Tennis Star Endorses ‘Lympo’: A New Era of Celebrity Blockchain Endorsements?

Tennis star Caroline Wozniacki has been named as the worldwide ambassador of ‘Lympo’, a blockchain-based app that incentivizes train and good well being practices with LYM tokens. Wozniacki was lately named by Forbes as probably the most influential feminine athlete on this planet.

“Sport is my life and what motivates me every morning when I wake up to work hard and be the best I can be. I believe in Lympo’s goal to encourage people to exercise and be healthy,” stated Wozniacki, in relatively typical PR vogue.

Lympo does appear to current an attention-grabbing premise. The app syncs up with health information collected via sensible units, rewarding customers who meet their health targets with tokens.

Major information! 🔥🔥
As of at the moment, Lympo’s official companion is Caroline Wozniacki @CaroWozniacki – world’s prime tennis participant with thousands and thousands of sports activities followers and followers!
Welcome aboard, Caroline.
👉 https://t.co/e3fHayTvjH#health #wellness #well being #healthtech #tennis #Lympo #LYM pic.twitter.com/2yMonFlHA2

— Lympo.io (@Lympo_io) April 18, 2018

However, within the period of the Cambridge Analytica scandal, the app might want to make very clear how customers could be assured that their information isn’t being secretly bought or in any other case exploited.

Several Botched Celebrity Endorsements of Blockchain Projects–Can This One Be Different?

Wozniacki’s endorsement of Lympo comes at a relatively attention-grabbing time within the saga of celebrity-endorsed blockchain merchandise. Several of those initiatives have lately confronted authorized troubles, together with Bitcoiin, a startup whose ICO was backed by motion star Steven Seagal.

Earlier this month, the US SEC charged the founders of Centra Tech Inc. with securities fraud; the Centra ICO was promoted by boxing celebrity Floyd Mayweather and producer DJ Khaled.

Defendants within the Centra case (Sohrab Sharma and Robert Farkas) “relied heavily on celebrity endorsements and social media to market their scheme,” in accordance with Steve Peikin, co-director of the SEC’s Division of Enforcement.

Former SEC prosecutor and companion at Capital Fund Law stated that the lesson for celebrities is to “know what [they’re] endorsing.”

Lympo’s ICO has already concluded, elevating roughly $eight.three million (in accordance with ICO Bench.)Therefore, it appears unlikely that Wozniacki could possibly be combined up into any form of authorized troubles relating to securities fraud. Perhaps Wozniacki’s endorsement may current an instance of “the right way” for the spheres of movie star and blockchain to intersect with each other. However, the longer term is but unwritten.