KISS bassist and frontman Gene Simmons isn’t just one of the all-time greatest metal figures in American history. The legendary rock star has been recognized for his acumen in cryptocurrency investments. Gene Simmons Cardano investment has reached mainstream crypto media and it’s a story worth sharing.
A KISStoric Business Empire
The God of Thunder has always been a keen investor. With his input, the band has generated over $1 Billion in sales from 3,000+ licensed items (not including concert tickets or record sales). With everything from t-shirts to backpacks to condoms to coffins, KISS has capitalized on the loyalty of their fanbase and built an impressive marketing empire. Simmons and his bandmates are not content to just sit at home waiting for royalties, either. When they’re not busy saving Santa, they are on the road, putting on 2+ hour shows on their “End of the World Tour,” despite Simmons (72) and lead singer Paul Stanley, (69) exceeding conventional retirement age. Even with his active lifestyle, Simmons has managed to transfer his business knowledge into crypto returns.
Gene Simmons Cardano Investment took a Rocket Ride in 2021
A few weeks later, Simmons tweeted his personal conviction in Cardano (ADA) cryptocurrency:
While Cardano’s current price is over $2 and Bitcoin’s price is over $60,000, it really doesn’t matter in terms of ease of purchase for lower income investors. In fact, it is incredibly easy for virtually anyone to purchase fractional amounts of Bitcoin even if they only have a few dollars to invest. But I digress…
On February Cardano was trading at around 93 cents. With its current price at $2.19, Simmons has more than doubled his investment over a few months. Considering that he allocated around $300,000 into ADA, his current holding (assuming it was purchased on Feb. 18) would be somewhere in the neighborhood of 323,000 ADA with a $USD value of $706,500.
While he cleared a small fortune on his Cardano investment, there is more to the story…
Gene Simmons Cardano Investment Could Help Introduce Older Americans to Crypto
As noted before, both co-founders of KISS, Simmons and Paul Stanley are near 70 years old. While KISS peaked in the late 1970’s they were still relevant in the early MTV era. Even without their signature makeup, the band enjoyed continued exposure as they deftly switched gears and embraced the new medium of video music. This means that most of their fans started following KISS from 1975 – 1989 and have an age range somewhere between their early 40’s and late 60’s.
This is typically the age where technology becomes harder for adults to understand and assimilate into their lives (and investment portfolios). With only 13% of Americans invested in cryptocurrencies. Of that 13%, 74% are between the ages of 25-44. Meaning that the vast majority of KISS fans are not involved in crypto at all. Dr. Love’s tweets about Cardano and crypto investing could have been a wakeup call for some of his nearly 1 million followers. Gene still has influence, particularly with older rock fans. Getting them onboard the crypto train will be more difficult than it would be for younger Americans, but influencers like Simmons will help in that regard.
What’s Next for KISS and Crypto?
Lead singer Paul Stanley hinted pretty strongly that KISS will release their own NFT’s in short order:
“Well, we certainly are on the edge of the diving board into NFTs,” Stanley told SiriusXM’s Jim Norton and Sam Roberts. “That’s obviously a natural, and we’re flexing our muscles just before we dive in. But that’s in the foreseeable future.”
Investing in NFT’s might seem like an intricate venture, but we’ve shown readers a step-by-step method. While Stacks NFT’s on the Bitcoin blockchain have seen incredible returns for the past few weeks, they are starting from a relatively small subset of fans. More than a million fans have seen the End of the World Tour, and that’s with over 50 cancellations (primarily due to Covid-19). Granted, most of their fans are not cutting edge tech-savvy. But what happens when these fans who have collected KISS merchandise for decades, get a chance to grab an NFT of their favorite band?
- A KISS NFT (or NFT’s from any band with a huge following) will have a huge head start over a random project. Why? Instant built-in audience and a fan base that is already comfortable buying the KISS brand.
- This could be an excellent on-ramp for older Americans into the world of NFT’s. Readers here are well aware that cryptocurrencies, decentralized finance and NFT’s are going to be the future of finance. That isn’t the case for most Baby Boomers and Generation X’ers.
Will NFT’s of Dr. Love and Starchild be enough to get them in the game? Perhaps. If KISS does their research and makes ownership of their NFT tied into an experience (Backstage passes? A private video concert?) then thousands of middle aged Americans could be introduced to the world of NFT’s. And that’s a very good thing for their fans and the crypotoverse as well. And hey, KISS fans, You Got Nothin’ To Lose!
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-The Crypto Trend Analyst Team