July 26, 2022
NFT influencers play a vital role in the NFT space, especially on Twitter. However, recently, more and more NFT influencers are simply disappearing. Popular accounts like @crypto888crypto, creator of 888 Inner Circle, and @NFTethics, the NFT project exposers, are no longer active in the space. There are others, and because of the bear market, they won’t be the last to go from tweeting about NFTs daily to having an inactive account.
The bear market has seen a decline in NFT influencers
It’s hard to ignore that we are currently in a Crypto/NFT bear market. Since the start of the year, Bitcoin and ETH have fallen over 50% in price. Because they are the two biggest cryptocurrencies by far, this has had a massive impact on the overall market.
Significantly, more than 90% of NFTs live on the Ethereum blockchain. This is great for ETH during a bull run, but now as crypto struggles, the effect is enormous.
Now, because people have seen their assets fall in price, fewer people are buying NFTs. NFT influencers can no longer tweet about NFTs and expect hundreds of replies and retweets.
Significantly, there have also been several high-profile NFT influencers who have used their following for-profit and even made or taken part in dubious promotions and scams through ‘shilling’ and other methods.
However, most of these people are genuine and trying to promote NFTs, artists and technology.
NFT Influencer NFT Ethics is no longer active on Twitter
With NFT security becoming a huge concern, NFT Ethics gained a considerable following this year. Describing their role in the community as “Uncovering inconvenient truths about this digital kingdom and its most influential players to address the ethical issues and foundations of Web3”, they were well known for researching NFT projects in depth.
No one was safe, and NFT Ethics raised serious questions about scammers and high-profile NFT influencers’ role in the space.
The end of NFT scams?
However, since May 17th NFT Ethics has not sent a single tweet. It is unclear whether or not they will come back or if they lost access to the account.
But, with over 85 thousand followers and a background in raising NFT project red flags, it is somewhat of a loss for the NFT community. Unfortunately, scams are still around, and many others in the community are working hard to expose scammers.
What happened to NFT influencer 888?
Another one of the NFT influencers missing from Twitter is the popular NFT creator @crypto888crypto.
NNFT detective and ‘on-chain sleuth’ @ZachXBT has raised serious questions about 888 and his numerous NFT projects. In a Twitter thread yesterday, ZachXBT stated, “888 made $13m+ across 3 NFT projects over six months and has been missing in his Discord since March and on Twitter since May. Rip to all those holders.”
888 hasn’t tweeted since May. Or, shortly after the thread by Zach came out. 888 tweeted and said they are going through ‘personal issues’ but will be back online soon.
Looking after your mental health and the people around you is incredibly important. NFTs should always come secondary to ensuring you and your family are healthy. However, the quote tweets suggest not everyone is convinced about the tweet by 888 and its timing.
NFT influencers are here to stay!
Popular characters will emerge as long as NFTs are popular on social media platforms like Twitter. Another question is whether NFT influencers are a force for good or not in the NFT community.
Of course, some people will always take advantage of their followers, as with all walks of life. But, for everyone like that, there are hundreds of people working to ensure the NFT space is welcoming, inclusive, safe and fair.
About the author
Murtuza Merchant is a avid follower of blockchain, cryptocurrencies and NFT.