This is an opinion piece. It means that a journalist has decided to take up his pen to share an "idea", an "opinion". He does not think he holds the supreme truth of the Greek Gods. In other words, it means that the debate is open. If you want to express yourself, the comment space is made for that.
Recently, in full fall of the crypto market, with major players filing for bankruptcy, some companies are fighting to promote cryptos to as many people as possible.
Promotions to encourage more and more people to use cryptocurrencies are ever more numerous and ever more spectacular.
If you hear that the Bitcoin is dead, go to social networks to see how much popularity it is gaining. These are the biggest stars (in terms of following and audience) who promote cryptocurrencies today, as is the case with Kylian Mbappé.
And, it’s not to everyone’s taste…
Cristiano Ronaldo dribbles with Binance
Promotions for cryptocurrencies have never even been this strong and impressive. Indeed, the largest exchange platform Binance formed a partnership with football player Cristiano Ronaldo. He is certainly one of the best players on the planet but he is also and above all the most followed person on social networks (mainly on Instagram).
An advertisement from him can have a huge impact. He is an idol for many people around the world.
Here, Binance founder Chanpeng Zhao (CZ for short) shows its desire for all power in the crypto ecosystem. He wants to dominate the market and with a player like Ronaldo in his team, we can say that he is aiming straight for the goal.
Khaby Lame plays Binance “superhero”
Binance has also partnered with the biggest influencer on the TikTok platform: Khaby Lame. He has over 145 million subscribers. Yes, that's more than the population of France, Germany and Belgium combined. With TikTok, Binance is targeting an even broader market.
Do you understand Binance’s marketing strategy? Partner with the number 1s on social networks. No matter the audience, the age, the target. The important thing is to make yourself known.
Moreover, for some time now, TikTok has become a widely used social network among crypto influencers. With short videos and very simple explanations, crypto language is quickly absorbed. While YouTube remains a good learning platform, TikTok remains much simpler to use. Better yet, the algorithm can win influencers over to a larger audience more quickly.
So, if you use TikTok, you won't be surprised to see more and more people talking about NFTs (especially) and cryptocurrencies in general.
Kylian Mbappé and the promotion of the Sorare game
Recently, it was the player Kilian Mbappé who became the ambassador of the crypto game linked to Football: Sorare. This is perhaps the news that has caused the most ink to flow. Judge for yourselves the Kylian Mbappé news:
Why? Kilian Mbappé has openly made it known that he is "against" the websites of sport bets. He has never promoted with online gaming platforms for example.
However, he agreed to promote the game sorare. However, for many people, Sorare remains fundamentally a gambling game. So, of course, it's not bitcoin casino, but there are risks of investing and losing money. This is a game crypto foot featuring several elements like the NFT card collection and a fantasy football game. In concept, Sorare is different from a betting site like CloudBet, certainly. However, players can lose money when playing on Sorare, it is a fact.
Of course, the debate ignited the web, whether on Twitter or under articles. The question being to know to what extent we can compare the bitcoin sports betting gambling sorare. It's up to you to decide whether you consider the operation or the purpose. I am not going to enter into this debate, personally. I like Sorare and I like betting too 😉
Thus, many Internet users have criticized what they describe as hypocrisy on the part of Kilian Mbappé. It is also the lack of prevention which poses a problem as we can read in the article by SoFoot.
Kylian Mbappé remains one of the highest paid players in the world. Some criticize him for making money from this advertising when he doesn't need it. The others, his audience (to whom he promotes) of course do not have the same means…
Final Word on Using Celebrities to Promote Cryptocurrencies
You have to know how to distance yourself from what you read. As always, nothing is black or white. It's a very good thing, in absolute terms, that such well-known and appreciated celebrities are talking about cryptocurrencies.
We are a crypto newspaper, so obviously, we are not going to spit in the soup. The more people are interested, the bigger the ecosystem becomes. Should we prioritize quantity over quality? That's another debate. Overall, we can't complain about these massive promotions. Nabilla, the first reality TV influencer, had already promoted bitcoin in 2016. It was scandalous at the time because Bitcoin was really not popular. Today, we are no longer surprised to see stars show off their NFTs and express yourself on cryptos.
Are they doing it for a good cause? Not all. I know that the fees and prices of sponsors have a lot to do with their interest in cryptos….
Honestly, do Ronaldo, Khaby Lame or Kylian Mbappé know anything about cryptocurrencies? Perhaps their wealth managers invested for them? Are they convinced of the advantages of blockchain technology? Can they talk about it with relevance and accuracy?
Nothing is less certain.
Perhaps that, after all, is the real problem; Encourage populations who do not yet have the adequate knowledge to understand money and even more so, cryptocurrency.
Some people do not have the maturity to manage their budgets and understand that there are risks in investing. We don't talk about it much, but people who end up ruined with cryptos, it exists. (You can read our latest article on this subject here). Yes, not knowing the tokenomics nor even dofundamental analysis is dangerous for your wallet.
So, there you have it, promoting cryptos is good. Explaining the blockchain, preventing risks, demonstrating technical innovations, presenting crypto projects (other than speculative), opening up ethical questions, etc., is even better.
Note: No financial advice is given in this or any other article on zonebitcoin. This is information of which you are the sole judge and master. Be responsible with your investments and only invest as much as you are willing to lose.
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What to say ? You analyzed Inès completely well (yes I recognize your writing and your same spelling mistakes that I find in all your articles :p). I like what you wrote. I would like to see more opinion pieces.
ah if you know my spelling mistakes, then I'm trapped 😉 I really enjoyed reading you too. THANKS. Sincerely. Yes, I'm going to write more opinion pieces