In the next few years, creators and crypto will be so intertwined you won't remember what the world was like before it.
There are two primary trends happening:
1) Social Tokens
Creators are eager to become less dependant on big platforms like Facebook and YouTube and Social tokens could provide a way for creators to consolidate monetization efforts across all platforms and globally across borders. Companies like Rally.IO are providing turnkey solutions for creator-branded Social tokens which provide a decentralized blank canvas for creators to build on.
The immediate value for creator-owned social tokens is not yet crystal clear as adoption and use cases are still in an early phase but that will change drastically before the end of this year.
2) Creators Marketing Crypto = 📈
Creators are using their influence to drive awareness and investments in crypto. Crypto influencer agencies exist for the sole purpose of launching and promoting altcoins. This space is moving at lightspeed but seems to be largely operating under the radar with regards to transparency and disclosure of value exchanged, or personal interests/holdings.
Smart developers are allocating lump sums of altcoins to groups of influential creators to kickstart their growth in a newly crowded market of altcoins, memecoins, shitcoins, etc. This is not surprising at all given a creator could heavily impact the rise or fall of a coin, and if they themselves have a stake, they could make exponentially more than what they would typically get paid for a standard brand deal.
It’s not just the coin developers either, similar to the private discord servers who rallied the $GME rise, altcoin traders are recruiting TikTok creators and paying bounties for viral videos to promote altcoins they have interests in.
While it’s unclear if this video was paid for or not, on March 15th 2020 TikTok creator @Jabagelmantrades posted this video introducing Safemoon, a brand new but not yet easily purchasable coin. The video quickly gained traction and kicked off a landslide of other promo videos and interest, to date, the video has over 8M+ views and 180k shares.
In the weeks following more and more creators and celebrities jumped on the #Safemoon promo train. Why wouldn’t they? The more people they can influence to buy-in, the higher the price goes.
Over the following months, Safemoon made a meteoric rise (and correction) in price and popularity.
As long as crypto influencer marketing thrives in the darker corners of Reddit, private Discords, and TikTok it will be tough to regulate, require, and enforce proper disclosure. The risks and losses will continue to trickle down and affect those most vulnerable AKA the fans hoping to make a quick profit from insider info given to them from creators they trust.
Creators, be mindful of the downstream impact from pumping a shitcoin.