DJ Khaled promotes an ICO

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An Instagram post, downloaded yesterday, shows the DJ holding a new cryptocurrency debit card called Centra, while brandishing a bottle of vodka. A caption describes the Centra card and wallet as the "ultimate winner" in debit cards powered by tokens.

The company in question, Centra, recently completed the launch of its own token called CTR to provide its services. According to the firm's website, a total of 100 million tokens will be created.

The world-famous boxer Floyd Mayweather advertised the same company on his Instagram channel earlier this month. Mayweather has suggested that he is involved in a digital marketing company, the Crypto Media Group, which, according to Vice, is courting celebrity endorsements for cryptocurrencies.

Since then, several celebrities have been sent to social networks in recent weeks to promote blockchain token sales of various descriptions.

Rap-singer The Game, actor Jamie Foxx and heiress of celebrity Paris Hilton have all jumped on the crypto token bandwagon within the last month.

Referring to CNBC, the author of the bitcoin and lawyer Andreas Antonopoulos claimed that this trend is proof that we have reached the "peak ICO".

According to CoonDesk ICO Tracker, the total funding received under these schemes is only $ 517 million in September.