Several experts addressed issues related to the role of social media and influencers in the crypto space at the World Crypto Forum (WCF) in Davos.
Speaking at the WCF Crypto2030 on Jan. 15, Cointelegraph ambassador and editor-at-large Kristina Lucrezia Cornèr spoke with other panelists, including The Birb Nest founder and CEO Adrian Zduńczyk on how crypto influencers and media publications may impact the space. According to Cornèr, many people outside of the industry want to know how to become rich using crypto, but the space offers solutions to different problems through blockchain technology.
“I would say we are in a stage of greed for the industry, and this is something that is pushing the whole crypto community forward,” said Cornèr. “Obviously, like not 100%. But this is what makes it powerful right now. And I believe that the next circle of this crypto life will actually be about use cases and applications.”
We’re starting session 3️⃣’s panel on social media and influencers in crypto!
Join us to hear more about impact of social media influences on market dynamics in the crypto landscape! ✨️ pic.twitter.com/sURg5bhBKt
— CRYPTO2030 (@WCF_2030) January 15, 2024
Related: WEF Davos 2024: A focus on AI and clearer crypto regulations
The Cointelegraph editor-at-large suggested investors consider the motivation behind their entry into the crypto space — possibly drawn in by influencers advertising significant gains. Though many projects within the industry aim to be democratized, there is a risk of new investors being drawn in by misleading or incorrect information online.
“[T]he same influencers have been the torch bearer of the industry and what it here today is about, we are sitting because there is no business school that is speaking about crypto,” added Bilal Bin Saqib, founder of Web3 Pakistan. “Essentially these are the people who’ve been there, whether it’s a bull market or a bear market, and really kind of invested time to go through white papers, to go through economics, and if they put in their time and effort and meet certain calls with [do your own research] essentially.”
The WCF is running parallel to the World Economic Forum event in Davos, where industry leaders and policymakers gather to discuss finance, regulations and other issues affecting the world economy. Cointelegraph’s team is on-site at the event.
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