Paris Hilton's ambition to become 'metaverse queen'

  Paris Hilton has always been considered a trendsetter, with her latest ambitions associated with the metaverse and the NFT.

Paris Hilton usually attends the entertainment industry's annual private party, but the scene changes this year when it takes place in Paris World, the virtual reality world she built on the Roblox platform. Nearly 400,000 Roblox users attended the virtual festival she hosted in mid-April, 40 times more than the number of people attending the real-life event.

She also worked as a DJ and played live music in the virtual world. With Paris World, users can buy virtual clothes, book events, or pay to enter a club's VIP area.

"I've always been passionate about technology and the future. My new nickname is metaverse queen," Hilton said.

Paris Hilton's character in an event held on Roblox. Photo: CNN
Paris Hilton's character in an event held on Roblox. Photo: CNN

Paris Hilton has long been a trendsetter. She is one of the first KOLs - influencers - thanks to the reality TV show The Simple Life launched in 2003. Hilton is also constantly looking for ways to build the image of a successful businesswoman and creator, rather than just an entertainer.

In the latest trend, she has invested in a number of technology companies, including digital character startup Genies and animation app immi, which allows NFT owners to bring characters into the virtual world theirs in real life. Hilton also purchased a painting from the NFT Bored Ape Yacht Club collection, and created her own NFT works.

The Iconic Crypto Queen, a collaboration between Paris Hilton and NFT artist Blake Kathryn, sold for $1,111 million, a figure reminiscent of the 11:11 Media company she founded.

The future of the metaverse and NFT is still unclear, but some experts say they hold a lot of potential for stars and brands looking to welcome virtual products and events.

"This is a way for them to interact with fans and audiences. They can hold virtual concerts, as well as sell virtual souvenirs for fans to show their love of idols even in the tech world. digital and real," said Michael Onouye, an analyst at research firm ABI Research.

The drive to build virtual products and services is just one part of Paris Hilton's growing business empire.

NFT Representative Voice

In 2019, Hilton became one of the earliest promotional stars for NFT. A friend of hers wanted to raise money to support reconstruction efforts after the bushfire disaster in Australia. Hilton was asked to do a digital painting on an iPad and decided to paint her cat Munchkin. All proceeds from the sale of paintings go to charity.

"I then appeared on sites like Clubhouse during the pandemic, to discuss with artists about the NFT world and dialogue with leaders in the field. I became passionate about it and started collaborating with the artist world. This is something I really believe in," Hilton recalls.

Since then, she has been one of the spokespersons for the NFT.

Many entertainment stars such as Snoop Dogg, Lindsay Lohan and Shawn Mendes have launched their NFT products. However, there are signs that the NFT market is going down. The number of transactions per day now stands at 19,000, compared with 225,000 in September 2021, according to data from the Wall Street Journal.

Former Twitter CEO Jack Dorsey last year sold his first tweet as an NFT in exchange for the equivalent of $2.9 million in digital currency. Buyers then put the NFT up for sale but were only offered a much smaller amount.

Bitcoin price also plummeted below $30,000 in early May, down more than half from its November 2021 peak. Many other cryptocurrencies have also depreciated significantly in recent weeks.

In addition to the instability of cryptocurrencies and NFTs, fraud and theft are also present in this world. A number of American artists have been sued for allegedly participating in schemes to "inflate the price" of cryptocurrencies to make a profit.

Paris Hilton says she's very careful and doesn't offer buying advice to fans, stressing that her passion for NFT is to "support artists, not invest".

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