Until the launch of the social network BitClout, social media users played a rather passive role in the economy of influence. Content producers have historically received a portion of the value they create through targeted advertising and promotion, with social media companies generating most of the revenue while net consumers get nothing.
By comparison, the open source BitClout platform takes a back seat, allowing creators and consumers to interact directly and generate profits for each other without intermediary in every transaction.
This is how it works. Anyone who wants to join the platform can create their own creator coin that all other users can buy and sell depending on how they think the coin will perform in the future. Logically, a certain celebrity’s coin should rise in value when they announce good news about their careers, and should fall if they make a politically incorrect remark or if they are caught by the paparazzi doing something they shouldn’t be doing.
In fact, it’s all about monetizing influence and creating real value from your reputation on the platform. This gives fans or followers of social media a more active role in which they can also profit from simply placing bets on someone they believe in.
This means that regular social media users are no longer limited to audience only, while their favorite authors take home all the money from ads and paid advertising content. Taking monetization to the next level, BitClout is creating a new asset class based on the symbiotic relationship between individuals and their fans.
One of the first users to register their own creator coin on the platform is HighKey Enterprises, led by owners Jordan, Luke and Jackson Linz. After all, the idea of investing and reinvesting in their own personal brand is not unusual for brothers. In fact, the core idea behind HighKey Enterprises’ overwhelming success is continuous investment in personal branding and social media presence.
“The minute we heard about the BitClout idea, we fell in love with the platform,” says Jordan Linz, who revealed that he and his brothers Luke and Jackson have long sought a decentralized platform where influence is the currency. “What has been created has surpassed our wildest dreams, and we are even more convinced that the future lies with decentralized social networks.”
For all three, the launch of BitClout will open up more opportunities for social media and cryptocurrency proliferation in the future. By taking online monetization to the next level, HighKey is positioning itself as a major player in the future of influence trading, with HighKey Coin at the forefront. As such, it looks like the brothers are moving beyond their current position among the top 20 coin makers on BitClout.