversation during which they denied any wrongdoing.

July 1

Justin Bieber’s legal team responds to TINA.org denying any wrongdoing but stating that Bieber would nonetheless “update his posts concerning inBetweeners.” Sometime after this letter, Bieber removed more than half of the problematic posts identified by TINA.org.

June 10

TINA.org sends letters to Justin Bieber’s and Reese Witherspoon’s legal teams notifying them  that they each deceptively promoted NFT-companies, inBetweeners and World of Women, respectively, on their social media accounts without disclosing that they have a material connection to the companies or that the posts are advertisements.

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TINA.org Notifies Celebrities Promoting NFTs

Press Release

TINA.org Notifies Celebrities Promoting NFTs

MADISON, CONN. August 9, 2022 — An increasing number of celebrities are jumping on the NFT bandwagon, showcasing their digital assets on social media for the world to see. But are…