Influencer marketing is nothing new in the world of advertising. Pretty much every medium to big brand (and even smaller ones) have at some point utilized the reach an online influencer has. As marketing goes, it is a brilliants strategy. Why trust a billboard advertisement, an online overlay, or a TV commercial? It is impersonal and you know there is a marketing team sitting behind it hoping you will buy their product or service. Instead, by enlisting a musician, a YouTuber, or any other public figure that people trust and identify with, marketers can get their potential customers in a relaxed state of mind. It will come as no surprise, then, that the cryptocurrency community also has its influencers. But who are they, exactly, and how does it work? And what other hustles are there in the crypto-community?
Telegram is where it all starts
Anyone who has been looking into ICOs will know that the messaging app Telegram is the place to be when it concerns news about upcoming projects. Many influencers can be found here, alongside channels that revolve around brainstorming, debating, networking, and promoting. There are even rumors about secret channels exclusive to ‘whales’ (highly influential cryptocurrency traders) where promoters are charged a huge sum of money to promote their projects. Telegram is where it all starts in the run-up to an ICO. It is here where the initial interest is gauged and generated, it is here where ‘bounties’ (free cryptocurrency tokens) are offered to incentivize users to come aboard, and it is here that all questions concerning a given ICO are answered.
Bounty hunters are on the paper trail
Bounties, which is essentially giving away free money, is an incredibly popular method of marketing in the cryptocurrency community. Compared to investing in online advertising on Google and Facebook (before the bans), bounties have proven to be not only cheaper but also much more effective. Some ICOs have offered to give free tokens to anyone who can get their friends on board as well. This system works well for all parties involved. For the ICOs it is essentially free marketing, as the tokens have no actual value at the time the bounty is offered. For the investors, it is free money that will acquire value as and when the project takes off. The bounties have of course created a whole new job for people who spend their entire days completing small tasks online in exchange for bounties.
What are the bounty tasks?
Bounty hunters are, in a sense, commission-only freelance employees of the businesses behind the ICOs. The teams behind the ICOs may ask a bounty hunter to join a specific Telegram group, post about the ICO on their social media profiles, or vote in an online quiz about the ICO. It could also be a more complex task, like translating the ICO’s website into a different language or produce a short video to help promote the ICO. This is a great way for the ICO teams to have a series of small promotional tasks done without having to be out of pocket.
Are you a crypto-hustler? Are you an influencer or bounty hunter? Share your experiences in the comment section below.