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NFTs, Clubhouse, Spotify’s acquisition of the Locker Room app, and many other investments, acquisitions, platforms and technologies that have emerged recently are all in support of the rise of the creator economy—providing tools for creators to create and more importantly, distribute, promote and collect funds through smart contracts, blockchain and cryptocurrency. Among these advancements there’s a new model, which aims to be a massive unlock for the creator economy: BitClout.
BitClout, described as a social crypto for celebrities or a social currency for influencers, is more like a new social economy that stakes on reputation. Taking inspiration from Bitcoin and Ethereum, the portmanteau is a verbal play on Bitcoin (the cryptocurrency it currently uses) and clout (a word used to gauge levels of influence).
It’s undeniably a moment for creators, but it’s a bigger moment for brands to carve out their relationship with creators. The following are four reasons BitClout is the platform for brands and marketers to watch:
Coins for individuals, influencers and CEOs
Coin creation isn’t limited to artists, musicians and viral TikTok makers. If you create value—any value, to anyone, which we all do—you may consider making yourself a BitClout coin. If you have creatives as your clients, you may consider working with them to create their coin. BitClout Creator Coins are an opportunity to support and opt into not just what someone is currently putting out there, but also investing into their potential. Craig Clemens, the No. 1 verified creator on BitClout and a leader in the marketing and advertising industry, says that unlike other social platforms that are centralized, the root of BitClout operates as a value exchange, a place offering long-term support as a coin holder as well as a place where if one gives instant value, they have the potential to receive monetary incentive or BitClout “diamonds.”
Direct access to influencers
We’re already seeing a rise of prevalence toward micro and local influencers. BitClout offers direct access to both as well as to the direct communities that support them. On par with the evolution of tech advances and innovation at the 10-year mark, the influencer industry is likely due for a disruption. BitClout may very well be that disruptor, largely due to its operation on the blockchain, offering virality as well as traceability and direct access to influencers and their built-in communities. BitClout is a hot spot for a pool of creators and their communities across industries, and offers a great opportunity for brands and marketers to have direct engagement and a relationship of mutual support.
Topics and trends for your industry
BitClout Creator Coins aren’t just limited to your name. Creator economy entrepreneur Jonathan Swerdlin shares some potential ways to use the coins including projection meters to indicate crowd sentiment and world events, crowdfunding alternatives, popular icons, charity (ex. @MLK) or even megatrends.
As marketers, we can use BitClout to trendspot and tie back to our client brands. For example, @Kelp coin is held by Courtney Boyd Myers, founder and CEO of the kelp snack and kelp burger company Akua. Think about it like the early days of Instagram when it was the resource for all things related to a certain word, city or topic. BitClout coins could operate similarly for brands, marketers and creators, wanting to niche out expertise on a certain topic. The added benefit could be people then investing in it and brands and marketers partnering to develop their own theme-based coin. With the rise of plant-based living, some may feel inclined to back @Kelp, seeing it as an emerging future of food trend. As the coin value increases, this allows marketers to tap directly into those trends.
It was announced last week that BitClout users can now share TikTok links through their posts. This could mean an influx of Gen Z users to BitClout. This integration will likely allow creator-added cross-platform views, potential coin investment, and the opportunities to receive “diamonds’” or tips for work created on TikTok. Because BitClout is decentralized, BitClout describes itself as a protocol, not a company: “a new generation of applications that the entire world can build collaboratively, unlocking the full potential of human ingenuity.”
Even though you may be learning about BitClout for the first time, communities and companies are already being created around the new social platform. This BitClout community is active, excited and eager to watch this next wave of marketing and creator engagement unfold. As marketers, we’re tasked with keeping our ears to the ground and staying on top of emerging trends. BitClout is here and has the capacity to revolutionize the way we as marketers and brands do business.