A revolutionary new social media platform is turning celebrities and influencers into coins. BitClout, the CryptoSocial Network, takes everything we love about social media and instead of quantifying followers and likes it places an actual monetary value on the reputation of an individual.
“I received a random phone call, and the voice on the other end of the line asked me ‘Do you want to become a coin,’” says CELEB CEO Nik Richie. “Now people can buy a piece of me. And I will know my real value in society.”
With an architecture similar to Bitcoin, BitClout takes social network data and allows you to speculate on people and posts with real money—built from the ground up as its own custom blockchain. According to BitClout it “is a fully open-source project and there is no company behind it—it’s just coins and code.”
The BitClout blockchain has its own native cryptocurrency, called, you guessed it, BitClout. BitClout is decentralizing social media in much the same way as Bitcoin is decentralizing the financial system.
What Are Creator Coins
Everyone on the platform gets their coin that anybody can buy and sell.
BitClout’s one-pager, which is 7 pages, states: “Creator coins are a new type of asset class that is tied to the reputation of an individual, rather than to a company or commodity. They are truly the first tool we have as a society to trade ‘social clout’ as an asset. If people understand this, then the value of someone’s coin should be correlated to that person’s standing in society. For example, if Elon Musk succeeds in landing the first person on Mars, his coin price should theoretically go up. And if, in contrast, he makes a racial slur during a press conference, his coin price should theoretically go down. Thus, people who believe in someone’s potential can buy their coin and succeed with them financially when that person realizes their potential. And traders can make money buying and selling the ups and downs.”
BitClout recommends buying creator coins of those who you think will become more popular. Richie agrees.
“You are banking on the value of celebrity or entrepreneur—that their stock is going to rise—this distracts us from banking on followers. Since we have been on the phone, I went up a dollar,” he says. “Now I have a value, I am worth something in the world.”
According to BitClout’s website, “To buy someone’s coin, navigate to their profile and hit ‘Buy.’ Find a profile either by searching for it or by visiting the creator coin leaderboard. Profiles for the top 15,000 influencers from Twitter have been pre-loaded into the platform, meaning that you can buy and sell their coins even though they’re not on the platform yet. These “reserved” profiles have a ‘clock’ icon next to their names, indicating the owner of the profile has not joined yet.”
How Much Are You Worth?
As of this publication, one BitClout is worth $156.28 USD and Richie is valued at $298.82. Musk is worth $90,834.10, Ariana Grande is worth $27,519.26 and Logan Paul is worth $22,619.95.
He says that he is not planning on investing in himself, that is reserved for his community.
“I was shocked when I woke up this morning to see my value. It was an ego boost but also I am so appreciative that people outside of myself believe in me. I have big plans for the future and I hope I do right by the people who bought a piece of me,” he says.
When some of his fan base heard that Richie was now available for purchase they created signature art pieces to show their support—one especially dramatic work shows Richie on a rocketship emoji heading toward the moon.
Following in the footsteps of his idol Musk, Richie says, we’ve gotta think bigger. “Anybody can go to the moon, I want to go to Mars,” he says.