Up until the launch of the social networking site BitClout, social media users have held a rather passive role in the influencer economy. Content producers have historically been given a fraction of the value they generate through targeted advertising and promotional work, with social media companies pocketing the bulk of the revenue while pure consumers take home nothing.
In comparison, the open-source platform of BitClout relegates itself to the backseat, allowing creators and consumers to directly interact and generate profits for each other without a middle man taking his cut in every transaction.
Here’s how it works. Anyone who wishes to join the platform can set up their own creator coin, which all other users can buy and sell depending on how they think the coin will do in the future. Logically speaking, a certain celebrity’s coin should increase in value when they announce good news about their careers and should go down if they make a politically incorrect remark or if they were caught by paparazzi doing something they shouldn’t be doing.
Practically, it’s all about monetizing clout and creating real value from one’s reputation on the platform. This affords fans or followers of social media personalities a more active role wherein they can also make a profit simply by betting on someone they believe in.
This means regular social media users are no longer limited to being audiences while their favorite creators take home all the coin from ads and paid promotional content. By taking monetization to the next level, BitClout is creating a new asset class that is rooted in the symbiotic relationship between personalities and their fans.
One of the earliest users to register their own creator coin on the platform is HighKey Enterprises, led by its owners Jordan, Luke and Jackson Lintz. After all, the idea of investing and reinvesting in one’s personal brand is nothing out of the ordinary to the brothers. In fact, the core idea behind the staggering success of HighKey Enterprises is the repeated investment in personal branding and social media presence.
“The minute we heard about the idea behind BitClout, we fell in love with the platform,” says Jordan Lintz, who revealed that he and his brothers Luke and Jackson have long sought a decentralized platform where clout is currency. “What was created was beyond our wildest dreams, and we got even more convinced that decentralized social media is the future.”
For the three, the launch of BitClout will open more doors for social networking and cryptocurrency to proliferate in the future. By taking online monetization to the next level, HighKey positions itself as a major player in the future of clout-trading, with HighKey Coin at the forefront. As such, it seems the brothers are reaching beyond their current position among the Top 20 creator coins on BitClout.