Amanda Cassatt, founder of Web3 marketing company Serotonin, said at the Token2049 conference: "Although the adoption rate of cryptocurrency has increased significantly, anyone who wants to invest in the crypto field must do their own homework. Don't believe what others say or any marketing. ” He emphasized: “Marketing is one of the fraud techniques. You must remain suspicious of everything and focus on your own research.”

Regardless of whether you are a newbie or an expert, it is wise to remain skeptical.

Cassatt explained that in the encryption field, whether you are a rookie or an experienced investor, you must be "sceptical" about everything. You must understand what kind of products you are using or investing in, and you must have your own opinions. He added that in recent years, as the government has increased due diligence standards for public relations companies, these public relations companies have become more cautious to ensure that they are working with legitimate encryption projects. She said that when a public relations company evaluates an encryption project, it will seek advice from fund managers and angel investors to ensure the feasibility of the cooperation project and conduct an in-depth assessment of the financial situation.

Celebrities endorse encryption projects, contrast brings topics and risks

Cassatt also talked about the "celebrity endorsement" approach in the encryption field. She believes that there is currently a "contrast between celebrities and encryption products" that is very impressive. She gave the example of Solana’s token $Mother, launched by rapper Iggy Azalea, as having this contrast. She is not a character that people would immediately associate with technology, technology or cryptocurrency, and because of this contrast, she makes people feel cool and arouses attention and topics.

Finally, she also said that the collapse of the encryption project would not only affect the company's directors, employees and outsourcing vendors, but also partners such as marketing companies. For example, the collapse of FTX has also affected several Youtuber endorsers in the United States, who have to face nearly $1 billion in lawsuits.

Investors should be skeptical of any cryptocurrency and NFT projects. Even products endorsed by celebrities do not mean they are safe or reliable. Be sure to do your own in-depth research and homework to understand the technology and risks of the project, and avoid being irrational because of celebrity endorsements. Be cautious and avoid blind obedience.

This article Token 2049｜Celebrity endorsement of cryptocurrency makes people crazy, and marketing is one of the fraud techniques. It first appeared on Lian News ABMedia.