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, amidst the collapse of the crypto market , with major players filing for bankruptcy, some companies are fighting to promote cryptos to the widest possible audience.
Promotions to encourage more and more people to use cryptocurrencies are ever more numerous and ever more spectacular.
If you hear that Bitcoin is dead , take a look at social media to see how popular it's becoming. Biggest stars (in terms of followers and audience) are now promoting cryptocurrencies, like Kylian Mbappé.
And, it’s not to everyone’s taste…
Cristiano Ronaldo dribbles with Binance
Cryptocurrency promotions have never been so strong and impressive. Indeed, the largest exchange platform, Binance , has partnered with footballer Cristiano Ronaldo. He is undoubtedly one of the best players in the world, but he is also, and perhaps more importantly, the most followed person on social media (primarily 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 to his friends) demonstrates his ambition for absolute power in the crypto ecosystem. He wants to dominate the market, and with a player like Ronaldo on his team, it's safe to say he's aiming high.
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? Kylian Mbappé has openly stated that he is "against" sports betting sites . He has never promoted himself with online gaming platforms, for example.
However, he agreed to promote the game Sorare . But for many people, Sorare remains fundamentally a gambling game. So, of course, it's not a Bitcoin casino , but there are risks involved in investing and losing money. It's a crypto football game with several elements, such as NFT card collecting and fantasy football gameplay. Conceptually, Sorare differs from a betting site like CloudBet , certainly. Nevertheless, players can lose money playing Sorare; that's a fact.
Of course, the debate has ignited a firestorm online, both on Twitter and in the comments sections of articles. The question is to what extent Bitcoin sports betting can be compared to the Sorare game . It's up to you to decide whether you're considering the mechanics or the objective. I'm not going to get into that debate myself. I like Sorare, and I like betting too 😉
Many internet users criticized Kylian Mbappé for what they called his hypocrisy. The lack of preventative measures is also a problem, as can be read in the SoFoot article.
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're a crypto newspaper, so naturally, we're not going to bite the hand that feeds us. The more people get 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, was already promoting Bitcoin back in 2016. It was scandalous at the time because Bitcoin was really unpopular. Today, we're no longer surprised to see celebrities showing off their NFTs and talking about cryptocurrencies.
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 lack the maturity to manage their budgets and understand the risks involved in investing. It's rarely discussed, but it does happen that people end up ruined by cryptocurrencies . (You can read our latest article on this topic here ). Yes, not understanding tokenomics or even doing fundamental analysis is dangerous for your portfolio.
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