In the development of cryptocurrencies, social media played a significant role. Communication, interaction, and sharing are all possible through these platforms. In order for cryptocurrencies to flourish, participatory culture was necessary. Approximately 4.62 billion people have social media accounts in 2022, which makes up more than half of the population.
Social media is used by most blockchain networks to increase the reputation of their cryptocurrency. Furthermore, high-profile entertainment and entrepreneurial figures are more likely to endorse the crypto network.
What are the strategies blockchain networks use to capture these influencers’ attention? We will look at the methods crypto projects use to captivate celebrities in this editorial.
The Relationship Between Crypto and Celebrities
Instagram and Twitter are among the social media platforms that advertise cryptocurrencies these days. The popularity of cryptocurrencies has been boosted by celebrity endorsements, just as with many other goods and services.
Over the past couple of days, blockchain networks such as Cardano (ADA) have seen their market capitalization and value boom. A collaboration between rap legend Snoop Dogg and his son Champ Medici and Cardano-based Clay Nation was announced in May 2022. According to Champ Medici, the network’s ecosystem will grow in the future based on the work of the network’s creator, Charles Hoskinson.
The ADA’s founder Charles Hoskinson plans to feature a music video featuring Snoop Dogg and Champ Medici. As one of the biggest rappers in the world cosigned ADA consistently, this undoubtedly contributed to the platform’s popularity, value and market capitalisation.
A leading cryptocurrency in the crypto market, Cardano offers some of the most useful decentralised finance (DeFi), smart contract, and non-fungible token features. Crypto enthusiasts and influencers may have taken notice of it because it is one of the few blockchains to use the proof-of-stake consensus mechanism successfully.
How Can New Cryptocurrencies Capture the Eye of Influencers?
Considering the oversaturated market, it may be difficult for new blockchain networks to stand out. With its lighthearted charm and utility token functionality, HUH Token (HUH) will attract the attention of many influencers as a decentralized meme coin.
A harmonic ecosystem enabling multiple growth possibilities is the result of these combinations, leading to the first ‘utimeme’ cryptocurrency. Users can also acquire rewards for their activities on HUH Token’s social networking platform, MetHUH.
The NFTs generated from users’ social media posts can also be redeemed for tokens, allowing them to generate revenue. By allocating 20% of HUH tokens to Musk’s wallet, the new blockchain goes one step further in its effort to attract influencers.
To make Musk aware of the token’s holdings, the website also encourages its visitors to mention HUH Token on Twitter. Tesla’s shares will be donated to suicide prevention conservations if Elon Musk is not interested in them.
In August, the cryptocurrency coin aims to have 1,000 influencers to post about it, and by the end of the year, it hopes to have 50,000 influencers to post about the cryptocurrency.
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