Cryptocurrencies have become one of the most popular topics for discussion, especially among internet savvy people across the globe. Many big names in the tech and industry space have openly supported digital currencies, while some have also criticized them.
Extending the list of celebrity crypto supporters, Felix Kjellberg, owner of world’s most subscribed YouTube channel PewDiePie, is edging closer to Bitcoins and other cryptocurrencies. The Swedish Internet sensation has signed a deal with DLive, a blockchain based online streaming platform, as his relationship with mainstream media continues to deteriorate.
DLive is a decentralized online videos streaming platform, which rewards both, content creators and viewers with a digital token called Lino. The platform claims itself to be the “YouTube on blockchain,” as it neither charges fees nor it takes any part from earnings.
PewDiePie has been involved in serious controversies over the past several months. Recently, about 80,000 people signed a petition to ban his channel, accusing it of promoting white supremacy. Especially, after being name-checked by the terrorist who carried the fatal attacks on the two mosques in New Zealand killing over 50 Muslims, agitations against PewDiePie have grown significantly.
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However, PewDiePie’s entry onto the crypto space might give Bitcoin and other altcoins a substantial boost in terms of mass adoption. About 44% of his audience is aged between 18-24, which the age group most excited and receptive about cryptocurrencies and blockchain technology. Mati Greenspan, Senior Analyst at eToro said,
“Personally, I’ve never heard of DLive before, but taking a look after this publicity stunt, it seems pretty cool. Though I personally don’t have much taste for this content, it seems that a lot of young people do. When we talk about mainstream adoption of cryptocurrencies, this sort of splash can go a very long way.”
Markets at large are showing signs of recovery since February this year, after the greatest depression which the crypto space witnessed in 2018. However, the main thing that the markets require to thrive and grow consistently is mass adoption. This is one area which still needs to improve significantly.
As per a report published by KPMG earlier this week, more than 60% of companies in the world don’t use blockchain technology, though they wish to do so. The report indicates that most companies in the world don’t use cryptocurrencies yet, as adopting crypto is not possible without implementing blockchain. This shows that crypto space has a scope of growth as global market mostly remain unexplored.
PewDiePie’s entry is extremely important, as he has a fan base of about 100 million across platforms. With the YouTube star coming on the platform for livestreams and other exclusive content videos, which are usually paid, a lot of Lino is expected to be exchanged, further expanding the crypto markets.
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Meanwhile, Bitcoin has had a good run for the past few as it crossed the $5,000 mark, after losing for months together. Also, the world’s largest cryptocurrency also crossed the milestone of crossing over 400 million transactions since it was first launched in January 2009.
