Cryptocurrency investment in Indonesia increased significantly between 2020 and 2022, with 4% of the country’s population investing in cryptocurrency.

According to Indonesia’s Commodity Futures Trade Regulatory Agency, the volume of cryptocurrency transactions in 2021 exceeded $34 billion.

This growth has shaped a new attitude towards cryptocurrency investments, especially in the mainstream media. An example of the growing popularity of mainstream cryptocurrencies is the participation of Indonesian celebrities and influencers.

Cryptocurrency adoption among celebrities
Celebrities and influencers in Indonesia seem to be getting more involved in the Indonesian crypto investment industry from 2021 onwards.

Many of them have become brand representatives of stock exchanges and crypto projects to help market them and significantly increase trading volume.

The participation of personalities such as Jo Taslim, an Indonesian actress who became internationally famous, and Indonesian models and actresses Jessica Iskandar and Chandi Olya may not come as a surprise given the inevitable presence of celebrities in advertising and branding.

Some celebrities even created their own cryptocurrency.

The popularity of the celebrity icon has skyrocketed, especially after one of the most prominent Indonesian musicians, Anang Hermansia, created his iconic icon.

As of February 2022, three tokens have spread in Indonesia: VCG (VCG), Asix (ASIX), and I-Coin (ICN).

Leading Asix Anang Hermansia, a prominent figure in the Indonesian music industry.

VCG spread through a partnership with RANS Entertainment. This company is owned by Ravi Ahmed and Nagita Slavina, a famous couple of movie stars and businessmen in Indonesia who were recently nominated by Forbes Indonesia as “Sultans of Content”.

I-Coin was created by Virda Mansour, a social activist and daughter of a well-known Indonesian Islamic cleric.

The names of the celebrities who supported them and their marketing team made their token spread rapidly and caused a lot of fear of losing profits or fear of fear among beginners in Indonesia.

But long before that, the trend started with an influencer named Indra Kenz who created his token with his team called Botxcoin (BOTX).

Related: Indonesia’s Crypto Industry in 2021: A Kaleidoscope

Known NFT Projects
BOTX, an Ethereum-based project that plans to become a decentralized social trading platform, was launched in 2021.

BOTX is the first celebrity token in Indonesia and aims to be the first decentralized cryptocurrency trading platform in Indonesia.

After the launch, it seems that influencers are becoming more aware of the growing trend of blockchain and cryptocurrency. This trend has led a lot of influencers to start talking about cryptocurrency on their social media.

When this happened, Non-Foldable Tokens (NFTs) became very popular in Indonesia, especially when the Indonesian group of NFTs called “Ghozali Everyday” became world famous for their uniqueness.

Due to the rapid development of cryptocurrency and NFT, influencers and celebrities have started creating their own NFT and cryptocurrency projects.

An Indonesian celebrity who created his own NFT projects and spread all over the world is Syahrini, an Indonesian singer and socialist.

Under the pseudonym Princess Syahrini, she created and sold a set of NFTs on the Binance NFT Marketplace. It was reported that her NFT collection “Syahrini’s Metaverse Tour” sold out within just eight hours after its publication.

Another prominent figure in the Indonesian entertainment industry who created her own NFT project is actress, model and singer Luna Maya.

She launched her group of 10 NFTs only with Tokau, a Japanese art company with expertise in making NFTs.

Its collection was sold on the BakerySwap NFT marketplace and attracted a lot of attention, including Changpeng Zhao, CEO of Binance.

This trend has continued as more and more celebrities in Indonesia are researching, promoting and creating their own NFT projects.

Examples of Indonesian influencers and celebrities who promoted NFT projects include actor Brandon Salim, famous Indonesian chef Arnold Purnomo and influencer known as Jejou.

They have promoted one of the most successful NFT projects in Indonesia that has gone global, Karafuru, which has a current trading volume of 37,200 Ether (ETH).

government response
With the violent hype surrounding celebrities creating their own NFTs and crypto projects, regulators are stepping in to protect investors.

The Commodity Futures Trading Regulatory Agency, also known as BAPPEBTI, is currently warning celebrities to seek approval for their projects on the list of legal cryptocurrencies in Indonesia before promoting them.

Source: CoinTelegraph