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India’s
financial influencers are having a moment in the sun. Keen to tap their huge followings, online stock brokerages are lining up to offer them hefty commissions in exchange for more users.
Also in this letter:
Delhi police descend on
Online brokerages are fueling the financial inluencer economy
Hi, it’s Apoorva. Financial influencers are much in demand these days as India’s online stock brokerage firms, flush with cash, tap the growing community to bring some of their followers and viewers onto their platforms.
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BitClout aims to be the ‘influencer stock market’
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Synopsis
Bitclout, the world’s first blockchain-based crypto social network, lets users invest in the social clout of the rich and famous by buying their unique crypto token.
ETtech
BitClout wants to work as a stock market in which, instead of companies, people invest in the reputations of individuals. (Illustration: Rahul Awasthi/ETtech)
Mumbai:BitClout, a blockchain-based social network, lets users speculate on the social clout of personalities such as Indian Prime Minister Narendra Modi, Tesla CEO and SpaceX founder Elon Musk, and popstar Rihanna using a cryptocurrency of the same name. Its backers include prominent Silicon Valley venture capitalists, including Andreessen Horowitz, Sequoia Capital and Social Capital, who have invested close to $100 million in the platform.