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The relationship between Social Media and Cryptocurrency: A brief overview

Part 2: Social Media Revolutionizing Creator Economy and Digital Platforms

In the previous section, we covered how a single tweet can affect crypto prices and how social media educates the masses. This section will discover how decentralized social media platforms provide a new and safe setup for content creators and industry giants. Also, we’ll look at crypto-based social media platforms.

Social media is constantly driving the masses’ interest in cryptocurrency and blockchain. Blockchain technology is aimed at providing decentralized social media platforms where you can post uncensored content. Other than that, these platforms enable content creators and influencers to deposit tokens into small contracts, earn passive income as digital money, and also allow instant transactions. Doesn’t it feel good to hear? The most exciting part is a creator can leverage his content by creating a personalized token as an elite-level membership pass. Similarly, as a unique source of community building, creators and fans can exchange value in a very secure environment, thus significantly revolutionizing the way you interact. This decentralized digital world provides a thorough market for content creators, greatly remodeling their economy.

Blockchain is a groundbreaking technology that impacts finance, music, media, and food industries through crypto-based social media platforms. Major crypto market giants like Facebook, PayPal, Google, and Apple are making the concept easy to understand, as they are investing hefty sums in various media channels to explain it. For enhanced brand loyalty and marketing services, some blockchain-based companies use social media to conduct webinars. You may be surprised that crypto-based communities like Hive, Honest, Bitfinex and Mamby provide a hefty reward in the form of Bitcoin to their participants for providing credible information about crypto, thus degrading any fake news.

Torum, a blend of Facebook and Twitter, is a rebellious SocialFi (Social, DEFI, NFT) Metaverse ecosystem. Search options and LinkedIn-like capabilities for network building, allowing communication with other businesses, make it a goal-oriented intimate forum. Similarly, Minds is an excellent alternative to Twitter in reclaiming informational power from corporations. The best thing is you receive tokens on every upload or interaction with other businesses. This platform does not scan your data for adverting purposes, thus proclaiming the new definition of privacy. DTUBE is an alternative to YouTube providing the exact results according to your queries and functioning as a decentralized search engine. The best thing is that it does not support ads, and earning is not restricted to the creator part, but consumers can also earn. Ignite is a decentralized blogging website, while Flote is a social networking platform providing freedom of speech.

I hope this has been helpful and that you can begin to engage with the exciting alternatives.

Hussam Abdulkhaleq is Senior Account Manager at Cicero & Bernay Communication Consultancy, an independent PR agency headquartered in Dubai offering new-age public relations consultancy to the UAE and across the MENA region. |