Lindsay Lohan has become the latest celebrity to share her passion for crypto — but it appears that she’s getting Bitcoin and Ethereum a little muddled up.
The Mean Girls actress announced the sale of her non-fungible token (NFT) by tweeting “Bitcoin to the moon,” complete with a rocket emoji.
There’s just one awkward problem: the NFT artwork was created via Rarible, a popular NFT marketplace that uses the Ethereum network, not Bitcoin.
The confusion may have surfaced from the NFT artwork itself, which features an image of Lohan wearing an earring that says "Lightning," with the shape of a lightning bolt.
Some commentators said she may have been referencing the Lightning Network, which uses smart contracts built on top of the Bitcoin blockchain to expedite payments.
Many of her followers tweeted about the fact that Rarible uses the Ethereum network, but it didn’t seem to affect the sale of her token. It was snapped up for 33 ETH — worth a cool $58,947 at the time of writing. Lohan has said that she’ll donate any portion of additional sales she receives to charities that accept Bitcoin.
Non-fungible tokens are becoming increasingly popular with celebrities as a means of engaging with fans. Reminiscent of collectible baseball cards, the idea is that NFTs must be rare, indivisible and unique — with their value based on their exclusivity.
Lohan follows in the footsteps of billionaire entrepreneur Mark Cuban, who sold an NFT called “The RollUp 2021” — releasing 10 editions on Rarible.
On Wednesday, Ethernity, a new non-fungible token art project, announced it would auction off digital artworks featuring high-profile figures including Tyler Winklevoss and DJ Alesso.
They now have 75 celebrity-backed artworks on the blockchain, with plans to release a further 200 later this year.
Subscribe To Our Newsletter!
Follow all the latest headlines in the CoinMarketCap newsletter. It's free, and arrives in inboxes five days a week!