Explained: Mayweather and Kim Kardashian are promoting Ethereum Max. What exactly is Ethereum Max?
While Bitcoin 2021 conference was going on in Miami, same time there was an exhibition fight of Logan Paul and Floyd Mayweather and Mayweather decided to promote Ethereum max and so he wore a t-shirt of EthereumMax during the weigh-in of the fight and with Ethereum Max people could buy tickets for the fight
Kardashian and Mayweather are not the only ones advertising it. Former NBA great Paul Pierce, who initiated himself out of a job as an ESPN analyst after sharing a video of himself gambling with adult performers. This only happened of his new love for EthereumMax.
It is an ERC-20 token, which is programmed to run atop the Ethereum blockchain. It mainly trades against ETH on Uniswap, a decentralized exchange that permits anyone to list a token. It is just a marketing campaign. Kardashian's advertising of it gives the token superior visibility. As Kardashian has more followers than Brazil to say that a lot of people have seen this ephemeral post about EthereumMax.
However, Kim Kardashian West posted an ad for ethereum max on her Instagram story on Sunday to her 228 million followers. Including a short clip of her speaking to her camera about ethereum max with "#ad" engraved at the bottom of the screen, Kardashian West posted a script: "Are you guys into crypto???"
Also, Floyd Mayweather has endorsed ethereum max too. Ethereum Max is an altcoin that reallocates a small percentage of transactions to its token holders. It launched in May with a whole supply of 2 quadrillions. However, Ethereummax doesn't have a white paper as other crypto projects have. The ethereum max team did not instantly respond to CNBC Make Its request for comment.
Why does it matter?
However, all cryptocurrency is measured to be a risky, volatile investment, the altcoins being pushed out such as Ethereum max. So, it requires even more caution, experts have warned. Mainly when advertised to younger audiences.
This type of endorsement can be difficult when it is not made clear that the influencer has been paid to post, James Ledbetter, editor of Reuters tells CNBC Make It.
CBW - External Analyst