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Matt Damon’s crypto.com ad – “fortune favours the brave” – has been labelled as “cringeworthy” by the Internet. Going viral after being advertised during Sunday’s NFL game, the Hollywood actor received backlash for his involvement as it appeared to liken historical achievements such as space exploration and mountaineering, which were depicted in the ad, to something as relatively uncommon as investing in crypto.
Matt Damon promoting the Singaporean exchange app has been coined the “Hollywoodization of crypto”. Damon, whose net worth is estimated at $170 million, is not alone on this particular Walk of Fame – Kim Kardashian, Tom Brady and Gisele Bundchen have likewise touted crypto. However, whether this trend indicates that crypto is rapidly undergoing mainstream adoption is up for debate. Others argue that the market’s unregulated nature means that crypto isn’t subject to the same restrictions and control other industries face.
HUH Token, which was first launched in December on PancakeSwap, has a strong marketing campaign that has seen its price rise by an impressive 6000%, accompanied by over 15,000 wallet holders. HUH are rumoured to have hundreds of influencers start promoting the token across platforms such as Instagram and Twitter on January 19th. But why is HUH’s use of influencer marketing predicted to give them more success than classic celebrity endorsements?
The key is in the difference between these two types of marketing. Celebrity endorsement relies on linking the individual’s fame to a brand or product. This strategy encourages figures who are idolised to associate with a product, causing people to want to buy it. By contrast, influencer marketing is a sort of word-of-mouth advertising that utilizes individuals who are trusted in specific bubbles. Thus, influential people build the brand’s image in their followers’ minds.
Moreover, wider reach is prioritised in celebrity endorsements – they avoid interaction. However, an influencer’s following is built on communication and receptiveness between the two parties. When you think of HUH’s emphasis on growing their community and eventually creating their own social platform, the MetHUH, it makes sense that they would target influencers who are engaged in a community. In the White Paper, HUH mention that part of their roadmap entails sentiment tokens being rewarded upon both content production and consumption – data becomes the currency.
Furthermore, in celebrity endorsements, they become the face of the brand’s message. Celebrities are even required to disassociate themselves with the brand’s competitors. Whereas in influencer marketing, the influencers are considered ‘specialists’ in regard to their community’s niche, and go on to create the brand’s message on their behalf. As HUH have branded themselves the first ever “uti-meme” (combining the principles of utility tokens to foster functionality with the virality of the “memecoin”), HUH allegedly partnered with influencers who had once unexpectedly been the centre of Internet attention as memes.
HUH Token are showing the importance of learning the difference between celebrity endorsements and influencer marketing, so the crypto market can take advantage of the one that best fuels their image. Come January 19th, the whole world will witness the height of influencer marketing, as it merges with crypto to become the ultimate superpower.
Learn more about HUH Token here:
HUH Official Swap- https://swap.huh.social/