Crypto markets had an astronomical run early this year, followed by a halt and then a drop since April. Financial experts at signalscv.com are divided on crypto at the moment. Its path ahead will determine how market conditions impact mainstream adoption. Everyone from artists, creators, and celebrities are taking a keen interest in crypto and contributing to the push for mainstreaming it.
Informally, non-fungible tokens (NFTs) and social tokens are connected to the broader crypto market. This connection fades once fans from outside of crypto are brought in. Assuming Bitcoin (BTC) and Ether (ETH) continue with their respective slumps, entering a bear market looks possible. Bullish or bearish, unique opportunities shall be presented for the industry in both scenarios. The near future shall be quite crucial for the intersection of the creator and crypto economies.
As a strong case, social tokens can be insulated from the effects of the rest of the market by the growth of the creator economy. Tokens are bought by the creators’ audience basically to interact with their favorite artists and creators. Social tokens also unlock exclusive token-gated benefits, and they do not care about the price of either BTC or ETH.
The creator economy, consisting of over 50 million YouTubers, bloggers, TikTok stars, and other content creators, is growing at a breakneck speed. With ad spend on influencer marketing reaching $10 billion last year and direct transactions happening between creators and their fans, crypto is becoming popular and more accepted. Creators and celebrities have taken fair space in the conversation about crypto, primarily owing to the boom enjoyed by crypto and NFT earlier this year.
Many influencers and crypto tourists leave the space and vanish during down cycles. Though a few creators made quick money by endorsing and even investing in crypto, many are truly exploring how crypto could bring fans closer to them and how it can be used to express in better ways. They are continuing to explore the space and build more utility. Creators from the cryptosphere with high market cap economies are now more common than ever. Crypto is a good breakthrough for the middle class as more creators build new economies with independent values and functions.
Crypto attracts new audiences and helps them understand the true value of the technology. This technology needs to be pushed into more hands by using the present interface or developing more user-friendly layers. Interaction between the consumers and their favorite celebrities and creators is one of the obvious ways to push technology into the hands of the common people. Billions of people will become familiar with the power of technology and gain exposure once crypto is adopted into the experiences of internet users.
The adoption curve would take a new look if every person, brand or website that benefits from decentralization was tokenized. Evolving regulations are bound to play a vital role in the development and adoption of crypto.
