Today, there are over ten thousand crypto tokens collectively worth over a trillion dollars on the market. With the strong potential for profit and the market’s volatility, investors look to KOLs for insights about crypto companies and the future of blockchain technology.
But what is a KOL, and who are KOLs in the crypto world? Read on to learn more about this crypto slang term!
What Is A KOL?
KOL is an acronym for “Key Opinion Leader”. A key opinion leader is a person who has expert knowledge in a particular field. By immersing themselves in this field and conducting work related to it, they cultivate trust and credibility.
The public is more likely to respect their opinions because of their reputation. This makes them useful for marketing, as they can be seen as an authority in their industry.
What Makes A KOL Different From An Influencer?
Both KOLs and influencers may collaborate with companies to promote their services or products. In traditional marketing terms, there’s a big difference between them – mainly in how they primarily spend their time. While influencers use social media platforms to build their audience, KOLs are typically subject matter experts practicing professions related to their field of expertise.
While an influencer may expand to other niches, a KOL is typically a leader in a specific niche or field. An example of influencers would be health and fitness content creators on TikTok. A KOL in the same field would be someone like a professional athlete who may also be active on social media.
Traditional marketing also used to distinguish influencers from KOLs based on their social media use. An influencer was typically someone whose main goal on social media is to increase their impact by gaining more followers. A KOL’s use of social media posting, however, was typically complementary to their daily work.
Today, the terms are used interchangeably in marketing. Now, someone who is considered a KOL may also be called an influencer by mainstream media.
Learn More From These Crypto KOLs
Who are KOLs for blockchain projects and crypto companies? Check out this list of KOLs to find out why they’re so influential.
Vitalik Buterin is the co-founder of Ethereum, one of the world’s biggest and most valuable crypto tokens. He is considered one of the best subject matter experts for blockchain and crypto because of his work with Ethereum and as a writer and developer for the Bitcoin community.
Vitalik has over 3.5 million followers on Twitter, where he frequently shares opinions and reviews of blockchain projects. His Twitter and Bitcoin Magazine articles are a valuable resource for learning more about blockchain technology.
Irene Zhao shot to crypto stardom when she created an NFT collection called IreneDAO with her business partner Benjamin Tang. The collection based on her Telegram sticker pack sold out in less than an hour for over $5 million. The Singapore-based influencer is a former commodity broker and chief marketing officer of Konomi Network, a decentralized finance (defi) company.
While Irene is best known for her stylish Instagram posts, her collection’s success has inspired her to experiment with integrating the creator economy with Web3. Irene frequently shares her views on crypto projects and digital currency on Twitter, where she has over 161,000 followers.
Erik is the CEO and co-founder of the crypto exchange platform Shapeshift. He’s also a co-founder of the Bitcoin digital wallet Coinapult. Eric posts about defi, cryptocurrency transactions, and tradable tokens on Twitter, where he has nearly 600,000 followers.
Because of his experience, he is deemed one of the best subject matter experts in crypto entrepreneurship. You can read his articles about blockchain network tech and Bitcoin on Medium.
Tesla Motors CEO Elon Musk is notorious for influencing capital markets with his tweets, but recently he’s become an enthusiastic promoter of crypto and decentralized exchange. With over 80 million Twitter followers, his expert view has a powerful effect on tradable tokens and projects. Elon has been dubbed “the Dogefather” after his tweets boosted the meme-based cryptocurrency venture Dogecoin.
Andreas is a Greek-British entrepreneur and author of the books Mastering Ethereum, The Internet of Money, and Mastering Bitcoin. He is active on multiple social media platforms, particularly on YouTube where he posts videos on cryptocurrency transactions and tradable tokens. The channel also has live streams and interviews about crypto and blockchain protocol.
Newbies should check out his website, where he offers invaluable resources and workshops about cryptocurrency and non-fungible tokens. He also has two podcasts that can boost your crypto knowledge: The Unscripted Podcast and Speaking of Bitcoin.
KOLs and influencers have become synonymous in the past few years, but one thing’s for sure: when a KOL speaks, the public listens and trusts their opinion. If you’re curious about new coins or crypto projects, it’s worth it to look up a KOL’s advice. Their experience in the field gives them better credibility, and their ideas can heavily influence the success of a cryptocurrency venture.