The '90s action star became the worldwide ambassador of a cryptocurrency called Bitcoiin 2nd Generation, news that he confirmed on his Twitter account.
An ICO allows raising funds for a new cryptocurrency venture before launch.
Bitcoin, a cryptocurrency which is "under siege" from established financial and regulatory institutions, may have found a new backer.
It's hard to say which is a more questionable decision, investing in Bitcoiin2gen or renting Seagal's Contract to Kill (a 2016 film that has a metacritic score of 3). The move, therefore, has largely been considered as a marketing gimmick to lure potential investors.
Out of the number of celebrities who have endorsed cryptocurrency, such as Floyd Mayweather, it's surprising to see Steven Seagal added to that list. Bitcoiin2Gen is ethereum based, and will have it's own wallet and mining machines.
Bitcoiin2gen had last week issued a statement announcing Seagal's endorsement.
Interestingly, the newly minted project's PR release gloriously states that "as a Buddhist, Zen teacher, and healer", Seagal "lives by the principles that the development of the physical self is essential to protect the spiritual man", as if it is somehow relevant.
BitcoiinB2G has released a statement, saying that they are not a pyramid scheme or a scam.
[Seagal] believes that what he does in his life is about leading people into contemplation to wake them up and enlighten them in some manner. "The original Bitcoin has already been exhausted because of its longer transactions time, big transactions fees, less earnings to miners, outreach from the common people and most important its core system, the blockchain itself", according to the cryptocurrency's website. The website also advertises "considerable profit from holding Bitcoiin (B2G)" via a staking/depository process. "B2G is just another "me too" altcoin launch, same as the thousands of others who market themselves on the premise of "fixing bitcoin's problems".