Reflecting on general Twitter-based marketing practices, it’s apparent that the focus is often more on growth (e.g. vanity metrics) than monetization.
This realization led me to appreciate JK Molina, a Twitter marketer who emphasizes ‘Likes Ain’t Cash.’ Despite growing his follower base to 200K+, he found that his earnings were comparable to some with fewer followers. His experience highlights that follower count doesn’t necessarily equate to financial success.
And it’s true. Me, along with others I know, earn more outside of Twitter than those with tens or hundreds of thousands followers. Of course, a large following can garner significant social capital and give you fame. But it doesn’t always translate to revenue, proportionally.
This notion made me consider communities in Web3, crypto, NFTs, etc., where monetary value has become central. In the world of “crypto” like BTC or Ethereum among others, communities have formed around these currencies themselves — an unprecedented phenomenon in online history.
Just imagine if there were communities dedicated to the US Dollar, Euro, or even Mexican peso. It would be considered absurd, right? Well, tech companies and individuals created their own cryptocurrencies and witnessed their values rise as they garnered attention and hype. This has subsequently led to extreme religious behavior, whereby members have started looking to the technology as “God.”
However, this trend also brought about regulatory issues due to its questionable novelty from a behavioral standpoint. It raises questions if we’re idolizing money too much by forming communities around it — reminiscent of the Atlantis legend where technology was deified leading to self-destruction.
Could our current technological advancements and currency-focused communities be following a similar trajectory? If so, how can we redirect people towards healthier paths?
The concept of communitization of money seems prevalent today; I plan on delving further into this topic in the future. More specifically as it relates to micro or nanopayments.