The crypto world is emerging from its early teens’ days. Like all teenagers, it was all over the place, emotional and rebellious with abrupt mood swings, oscillating between fanatic cliques and isolated nerds. Now, as it matures, it is in an energetic, adventurous, and risk-taking phase.
Understanding and navigating the tumultuous waters of crypto adolescence is a complex task, further complicated by its lack of history. This complexity is why influencers are so critical to make sense of what is happening in the cryptosphere.
Not everyone has the time to look up and analyze hundreds of new projects, filter out the obvious hustlers out for a quick buck, evaluate new projects intrinsic value and chances of success, follow the progress of existing projects, plot the assets charts, and graph and, when all is done, still invest more time in sharing the knowledge they gained.
Regulators are lagging, desperately trying to catch up with the innumerable doors opened by decentralized technologies. As a result, for better and for worse, there is little to no institutional overseer to provide some level of external validation to projects, and investors can only trust their gut instincts and research skills to decide which projects are worth investing in.
The finance world should have been the one documenting, analyzing, and assisting non-finance people in navigating the nascent crypto-world. Instead, they felt threatened by it and did everything they could to strangle it out of existence. They started by ignoring it or ridiculing it as a tech fad that would naturally die out.
When it did not die, they started warning about its dangers, expecting that fear of risks would be enough to kill it.
As it persisted in not only living but also growing, they enlisted the regulators, with whom they shared a long and complex history, to stamp it out. This stage was combined with effective propaganda campaigns to associate crypto-currencies with criminal and terrorist activities, skilfully omitting to mention that the crime-related crypto-transaction percentage is in the low single-digit.
Against these goliaths of the finance, regulatory and media world stood only one flimsy protective wall to keep crypto from being bulldozed out of existence — namely, the crypto-influencers.
From the October 2009 publication of Satoshi’s white paper and its adoption by a few dreamers willing to build it to a crypto market that topped $2 trillion value in April 2021, the road has been bumpy and had to trail blazed fiery roads through unchartered territories.
Aside from a few lines of codes, what made crypto growth at all possible was the emergence and tireless activity of crypto-influencers. They were central in bringing in the miners and the nodes. They were a core element in building a decentralized network with no marketing budget, no support other than a stubborn belief in the ability to use these few lines of codes to start building a better world. But, of course, that required spreading the word and onboarding an ever-growing number of users.
Early crypto-influencers had only a few dozen followers, but from that confidential core seed, the crypto-audience grew to tens of millions of crypto-users spread globally.
Today’s influencers are very different from those from the crypto beginnings and are divided into two main categories:
Vitalk Buterin, the creator of Ethereum, and Changpeng Zhao, of Binance, are shining examples of that type of crypto-influencers. They are the people who are building the cryptosphere infrastructure, and their words are beacons.
Fighting for an industry that, from its inception, was fueled by the sheer willpower of those who believed in its potential creates new roles and new value as it grows.
Today’s crypto-influencers need to leverage centralized social media platforms to monetize the time they spend informing people about crypto trends and opportunities.
For the second category of crypto-influencers, this means that only a fraction of the crypto investors and traders spend the time and efforts to share their knowledge, and the entire crypto-sphere lacks access to the crypto-financial insight they could gain from those hidden crypto investors and traders.
Hord opens a new avenue for crypto investors and traders to share their knowledge independently of centralized social media platforms without investing any time other than the setting-up time.
Crypto investors and traders are Hord’s Champions. They share their investment and trade activity and open hPools. hPools can be joined by their followers and update every pool member investment to mirror the Champion’s portfolio movements. Even better, as a single transaction updates both the Champion and the pool members holding, Tx fees are divided between hPool members and become insignificant.
This is how crypto-influencers build an entire industry, from an intimate group of techie geniuses with an ideal to a global movement that is reshaping the world.
Now, with Hord, crypto-influencers can add asset management to their core functions.