Bull or bear market, creators are diving headfirst into crypto

Cointelegraph

Published Jul 23, 2021 11:13AM ET

Updated Jul 25, 2021 02:20PM ET

After an astronomical bull run into the beginning of this year that was followed by an abrupt halt and 50% drop since April, crypto markets are at a fork in the road right now. Where they go next could inform us about how market conditions impact mainstream adoption via artists, creators and celebrities who have been taking a greater interest in the space.

To date, the market for nonfungible tokens (NFTs) and social tokens has been anecdotally correlated to the broader crypto market. As creators bring in more fans from outside of crypto, we’re seeing that correlation diminish, albeit with a small sample size. If Bitcoin (BTC) and Ether (ETH) don’t break out of their respective slumps and we do enter a bear market, there is a strong case to be made that the growth of the creator economy will insulate social tokens from the effects of the rest of the market.

Kevin Chou got his start in esports gaming as the founder and CEO of Kabam, which was eventually sold for $1 billion. His journey into the crypto space began in 2018 when he co-founded blockchain ecosystem Rally and served as its CEO for two years. The firm allows content creators, developers and others to take control of their own digital economies. Chou later founded Forte, a game-centric blockchain platform, where he currently serves as chairman in addition to his position at Rally.

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