The famous influencer John McAfee has publicly stated on Twitter that he will no longer sponsor crypto projects.
To be precise, he said that he would continue to deal with and talk about cryptocurrencies, but would no longer be willing to promote individual projects.
In the past, he was known for the high fees he demanded in exchange for paid promotion, and he has promoted several crypto projects. Now, however, he has decided to stop, defining the crypto sector as the Wild West.
“I’m no longer doing crypto promos. Not if God Her/Himself comes with a plan to use Blockchain for auto-erotic stimulation. I’m moving to an all advertising plan for putting food in my mouth. I will be accepting ads that make me laugh, etc. Nothing more. And only a few”.
And then he continued:
“I’m not backing off from Crypto. I’m backing off from promoting specific coins or projects. It’s the Wild West here in Crypto. Even I cannot properly vet anything in this nuclear explosion of technology, promise and exploitation to the degree that I am comfortable promoting it”.
The issue raised by McAfee is absolutely realistic. At the moment, the volume of new projects entering this market in search of promotion is so high that for such a popular influencer it is absolutely impossible to check them all.
The risk is that there might be scammers among them, and for such a person it would be really detrimental to end up promoting a project that might eventually become a scam.
Surely John McAfee’s reputation is not the most immaculate, but within the crypto sector he still has a lot of followers and the risk of losing them by promoting projects of dubious nature is very high.
It’s more than plausible that the total volume of requests he receives for this purpose prevents him from actually checking them all to see which of them are to be considered of dubious nature, and which are absolutely legitimate. Therefore, the decision to discontinue the promotion activities seems to be very justified.
Finally, it is also worth remembering that McAfee is still in exile, pursued by the US law enforcement agencies, and this probably has a significant impact on the real availability of his time and that of his team.