Liquidity Lounge#15| The Podcast Transcription
In this episode of Mids Capital, the discussion focuses on the misuse of key opinion leaders (KOLs) in the cryptocurrency and Web3 industries. The guest, Stefano, founder of Kaika, brings extensive experience from the VC and agency sectors to explore the complexities of using KOLs effectively. Stefano identifies common misuses, such as treating KOLs merely as advertising spaces and not aligning their roles with long-term brand strategies, which can lead to issues like audience fatigue and short-term scams.
The conversation also covers the impact of regulations in sensitive sectors like finance and health, emphasizing the importance of ethical considerations and transparency in KOL engagements. Additionally, Stefano offers insights into balancing profitability with diversity in KOL usage and discusses innovative methods for disclosure that enhance trust and engagement with audiences.
Mids Capital: Good evening, everyone, and welcome to another insightful session here at Midscapital. Today, we’re diving into a topic that’s garnered a lot of attention lately — the misuse of key opinion leaders (KOLs) in the cryptocurrency and Web3 space. Joining us is Stefano, the founder of Kaika, with a wealth of experience in crafting effective campaigns in this realm. Stefano, could you share a bit about your background for our audience?
Stefano: Absolutely, Mids Capital. Delighted to be here. My journey spans from working with a VC group to diving into the agency world, even under the helm of Stephen Bartlett. But perhaps most pertinent to today’s discussion is my experience launching Kaika, where we’ve encountered firsthand the intricacies of leveraging KOLs effectively.
Mids Capital: Fascinating journey indeed, Stefano. Let’s jump right in. Why do you think KOLs are often misused in our industry?
Stefano: It’s a multifaceted issue, Mids Capital. Often, projects view KOLs merely as attention spaces, akin to ad networks in Web2. But the crux lies in aligning their narratives with brand objectives and ongoing trends. Additionally, there’s a tendency for projects to overlook selling their vision and team to KOLs, leading to short-term focus and potential rug pulls.
Mids Capital: Insightful points. Now, what about the psychological impacts on followers with continuous exposure to KOL-endorsed products?
Stefano: Overexposure isn’t inherently negative, Mids Capital. KOLs serve as effective distribution channels in Web3. However, there’s a risk of fatigue if content becomes repetitive. Diversification and engaging formats are key to retaining audience interest.
Mids Capital: Moving onto regulations, how do you see them addressing KOL misuse, particularly in sensitive sectors?
Stefano: Regulations play a crucial role, especially in sectors like finance and health. Staying abreast of evolving rules is imperative. KOLs must navigate ethical considerations, providing clear disclaimers about their investments and affiliations to foster transparency and trust.
Mids Capital: Balancing profitability and diversity seems like a challenge. Any insights there?
Stefano: Absolutely, Mids Capital. It’s about finding equilibrium between popular KOLs and fresh voices aligned with campaign objectives. Metrics like engagement rates and post-promotion activities help gauge true influence.
Mids Capital: Finally, let’s talk creative disclosure methods for KOL sponsorships.
Stefano: Honesty is paramount. Integrating disclosures into storytelling, utilizing custom visuals, and encouraging interactive content and honest reviews foster trust with audiences.
Mids Capital: That wraps up our session. Thank you, Stefano, for sharing your invaluable insights with us today.
Stefano: My pleasure, Mids Capital. Thank you for having me.
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