CryptoCelebrities is a cryptocurrency-based collectible online game. Buy and sell "contracts" from other users, earning a cut of the profits.

Uncharted waters

After the explosion of interest cryptocurrency received in late 2017, many weird and wonderful creations jumped on the bandwagon. One of the strangest is CryptoCelebrities, a mash-up of online trading game, cryptocurrency and charity funding. The service works by trading contracts of listed celebrities, purchased with Ether. If another user wishes to then buy an owned contract, they must pay double the previous payment. Before CryptoCelebrities has even moved beyond a closed beta, all available contracts are traded at prices above $300 with many into the tens of thousands. While these huge sums may be a sign that the service is a strong investment, the more realistic answer is that CryptoCelebrities is even more of a volatile system than standard cryptocurrencies. As each contract is sold directly to another user, there is no way to cash out in an exchange. This may leave users paying huge sums for ultimately useless contracts.

Strange times

CryptoCelebrities is a bizarre entry into the already crazy world of cryptocurrencies. Despite promises of doubling entry costs, it may simply be too good to be true.