How To Succeed In Crypto Influencer Marketing
The global cryptocurrency market cap has reached over $2 trillion, with the US market expected to surpass $2.2 billion by 2026. The World Economic Forum estimates that by 2027, 10% of global GDP will be stored on blockchain technology. Cryptocurrencies are digital assets that allow pseudonymity, peer to peer purchasing, smart capabilities, and blockchain technology.
There are more than 4,000 cryptocurrencies and hundreds of companies listed as crypto exchanges, wallets, or services. More than half of the crypto market’s value is vested in altcoins, or meme-coins.
Crypto Influencer Marketing Partnerships
For many consumers the largest obstacle in cryptocurrency is education and experience in trading. For FinTech and crypto brands looking to advertise with influencers, selecting the right influencer can accelerate their audience’s willingness to learn or invest in cryptocurrency.
An experienced influencer marketing agency will build an influencer strategy that best communicates your product’s unique value proposition. Connect with an influencer expert to help your company stand out in the cryptocurrency market.
Top Crypto Influencers To Follow in 2021
1. Vitalik Buterin – 2.1M TWITTER FOLLOWERS
Vitalik Buterin is the co-founder of Ethereum and the world’s youngest crypto billionaire. Predominantly posting on Twitter to his 2 million followers, Vitalik is one of the most active speakers in cryptocurrency.
2. BitBoy Crypto – 1.1M YOUTUBE SUBSCRIBERS
One of the largest crypto influencers, Ben Armstrong, known as “BitBoy Crypto” has over 2.7 million TikTok followers and 1.14 million YouTube followers. While TikTok is Ben’s most-followed platform, he is widely recognized for his YouTube content and his community members, known as the “BitSquad”. One of his long-term sponsors is ByBit.
3. Ivan on Tech – 400K YOUTUBE SUBSCRIBERS
Ivan has been creating crypto content on YouTube since 2017. Some of his videos include “Building a Blockchain in Under 15 Minutes” and “Creating Your Own Cryptocurrency in 2021”. As one of the earliest blockchain creators, Ivan now manages his own blockchain academy.
4. The Blockchain Boy – 300K TIKTOK FOLLOWERS
Lucas has 300,000 followers on TikTok and is a key content creator in the tight-knit #Cryptok community. “The Blockchain Boy”’s TikTok account is sponsored by Coinbase, Binance, and KuCoin. Lucas has already leveraged his fast investment fame to Discord where he hosts a community of 20,000 members.
5. CryptoWendyo – 152K TIKTOK FOLLOWERS
Over 152,000 users tune in to Wendys’ TikTok for her daily crypto news. 70% of her TikTok followers are from the U.S. and over half of her followers are over the age of 35. Her most recent sponsorship is a crypto enthusiast networking meet-up sponsored by Blockfolio. Wendy also has affiliate links from Voyager, Celsius, and Crypto.com.
Cryptocurrency promotion has long been an area of regulatory action for social media platforms. As fraudulent scams pertaining to altcoins gain traction in 2021, we can expect there to be further regulations in the future.
While advertising regulations fluctuate across social platforms, influencer marketing remains one of the most popular strategies for cryptocurrency advertising. Partnering with a specialized influencer marketing agency can ensure blockchain/cryptocurrency companies are successful and compliant in their advertising strategies.
Crypto Influencer Marketing Examples
D’Amelio Family Pockets Crypto Wallet Sponsorship
Regulated crypto exchange and wallet, Gemini, partnered with macro-influencers on Instagram to grow reach and awareness. Lala Anthony, Loren Gray, and Cameron Dallas were a few of the influencers chosen for the campaign indicated through the hashtag #GeminiPartner.
The D’Amelio Family scored the highest engagement rate of the campaign at 14%. While the influencers chosen were not relevant to the crypto or financial space, the campaign intentionally aimed to introduce cryptocurrency to users with little to no prior knowledge of digital assets.
DAO Maker Markets With Micro-Influencers On #Cryptok
DAO Maker has long-term partnerships with many mid-tier and micro-influencers on TikTok like Han Dol Kim (@handolkimtt), Joshua Jake (@itzjoshuajake), and TikTok account @rivercrypto. While each influencer has under 125k followers, the creators have multiple videos mentioning DAO Maker.
Collectively, the influencers are able to boost awareness and conversion rates through their small targeted audiences. The crypto influencers also serve as conversation leaders in the comment sections of their videos, providing users with additional product education.
Crypto Influencer Marketing Do’s & Don’ts
- Do employ authentic advertising practices to build positive brand perception.
- Do be open minded to smaller, community specific social channels like Reddit, Twitter, Discord, and Telegram.
- Do consider influencer activations like conferences, influencer events, and meet-ups.
- Don’t pay influencers or talent agencies in cryptocurrency
- To ensure front end costs are covered most influencers and talent agencies prefer traditional payment.
- For altcoin advertisers specifically, paying influencers traditionally will help avoid the perception of a fraudulent promotion.