Why the crypto community is uncertain about Cardi B’s WAP memecoin

• Cardi B launches WAP, connecting mainstream culture with cryptocurrency and engaging her massive following.
• Despite misinformation and FUD, a strong community supports the WAP project and its mission.

Grammy-winning rapper Cardi B is amplifying her impact beyond the music scene with the launch of her own memecoin, WAP, drawing inspiration from her iconic 2020 collaboration with Megan Thee Stallion.

Recently, she showcased her enthusiasm for this digital currency in a post on X, when she noted, 

“Unleash the bull in you, get that $WAP.”

Cardi B targets the crypto community

With her massive following of over 35 million on X (formerly Twitter), Cardi B’s engagement with the $WAP project represents a pivotal moment in the world of cryptocurrency.

This innovative memecoin aims to link mainstream culture with blockchain, building a lively community of fans and crypto enthusiasts.

By launching WAP, Cardi B boosts her influence in music and creates a new cultural intersection in crypto.

That being said, while the launch of WAP has generated considerable excitement, it has also encountered organized misinformation campaigns and baseless accusations that threaten its reputation.

Crypto community’s mixed reaction

Some critics have attempted to spread fear, uncertainty, and doubt (FUD) to undermine the initiative without any credible backing. 

For instance, in Cardi B’s recent post, X user rhl noted, 

“can’t drop an album , can’t pay the bills , filed bankruptcy so now we scamming fans and ask them to invest in some weird apps to take their money.”

Adding to the fray was another X user who created further controversy by commenting, 

“Hacked?” 

Well, this FUD is all because the rise in crypto scams this year has triggered increased vigilance within the community, especially after high-profile hacks.

Past instances of celebrity involvement in the crypto space

For instance, Metallica’s X account was compromised to promote a Solana [SOL] token called METAL.

Jason Derulo also faced scrutiny for his crypto token, JASON, which saw initial gains before crashing amid sell-offs attributed to a co-creator known for scams.

In another alarming incident, hackers took control of Kylian Mbappé’s X account to promote a fraudulent token, leading to a rapid drop in value to just $9,200 within an hour and resulting in a loss of over $1 million for one investor. 

What lies ahead for WAP?

Hence, in response, a robust community has emerged to defend the project, strengthened by endorsements from notable crypto influencers such as Shmoo, Rex, and Solstice. 

Source: The Solstice/X

Needless to say, their steadfast support would not only enhance the project’s credibility but also emphasize a shared commitment to educating the public about the authentic mission and promising potential of $WAP. 

Hence, with its recent launch, it will be fascinating to see how the project evolves and gains traction.

A WAP spokesperson put it best when he said, 

“We’re excited to welcome Cardi B to the Solana ecosystem. She brings unmatched energy and a new wave of excitement for crypto. Her connection with her fans is real, and WAP is about building something just as authentic.”