Legendary soccer star Luís Figo has change into the newest athlete to flip preliminary coin providing (ICO) promoter.

The Portuguese footballer — winner of each the 2000 Ballon d’Or and the 2001 FIFA World Player of the Year awards — has signed on to function model ambassador for Stryking Entertainment, whose platform, Football-Stars, seeks to tokenize fantasy sports activities.

“When I heard about Football-Stars for the first time I immediately liked the idea. Football becomes more and more data driven with detailed statistics about all aspects of the game – this is what Stryking’s platform utilizes to create a compelling fan experience. I am happy to support the experienced team at Stryking and spread the word about their platform that allows fans to engage with the teams and players they are backing,” Figo mentioned in an announcement accompanying the announcement.

With Figo’s assist, the firm plans to distribute its STRYKZ token by way of an ICO, the particulars of which haven’t but been launched.

Figo joins a rising record of celebrities who’ve endorsed ICOs.

Last month, eight-division world boxing champion Manny Pacquiao and retired English soccer star Michael Owen signed on to promote GCOX, a Singapore-based ICO whose system will permit celebrities to create their very own cryptocurrencies which followers can use to pay for unique content material hosted on the platform.

Luis Suarez, one other well-known footballer, promoted prediction market Stox’s ICO final August, a pursuit he was joined in by boxing legend Floyd Mayweather, whose ICO endorsements have change into the topic of greater than just a little controversy.

Most just lately, the US Securities and Exchange Commission (SEC) charged the founders of Centra Tech — whose token sale Mayweather had promoted on social media — with fraud.

Similarly, the SEC charged AriseBank, whose ICO had been endorsed by fellow retired boxing star Evander Holyfield, with promoting its token by way of fraudulent means.

To date, it doesn’t seem that the SEC has taken any enforcement motion towards celebrities who promoted fraudulent token gross sales, however it has issued a bulletin stating that these superstar ICO endorsements could in some circumstances be unlawful.

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