The impact social media has on the trends of the crypto market has been undoubtedly enormous. Right from Elon Musk’s tweets to the emergence of new memes across the internet, every development potentially changes the course of the crypto market altogether.
Following the impact that social media has on the fintech industry, new cryptocurrencies are being more and more creative with the way they bring both these sectors together. HUH Token is a brand new entry into the crypto market and is already creating a buzz with its promising whitepaper. The roadmap suggests that HUH Token will release a crypto-oriented social media platform of its own which will be called MetHUH.
HUH Token Plans To Launch a Crypto Social Media Platform
The creators of HUH intend to build MetHUH, a social networking platform dedicated to all things crypto. Through this medium, anyone can become a MetHUH influencer and earn money based on the amount of content they share and the amount of interaction they generate. HUH token holders can also generate a referral code to attract new members to the platform. A smart contract will automatically compensate holders in tokens for these referrals.
On MetHUH, both content creation and consumption will be assessed with sentiment analysis performed by AI-based systems such as IBM Watson and Google Perspective. These advanced services will employ comment analysers. A sentiment analysis report will be attached to both the social influencers‘ and users’ accounts using this information, and sentiment tokens shall be granted based on recognised traits. Anger, fear, joy, sadness, profanity and threat are some of the many planned tone traits that will be detected.
The developers of HUH Token have also taken to Twitter as they want to get noticed by Elon Musk. The catch is that 20% of HUH Tokens are reserved for Musk and if he chooses not to claim them, the reserves will be channelled towards charities across the world.
With such promising plans, HUH Token is on its way to not just being a big token but also to revolutionising the world of cryptocurrency altogether.
Twitter Chatter Impacting Crypto Trends
Twitter has a history of influencing crypto trends by being a platform where cryptocurrency developers and CEOs share their opinions about famous tokens. Nearly a year ago, a Musk tweet surfaced that slammed Bitcoin (BTC) for its environmentally unsustainable practices. The single tweet had a historically adverse impact on Bitcoin (BTC) investments and was a testament to the vulnerability that the crypto market has to the occurrences on social media. Moreover, Twitter CEO Jack Dorsey recently tweeted about Ethereum (ETH) having ‘many single points of failure’ which worried ETH investors and gave analysts a fresh perspective to consider.
The recent acquisition of Twitter by Elon Musk was reflected immediately on the crypto charts. Dogecoin (DOGE), which has a reputation for being Musk’s favourite token, hiked up immediately by more than 20% on the day Musk became Twitter’s single largest shareholder.
Hence, the crypto world extracts many of its trends from social media. Considering this symbiosis, HUH Token’s concept of its own social media platform appears as a groundbreaking idea that crypto experts are looking forward to.
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