Is TikTok the new Marketplace for Crypto?
People from Generation Y and Generation Z can tell you about the importance of Social Media especially for Businesses. Since it is now a fixed part of every individual’s lifestyle, there has been a huge emphasis given to it by big corporations and SME’s alike. In fact, ask any company head and he would tell you that they are using or planning to utilize the power of social media to reach out to customers. People spend so much time on Social Media these days and about 50% of their time is spent on Platforms such as Facebook, twitter, Instagram, Youtube and the latest major one “TikTok”. A platform made for young adults and kids with entertaining filters added over frames so users can create their own content. Chinese based, the platform has been used all over the world and is the latest thing in social media. It is so powerful that users are branching out and sharing its content on other platforms as well. With all this said and done, Cryptocurrency and their users are not some people one would expect to find on TikTok.
Popular Altcoin DogeCoin (DOGE) had huge success when TikTokker James Galante posted a video with the message that buying DogeCoin would make everyone rich. Stating that DogeCoin right now is worthless so buying it now will get you get $10,000 when its price hits $1. Now whether this is true or not, it certainly attracted a lot of attention from the TikTok community. Having 73,000+ likes and 6,000+ comments and a lot more views at the time of writing, we can definitely say that it went viral. To put the intensity of the result in numbers, DogeCoin had a 683% increase from its average volume over the past year. Its price went up by 70% this Wednesday from $0.0023 to $0.0044. Not sure if he or DogeCoin expected this piece of influencer branding to have such a huge impact but it did and to add emphasis, might have opened the door for many other cryptocurrencies who see this as a major opportunity.
TikTok has 800 million users at the moment with 69% of users between the ages of 13-21. As crypto companies know, the younger generations are tech savvy and the future of the world so marketing activities must target them as well. Campaigns from other companies where brands try to incentivize younger audiences through learning about crypto or future saving investments have not worked out that well but this trending content creation application might just be the way to go as proved by DOGE. Now other brands want to get in on the action as well. Justin Sun from TRON (TRX) and Colin Miles from Zilliqa (ZIL) have tweeted saying how their marketing campaigns for TikTok are already in motion and will be looking to replicate the same result. In any case, I am 100% sure that we are going to see some big crypto companies make their moves very soon so get ready to see some catchy crypto content on TikTok.
What are your thoughts on this? Is TikTok really the way to go? What influenced you to start Crypto? Do you watch content on TikTok? What are your thoughts on DogeCoin? Please let me know your opinions in the comments below and we will definitely feature them on our platform!