The interest around NFTs has reached a fever pitch, with more and more public figures joining the craze daily. But with experts touting the metaverse as the future of the internet and the world as we know it, it’s understandable why celebs would want to get involved.
However there seems to be a bandwagon effect among celebrities for other markets, and the reasoning behind their sudden interest may not be as clear. For example, every time we turn around a new singer, actor or model is announcing the rollout of their new skincare line, all without having ever publicly shared their interest in the space before now. Some examples include Naomi Osaka’s Kinlo, Lori Harvey’s SKN, Alicia Keys’ Soul Care, and Pharrell’s sold-out Humanrace to name a few.
“We’ve had so many new celebrity brands in such a short period of time that this was the straw that broke the camel’s back,” said Winnie Awa, founder of beauty advice platform Carra Awa in a recent interview with the Washington Post. “Why not collaborate with people who are doing the work? Why not invest in some of these innovative independent brands that can’t get funding?”
This seems to be the question on many people’s minds, but it’s important to remember that celebrity business trends aren’t new. Since the golden-era of Hollywood, stars have aligned themselves with business ventures that make sense for their bottom line and have leveraged their fame to ensure the public help drive sales. In layman’s terms, the celebrity business bandwagon is nothing. Here’s what we mean.
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