Here’s a prediction I’ll make with 100% confidence: At some point in 2014 a celebrity will launch their own currency a la Bitcoin, Litecoin or Dogecoin.
I’ve had this thought before, but was reminded of it by the fact that someone has launched a cryptocurrency called CoinYe West inspired by Kanye.
He’s not connected to it in any way, but it’s only a matter of time before a celebrity (possibly Kanye, since he has the ambitious frame of mind for it) does actually do it.
For one thing, it’s very easy. All the code to basically replicate Bitcoin is open source.
Furthermore, as Dogecoin has shown, there’s a big opportunity for a coin to become the preferred “currency” within an online community. In the case of Dogecoin, it’s already the second most popular currency on Reddit for tippers as it has strong uptake among fans of absurd internet memes..
In addition to being shared among fans, the celebrity could create value for the currency by selling tickets in that currency or other merch or other access to the celebrity.
Given the ease, the headlines it will draw, and the obvious boost to the ego, this will happen. Probably pretty soon.
So the question is only: who will do it first.
Business Insider Emails & Alerts
Site highlights each day to your inbox.