This is not financial advice but simply my own personal views, beliefs and opinions.
There are thousands and thousands of different cryptocurrencies being traded in this market. This brings both a great challenge as well as a great opportunity. The opportunity lies in finding a true gem amongst thousands of tokens that serves no real life purpose. The challenge lies in being able to find such a token.
The main challenge for a retail investor to find such a token lies in the lack of marketing of quality tokens. The worse a project is, the more likely they are to rely on marketing for their token, such as paying Twitter influencers and YouTubers to push their coin. True quality tokens are likely not to rely on marketing whatsoever. This is because the attention they try to gather are usually from actual enterprises, financial institutions and banks as opposed to retail investors. Don’t get me wrong, there are a lot of great people on Twitter and YouTube who share very useful information about actual projects but sometimes it can be hard to know which ones to trust, especially if you’re new in this space.
The incentives when it comes to Patreon is different, since the better information you share, the better reputation you will get over time, which brings more people in. If you provide bad information, your reputation will suffer. This is different from a lot of influencers on Twitter and YouTube who may be financially incentivized to market a certain coin, since they might be paid to do so and it’s most often the worst projects that pay these influencers. Think about what that means for the average retail investor.
I actually believe this is the reason why you see a lot of projects that work with some of the largest financial institutions in the world, such as Quant, which have very little “hype” amongst the broader crypto market. Other coins that would be considered “meme coins” with funny names are being pushed as the “next Bitcoin.” It’s almost funny to watch!
This is why I believe Patreon can be the perfect medium for people who wish to find and share the best possible information out there. The incentives align both for the creator as well as for the user.
