ZoneBitcoin EditorialSahil Arora is an entrepreneur from India currently living in Dubai. This young prodigy studied in the United States before venturing into the blockchain technology sector.
From the start of his career, Sahil Arora has shown a particular interest in cryptocurrencies and decentralized technologies. In 2017, when he was only 18 years old, he launched, Sahil Arora In 2017, “Vuzelaa Group” in India in order to install Bitcoin ATMs. Then, between 2020 and 2023, with his notoriety on social networks, Sahil launched a multitude of crypto projects (ZelaaPayAE, ZelaaNFT, etc.) before focusing exclusively on the creation of tokens for celebrities. This business would have allowed it to generate more than $30 million in revenue in 2024, according to BubbleMaps.
Most of the tokens he launched are now worth $0 and many celebrities have claimed to have been scammed.
A look back at Sahil Arora’s journey and the business of worthless tokens that only earn money for their creators.
The concept of celebrity tokens
Celebrity tokens are digital tokens, issued on the blockchain, the aim of which is to be able to create a new form of interaction between fans and artists. These tokens are created in limited quantities (or not) and associated with a specific celebrity, such as a world-famous actor, musician or sportsman. They offer holders exclusive benefits, such as virtual meetings, online signing sessions, early access to new content or even immersive experiences in the metaverse, for example.
Sahil Arora's projects and collaborations in the field of celebrity tokens
Sahil Arora has collaborated with many world-famous celebrities to create worthless celebrity tokens including Mayweather, Caitlyn Jenner, Iggy Azalea, Jason Derulo and Amber Rose. Here are some of his most notable projects:
- CryptoKing : One of Sahil Arora's first projects was CryptoKing, a token associated with the famous American rapper Nas. This token gave Nas fans access to exclusive content, virtual meetups, and immersive experiences in the metaverse.
- TokenBond : TokenBond is a platform created by Sahil Arora to facilitate the issuance and management of celebrity tokens. This platform has allowed many celebrities, such as singer Mariah Carey and actor Kevin Hart, to launch their own tokens.
- MetaStars : MetaStars is a project again designed by Sahil Arora aiming to create a complete ecosystem of celebrity tokens in the metaverse. This project will allow fans to interact with their idols in an even more immersive and interactive way.
Criticisms and controversies surrounding worthless celebrity tokens
Despite their growing success, celebrity tokens have attracted their share of criticism and controversy. Caitlyn Jenner took offense on her X account over the fact that Sahil Arora “scammed” her.
- Excessive speculation : Some experts have expressed concerns about excessive speculation around these tokens, which could lead to a speculative bubble and financial losses for unwary investors.
- Lack of regulation : The lack of clear regulation around worthless celebrity tokens has raised questions regarding their legality and compliance with securities laws.
- Risk of fraud : As with any new technology, there is a risk of fraud or scam linked to the issuance and sale of these tokens, which has prompted warnings from regulatory authorities.
- Sustainability questioned : Some experts have questioned the long-term sustainability of worthless celebrity tokens, arguing that their value depends entirely on the popularity and engagement of the celebrities involved. This also allows this type of project to be covered from loss of value. Indeed, they will be able to say that it is not their fault and that the market decides. This helps cover all worthless tokens designed to scam investors.
- Ethical criticisms : Voices have been raised to criticize the ethical aspect of exploiting the image and notoriety of celebrities for commercial purposes, without offering real benefits to fans.
Final word
Celebrity tokens, like other tokens, have no real uses. These are tokens created with the primary objective of enriching the creators of its tokens.
As Bublemaps reminds us; “Although thousands of fans have lost money, the actions against Sahil fall into a legal gray area, making them difficult to pursue.” Even more so “Even the celebrities don't blame him, because they are partly responsible”.
In fact, just like influencers who sell their audiences bitcoins that will collapse, Sahil Arora simply takes advantage of the naivety of investors to enrich himself, without risking a prison sentence. After all, he will have warned those interested that “all tokens can lose value” while subtly making them believe the opposite.
This reminds us that the world of cryptocurrencies (apart from Bitcoin) is becoming ever more astonishing and that the deception of investors has no equal anywhere other than in a casino.
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