Are French Crypto Influencers Playing by the Rules?

Are French Crypto Influencers Playing by the Rules?

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The crypto landscape is rife with discussions about the ethics surrounding influencers in the digital currency realm. At a recent CryptoXR roundtable, a debate titled “New Gurus of Web3: Hype vs. Credibility” sparked critical conversations about the integrity of crypto influencers, particularly within the French market.

Defining an Honest Influencer

The discussion was led by Yrile, a prominent influencer with over 85,000 subscribers on YouTube, alongside notable figures such as Emi, a well-known personality in the French crypto community, Quentin H., founder of Markchain, CryptoEdge, creator of BlockTV, and Dimitri Veiga, founder of FranceCryptos.

As the dialogue unfolded, critical questions were raised about the role of influence in the crypto space. Emi emphasized that a good influencer is one who upholds the truth:

A good influencer never lies to their community

Dimitri Veiga added that an honest influencer does not take the easy route; their content is not solely focused on what drives clicks. The consensus was clear: a trustworthy influencer speaks the truth and does not prioritize click-bait content. This brings up a crucial dilemma: How can we discern if an influencer is being truthful?

While some communications may appear to be overly positive or persuasive, many influencers employ subtler tactics, blending positive and negative points to create a veneer of neutrality. CryptoEdge pointed out the importance of transparency in collaborations, stating:

The minimum requirement is to disclose sponsorships and any compensation received from sponsors

This raises the fundamental issue: is it even possible to place complete trust in any influencer, regardless of their honesty? Instead, the focus should shift towards detecting red flags in both sponsored and unsponsored content.

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The Importance of Conducting Your Own Research

As a constant reminder in the realm of crypto, the mantra is clear: Do Your Own Research (DYOR). Individuals should not rely solely on influencers for guidance. When making investment decisions, the responsibility lies solely with the individual.

Even influencers may believe their objectivity, but as Emi aptly noted,

When you’re paid, it’s hard to remain truly objective

To make informed choices, it is critical to cultivate personal opinions based on diverse sources and viewpoints. Emi further stressed the potential need to scrutinize the project’s social media presence, particularly in relation to sponsored collaborations:

Often, the projects that pay the most are the least substantial

While this observation should not be generalized, it serves as a cautionary note regarding projects that frequently collaborate with lesser-known influencers who may lack expertise.

In pursuit of greater transparency, Emi suggested the creation of a tracker to monitor the performance of cryptocurrencies recommended by influencers, potentially illuminating those who promote dubious projects lacking long-term viability.

In summary, determining whether an influencer is dishonest can be quite challenging. Those who repeatedly endorse low-quality collaborations while producing content primarily designed to drive clicks should raise suspicions. Ultimately, the most effective protection against misinformation is to carry out essential verifications before taking any action.


Disclaimer: Cryptocurrencies are a high-risk asset class. This article is for informational purposes only and does not constitute investment advice. You may lose your entire capital.

Source: Roundtable “New Gurus of Web3: Hype vs. Credibility” at CryptoXR

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