Let’s Stop Treating Kim Kardashian like she’s Elizabeth Holmes

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The media is on a terror again. This time, our mortal enemies are Kim Kardashian, Floyd Mayweather, and Paul Pierce for allegedly participating in a pump and dump of EthereumMax. Unfortunately, even if the charges against them make it to court, the amount of media attention this story will receive is already disproportionate to the action.

Megastars like Floyd Mayweather and Kim K are doing several endorsement deals yearly. Furthermore, crypto buyers should know not to trust a big butt and a smile. The blockchain metaverse is full of exaggerated promises and projects that bite off more than they can chew. Therefore, anyone investing in crypto or meme coins should be doing extensive homework.

This article is not investing advice. But, before I buy into or work on a project I do my best to vet the team. Some teams self-dox in order to legitimize themselves to the community and gain recognition for their accomplishments in the field. Other projects hide behind NFT masks creating a world of suspense and illusion. Still, others do a bit of both, keeping some mystery and selling an edgy product. 

People who scam in cryptocurrency or otherwise should be held accountable. If Steve Gentile or Giovanni Perone of EthereumMax committed fraud, they should pay the piper. Contrastingly, unless Kim K, Money Mayweather, and Paul “The Truth” Peirce explicitly knew EthereumMax was a pump and dump, then the media should shift focus to the founders. 

The EthereumMax project quickly slipped out of crypto’s spotlight after a brief moment. The project’s potential wasn’t meeting deadlines with no visible DeFi product on the horizon. So, maybe EthereumMax is a scam. Its founders deny the allegations.

If anyone is the proverbial Elizabeth Holmes in the EthereumMax story it is Gentile and Perone, not Kim Kardashian. Furthermore, it is they who have possibly soured the pot for all the token projects trying to harness the power of blockchain, tokenization, NFTs, and the metaverse. 

DeFi should be left to the experts but there is room in the Web3 economy for tokens to be utilized as currency in customized metaverses like the ones seen in Decentraland, The Sandbox, and Upland. On the simple side, you can think of them as Dave and Buster’s tokens, it’s a way to buy into the experience. Once you get into concepts like play-to-earn and GameFi, backend functionality gets a bit more complex and perhaps better left for another article.

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