Why Are Cryptocurrency Influencers So Crucial to The Ecosystem?
Because traditional digital advertising has fallen out of favor in the blockchain ecosystem, crypto influencers have become an essential alternative marketing technique.
For example, Reddit has forbidden bitcoin marketing since 2016, Google has prohibited cryptocurrency advertisements since 2017, and Twitter has been banned cryptocurrency advertisements since 2017.
These social media platforms and search engines control the great bulk of the digital advertising industry. Without them, fintech and cryptocurrency companies will be forced to discover alternatives to traditional digital marketing strategies to survive.
According to the figures, Facebook and Google accounted for 99 % of ad revenue in the third and fourth quarters of 2016. That is a large market to overlook, which is why using influencers is critical for any cryptocurrency company wanting to grow its reach.
Influencers can impact the value of cryptocurrencies and projects by their ideas in the blockchain community of cryptocurrency enthusiasts. Like those in any other web community, influencers in the cryptocurrency realm utilize different social media platforms such as YouTube, Instagram, and Twitter to produce content centered on crypto projects and the web subculture that has risen around them.