For celebrities, like brands, this is another way for them to engage with their fans and audiences, this could be through virtual events, concerts, shows and more. They could sell virtual merchandise so fans could show their fandom both in their real and virtual lives.

Michael Inouye

These are all things companies are doing to show improvements when it's becoming increasingly difficult to do so from the hardware side, even though the hardware certainly makes advancements, from most consumers' perspective they aren't going to notice the differences in their normal day to day usage. But these changes are noticeable.

Apple isn't always first and increasingly they may seem behind the curve, but when they bring something to market, it tends to be very well executed.

These have usually been associated with cryptocurrencies where the celebrity will hype it up and then when people invest in it they in turn around and sell their currency at a profit, this speaks to the less savory side of all of NFT-blockchain-crypto, which is at least in part driven by hype and speculation.