NFT.NYC is over; we now return to our normal scheduled programming. This time, John and I turn our attention to influencers in the space.
Token Gamer and NFT Insider have decided to combine forces to launch a weekly podcast, Mint One (formerly WAX Lyrical). John Nichols of NFT Insider and I will discuss a new topic every week, as well as feature special guests. If there’s a topic you’d like us to cover, make sure you let us know through the Token Gamer Discord or Twitter, or the NFT Insider Discord or Twitter. In last week’s episode, John and I re-opened the digital post bag and discussed some listener questions. This week, it’s a little bit different.
In last week’s episode, John and I carried out an immediate debrief on NFT.NYC as a special, one-off episode. This week, we return to a familiar structure and pick apart the problems of influencers in Web3.
Episode 28: The Danger With Web3 Influencers
I have worked for a decade in what I guess would be best called “the arts.” I have been a commercial photographer and writer for the bulk of that time and was, incidentally, there as social media influencers started to rise to power. In many ways, they were already in place, but their value hadn’t yet been realized. By 2018, not only had influencers started running damn-near every industry as tastemakers, they needed regulations, laws, and guidelines to stamp out some of the unethical practices occurring.
Finally, structure was given by making some actions illegal: “practices which may break the law are falsely claiming or giving the impression that an individual is acting outside of their business purposes or falsely representing themselves as a consumer; failing to identify a commercial intent behind a social media post; and omitting or hiding ‘material’ information.” In essence, you could no longer legally accept money or items in exchange for content and not declare it. While this has become a staple of Web2 influencers, some — far too many — Web3 influencers are hiding their actions in the shadows of a new industry, still being regulated. There ought to be no difference in almost all regards with Web3 content creation for remuneration, whether that be in fiat, crypto, or NFTs.
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