Paris Hilton Gives Away NFTs on Jimmy Fallon's Tonight Show

During a recent appearance on Jimmy Fallon's "The Tonight Show," Paris Hilton, a celebrity and crypto investor, gave away NFTs to audience members.

During her recent appearance on Jimmy Fallon's "The Tonight Show," Paris Hilton gave each audience member a non-fungible token (NFT).

She made the announcement during a talk with Fallon about her upcoming NFT collection, "Forever Fairytale," a collection of memories with husband Carter Reum.

"I think people are gonna love this," Fallon added, before Hilton responded, "I want to give you the first one because you love it so much." And I'd like to gift one to each and every person in the audience."

Fallon said, "I think that was the first NFT giveaway in television history."

The NFT collection is being distributed on the Origin Protocol in collaboration with Superplastic.

Hilton, cryptocurrency, and NFTs

On the episode, Hilton also flaunted her Bored Ape Yacht Club (BAYC) NFT, which she stated she purchased after Fallon joined the BAYC juggernaut.

"I'm so happy I taught you what they were. I went and copied you and did the same thing," she added as Fallon displayed a picture of her NFT to the audience.

This isn't the first time Hilton has come into contact with the cryptocurrency business. She joined Origyn, an NFT platform, in November 2021, and Origin, an Ethereum NFT startup, as an advisor last summer. Despite their similar titles, the two initiatives are unrelated.

Hilton is so fascinated with NFTs that she may have forgotten about them when she launched "her first NFT" last March.

November 24th, 2021

Paris Hilton-Backed $300 Million NFT Company to Upgrade its Service"

A Paris Hilton-backed NFT company has attracted more investors, enabling it to raise $20 million in funding. The celebrity's latest non-fungible token investment in Origyn, an NFT Swiss foundation, clearly indicates her "obsession" with digital artworks.

by Getty Images

Origyn prides itself as a "nonprofit dedicated to identifying, authenticating and unlocking the powers of ownership for objects of value." The company added that it applies a "unique NFT approach," referring to NFTs, or unique digital assets.

On Tuesday, Origyn announced it raised $20 million from investors including Hilton Hotels heiress and actress Paris Hilton and Bill Ackman's Table Management in a funding round that estimates the firm at $300 million.

Thanks to the company's efforts, artists, creators, power brands, consumers, marketplaces, and other organizations or people interested in NFTs, can have them authenticated.

Currently, the NFT industry is growing dramatically due to the creation of different digital artworks. Also, more investors are starting to get involved in this blockchain business.

Wealthy individuals including Hilton and others across the globe are now investing in the billion-dollar blockchain market. "The $300 million NFT company was able to attract rich people, such as Paris Hilton and Bill Ackman," says a Bloomberg report.

The American actress said. "I launched my first NFT drop in March 2020, and have been obsessed with NFTs and the never-ending possibilities of this technology ever since."

Hilton also claimed that NFTs are now the future of creative professionals and artwork collectors. She added that the NFT industry is just starting to develop and is anticipated to grow in the future.

Origyn said, "The $20 million will be used to fund ongoing R&D and onboard the foundation's growing list of industry partners to the ecosystem."

The company also plans to create OGY, a publicly-traded token, by June 2022.

Origyn was established in October 2020, a few months before non-fungible tokens became an investing fad. After an NFT artwork "Beeple" was sold at $69 million in March, many more NFTs have sold for extremely high prices. For instance, Twitter co-founder Jack Dorsey's first tweet was sold for $3 million later that month.

by Unsplash

At the same time, new NFT firms and agencies also started coming up, hoping to get a piece of the profits from digital artworks. For instance, "Multiverse of Women" NFT collection was launched recently.

Meanwhile, a new website "The NFT Bay" has been created, enabling NFT customers to torrent digital artwork copies.

Nearly all of the appeal of NFT sales has been lost

People who are interested in cryptocurrencies are finding it more difficult to sell their crude, inanely derivative Bored Apes and lifeless, plain 8-bit faces of CryptoPunks. Data from Dune Analytics shows that from January to September of this year, the trading volume for NFTs decreased from $17 billion to barely $466 million. That represents a sharp 97% decline within only 9 months. The NFT trading platforms Foundation, OpenSea, LooksRare, NFTX, SuperRare, LarvaLabs, and Rarible were used to gather the data.

With that figure, trading today would be lower than it was in July of last year, just before the NFT frenzy fully took off. This information builds on earlier reports from September that OpenSea, the largest NFT trading platform by volume, had experienced a 75% decline in sales from just two months before.

Bored Ape Yacht Club, the once-king of the non-fungible expanded universe, is now ranked under the likes of Terraforms and CryptoPunks, while it still takes up a somewhat expansive space in the congested psyches of famous people like Paris Hilton and Jimmy Fallon, which may account for a significant portion of this decline. According to hildobby statistics, Terraforms had a 1 week of trading activity of 12,202 ETH compared to 3,634 ETH for Bored Apes. The market cap of BAYC tokens, according to NFT Price Floor, has decreased by almost 8%, despite a slight increase in recent days.

Since the crypto crisis in May of this year, the ensuing crypto winter has cost the industry close to $2 trillion. That is undoubtedly the case, as seen by CoinMarketCap data on coins like ApeCoin and Tezos, both of which continue to trade at relatively low levels when compared to their peak prices in the spring of 2022. But overall usage is dropping as well. According to DappRadar data, OpenSea users decreased by over 5% in September.

Additionally, customers continue to experience significant account intrusions despite the fact that fewer persons are profiting from NFTs. Jason Falovitch, a former sports administrator who now promotes NFT initiatives on behalf of Mark Cuban, said that four NFTs were just taken from his wallet, with the hacker reportedly making a profit of $150,000. Later, Falovitch tweeted that about $1 million in ETH and NFTs had been stolen.

The Optimism blockchain network has been added to OpenSea's list of supported networks in an effort to increase trading interest. However, when new marketplaces like GameStop's NFT platform came out of testing in July, there was a surge of new customers, but that surge rapidly subsided. In late August, the company's NFT platform's daily income allegedly fell below $4,000.

This information makes many companies' tardy endeavors to capitalize on the NFT mania even more absurd. The problem is that more businesses are attempting to integrate NFTs into their platforms without actually referring to them as NFTs. Recently, Starbucks discussed their own NFT technology but referred to them as "stamps." Reddit introduced "collectible avatars" in July, but business executives have been reluctant to include NFTs in any of the company's marketing materials.