Digital influencers are always creating and posting content online. Even though they may seem like another hype train, they are not. No matter what type of content you might be looking for, you will find an influencer talking about it online – including blockchain, and they will tell you to buy bitcoin, ETH, LTC, ICX, or any other coin they recommend. You can buy cryptocurrencies on Paybis.
In essence, digital influencers are not like standard “red carpet” celebrities (e.g., a movie star or a singer), because they deal with the public differently. The difference is that digital influencers work close to their public, which grants them huge credibility among their followers.
In this article, you will discover how influencers affect the development of blockchain technologies.
Digital Influencer – Understanding the Term
Basically, digital influencers are individuals who can influence other people to make decisions, which includes buying a new token, using a certain type of investment strategy, or subscribing to an airdrop of a new token.
To attain such accomplishments, influencers rely on social networks such as Facebook, Instagram, YouTube, and others, through which they publish content that is relevant to their audience.
Currently, the ever-growing strength of the internet as a powerful communication tool increases the influence of these individuals.
Until recently, the status of power and influence that digital influencers have now was exclusive to individuals in traditional media, such as television stars, radio hosts, and magazine celebrities. However, the internet changed it forever.
How Blockchain Technology Can Shape Social Interactions
Initially, social networks were used exclusively as a way to connect with friends, share personal moments, and search for other people with the same interests online.
Nowadays, these platforms are much more than an alternative to mainstream media. They have the power to determine the clothes people wear, the way they get their hair cut, the subjects they talk about, and how they can invest their money.
Similarly, blockchain technology started more as a not-so-serious thing, later evolving into a billion-dollar juggernaut.
Blockchain technology has emerged as an alternative – and disruptive, depending on the point of view – of interacting and exchanging data in a decentralized way through a public and incorruptible ledger.
Since Satoshi Nakamoto published the famous whitepaper that would start Bitcoin, thousands of individuals came together around the same interest (blockchain technology) to discuss and expand this idea.
It did not take long for the use of blockchain technology to evolve, especially in the fintech environment, becoming a wealthy and powerful industry.
And beyond that, blockchain technology has created one of the most powerful communities on the planet, with members spread across all continents with active participation.
Digital Influencers vs Blockchain Technology – Are There Crypto Influencers?
Undoubtedly, the crypto industry has several active influencers that attract the attention of thousands of people to engage them through their work, opinions, and beliefs.
Among the most influential figures in the current blockchain industry, we can highlight individuals like Vitalik Buterin and Charlie Lee, who can affect cryptocurrency prices with a single tweet, similar to what Elon Musk did with Doge.
Vitalik Buterin is the “genius child” behind Ethereum, the world’s second most valuable crypto asset. Involved in the crypto community since 2011, the young man wrote articles to several Bitcoin publications until he decided to materialize his own project.
Nowadays, Buterin is 27 years old and closer to be among the world’s youngest billionaires due to his fortune in Ether (ETH). Regardless, he is already one of the world’s richest persons under 30 years of age.
Born in a Chinese family established in Ivory Coast, Charlie Lee and his brother Bobby moved to the United States when he was 13 years old. After graduating from MIT with bachelor’s and master’s degrees in computer science, he started working on Google.
Following Bitcoin’s early success in 2011, Lee became interested in blockchain technology. Later in the same year, he released Litecoin, a fork based on Bitcoin technology. Lee wrote all the coding behind the fork in his spare time while he was still employed at Google.
In mid-2013, Lee left Google to begin working at Coinbase, becoming one of the most influential figures in the blockchain industry. Currently, Lee is working full-time with the Litecoin Foundation and remains an active member of the crypto community.
Possibly one of the best examples of blockchain influencers is no other than space engineer Elon Musk. The popular business man entered the crypto space earlier this year, when the crypto community discovered that Tesla had bought large amounts of Bitcoin with their company’s cash reserves.
The company also announced that they would now accept Bitcoin for car purchases, causing a spike in the markets and most importantly, the valuation of Bitcoin. The euphoria of the crowds didn’t last long though. In a series of controversial tweets, Musk started emphasizing his attention on Dogecoin and repeatedly bashed Bitcoin due to a lack of understanding the underlying technologies.
The tweets of Elon Musk sparked controversy and more than 30% correction in the price of Bitcoin, and many people compare him with the likes of John McAffee in the previous bull market (2017).
On thing is for sure though; Whether we are talking about positive or negative publicity, the market will continue growing out of speculation, curiosity, and an increase in endorsements from influential personalities.
Undeniably, blockchain technology and digital influencers have much in common. Social media is disrupting the way people communicate between themselves, while blockchain technology is disrupting the way people exchange data and value online.
Many players in the crypto industry did not linger to realize that. Instead, numerous blockchain-based projects rely on digital influencers to attract and engage followers.
In this sense, crypto influencers also have an important role in terms of public image and market sentiment, since the vast majority of consumers in the blockchain industry would rather purchase something based on an influencer statement than regular ads.