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In July 2021, TikTok reached 3 billion downloads. This social network boasts over 1 billion monthly active users. And in the US, TikTok is more popular with Gen Z than Instagram.
Bitcoin (Bitcoin) is down more than 70% from its 2021 high of $69,000. Expect market volatility.But if Decentralized Finance (DeFi) It is forward-looking and should be accepted by more people. The aforementioned volatility (and cryptocurrency irony in general) puts many investors off. Fortunately, Generation Z members are far from typical investors.
Finance on TikTok is so popular that it has its own portmanteau. Finance-related content, called FinTok, has exploded along with the social network itself. Last year, the #Crypto hashtag exploded, creating 1.9 billion videos. Uploads tagged with #NFT grew by a staggering 93,000% (fueled further by the general boom in interest in NFTs). Also, videos with the #StockTok hashtag got his 1.4 billion views.
It’s not just the cryptocurrency market that is flooded with videos about managing money. Last year, the #PersonalFinance hashtag racked up more than 4.4 billion views for him, with content covering everything from taxes and budgeting to savings and debt. In the context of TikTok’s primary users, Generation Z, we can see that young people today have a healthy appetite for financial information. They just want to consume it soundtracked with catchy pop songs and viral dances.
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Young adults are also leading the adoption of digital assets. According to CNBC’s “Invest in You” survey, the 18-34 year old accounted for 15% of his cryptocurrency investments, compared to 11% for those aged 35 to 64 and just 4% for those aged 65 and over. . The problem is that a significant portion of her 18-34 demographic views cryptocurrencies as a short-term investment.
It’s no surprise that Generation Z is not only embracing cryptocurrencies, but educating themselves about finance as well. According to Credit Suisse’s Global Investment Earnings Yearbook, Generation Z makes traditional stock and bond investments one-third less than he did in previous generations.
Bank of America’s December ‘OK Zoomer’ Research Report Finds COVID-19 Pandemic Hitting Gen Z’s Professional and Financial Futures Just as the Great Recession Hit Millennials It became clear. So while most of Generation Z don’t have a lot of cash to invest in cryptocurrencies today, they could in the future, especially if they are economically savvy and investment driven, as the data suggests. It could be. And there is an opportunity for DeFi.
For the future and health of the digital asset market, DeFi companies need to attract the right audience in specific ways that target these demographics.
Just as DeFi promises to democratize finance, social media platforms such as TikTok have Democratize the investment processCommunities that were once closed to the likes of Wall Street bankers and qualified hedge fund managers are now open to everyone.
But DeFi needs to improve its marketing to take advantage of the opportunities available through the trendiest social media platforms. This means clear, concise, short-form videos tailored to your target audience, making cryptocurrencies not only accessible, but fun, and transparent about the risks inherent in investing.
Related: From Axie Infinity to Bored Apes, the Federal Government is Coming to the Metaverse
Short videos are popular on TikTok. But they are mostly top-level funnel activities. That’s not necessarily a bad thing.the brand can Warm up your Gen Z audience now That way, when you have the money to invest in it in a few years, you’ll be a knowledgeable prospect and ready to convert.
What you need is this transform content. Crypto companies will have to build trust in their audiences in the years to come. Not a feat, given the turbulence and bad press the bear market has experienced recently.
DeFi companies need to understand video content formats that maintain transparency, differentiate themselves from TradFi brands, and build long-term, trustworthy relationships with younger generations. Tomorrow could be bright for Bitcoin and other digital assets if you learn how to speak the language of
Zach Colbert Digital marketer by day, freelance writer by night. Covering digital culture since 2007.
This article is for general information purposes and is not intended, and should not be construed as legal or investment advice. The views, thoughts and opinions expressed herein are those of the author and do not necessarily reflect or represent the views or opinions of Cointelegraph.
