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<ul><li>The <keyword id="3397297" type="PERSON" weightage="20" keywordseo="FaZe-Clan">FaZe Clan</keyword> made history last month by being the first ever gaming organisation to grace the cover of Sports Illustrated magazine.</li><li>This month, four of their members are being scrutinised for running a ‘pump and dump’ <keyword id="6406689" type="UNKNOWN" weightage="20" keywordseo="cryptocurrency-scam">cryptocurrency scam</keyword>.</li><li>They allegedly pumped up the value of an altcoin called ‘Save The Kids’ and then sold off their holdings causing the tokens’ value to plummet.</li></ul>An e-sports group called the ‘FaZe Clan’ has fired one of its members and suspended three others amid allegations of running a ‘pump and dump’ <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite">cryptocurrency</a> scam. Outside the crypto world, it’s what you would call a ponzi scheme. <div type="twitter" handle="FaZeClan" handlename="FaZe Clan" image="http://pbs.twimg.com/profile_images/1410336766297522176/bbVvy-37_normal.jpg" favoritecount="108361" retweetcount="7827" status="A statement from FaZe Clan. https://t.co/HnPXpAoSYX" createdat="1625183019000" id="1410745951120101378"></div> This means that these influencers ‘pumped up’ the price of an altcoin, also called ‘meme coins’ or ‘sh**coins’ by getting their followers to invest in it. Once the price soared up, the influencers sold their holdings — or dumped them — causing its value to fall suddenly, leaving smaller investors in a lurch. The worrying factor is that these schemes are becoming all too much in the world of crypto and those who aren’t familiar with how <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite">blockchain</a> works can end up losing their savings in such scams. The crypto industry is no stranger to influencers. In fact, considering that the value of a lot of coins is speculative, influencers have a bigger sway over prices than in other sectors of the economy — take what happens to the value of Doge, Baby Doge or Bitcoin, whenever Tesla and SpaceX CEO Elon Musk puts out a tweet. But, as the cliche goes, with great power comes great responsibility. And, the misuse of trust can turn the tables on you, which is what happened with four FaZe Clan members. Who is the FaZe Clan and what did they do? The FaZe Clan is a professional e-sport and entertainment organisation based out of the US. It includes players from around the world who play various games like Call of Duty, PlayerUnknown’s Battlegrounds, FIFA, Fortnite Battle Royale and others. They made history earlier this month by being the first ever gaming organization to grace the cover of Sports Illustrated magazine. <div type="image" title="FazeClan" msid="84063223" hostid="261" caption="&amp;lt;p&amp;gt;FaZe Clan featured on the cover of Sports Illustrated&amp;lt;/p&amp;gt;"></div> FaZe was founded back in 2010 by three YouTubers but now has expanded to over 80 members — all with their own fan following amounting to tens of millions of followers. However, four of these members — Kay, Jarvis, Nikan, and Teeqo — have been accused of running ‘pump and dump’ schemes. The most recent incident, which led to Kay being kicked off the FaZe Clan while Jarvis, Nikan and Teeqo have been suspended, had to do with an altcoin called ‘Save The Kids’ ($KIDS). <div type="image" title="FaZe Kay" msid="84063255" hostid="261" caption="&amp;lt;p&amp;gt;FaZe Kay has been kicked off the FaZe Clan&amp;lt;/p&amp;gt;"></div> FaZe Kay has been accused of potentially doing this not just once but multiple times in the past — and he's not the only FaZe member. One of the founders of the FaZe Clan, FaZe Banks, has also been caught in a controversy to do with an altcoin called BankSocial, which he promoted through a giveaway in May. BankSocial rose in value right after Banks' promotion and then promptly plummeted — losing 90% of its value — after many big early investors sold off. <h2 style="line-height:1.38;margin-top:18pt;margin-bottom:6pt;">A scam masked as a charity</h2>The $KIDS cryptocurrency was built on the Binance Smart Chain (BSC) and positioned itself as a charity token. The promotional video promised to ‘redistribute wealth’ to both holders and charities. Many of the group's fans put their money into the scheme, believing their investment was protected and being leveraged for a good cause, only to see it disappear overnight. The shady inner workings of how users may have been scammed was first pointed out by YouTuber OrdinaryGamers. His investigation into the altcoin, and the people behind it, showed that not everything was on the up-and-up. Kay, Jarvis, Nikan, and Teeqo, all tweeted out in support of the altcoin at around the same time to create a hype around the alcoin. But, shortly after, the tweets were all simultaneously deleted as the price of $KIDS took a nosedive. <h2 style="line-height:1.38;margin-top:18pt;margin-bottom:6pt;">What is the pump and dump model?</h2>In a pump and dump operation, the perpetrator makes a profit by pumping an asset into the market. Pumping here means to increase the demand for something by marketing it, in turn also increasing its value — like sending out a bunch of tweets promoting a particular altcoin. When the coin is worthy enough, the perpetrator sells their holding, which is called dumping. It's a direct manipulation of supply-demand based market dynamics. Scammers usually target new or unpopular coins since information about the blockchain isn't easily accessible. And, for those who don’t do their research, promises of ‘reaching the moon’ sound like an easy way to make a quick buck. For a newcomer or someone who got inspired by an influencer, it isn't straightforward to figure out the authenticity of a blockchain. On the other hand, creating a brand new altcoin is relatively easy for someone who understands how blockchains are floated. This divide in financial literacy is where influencers can take advantage of the system. This would be illegal but regulation is still playing catch up Pump and dump schemes are illegal and can attract the authorities attention in a regulated industry like the stock market. But <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite">cryptocurrencies</a> are unregulated globally, and governments are still trying to figure out a solution. Decentralised finance as a concept often clashes with the conventional fiat system, which is profoundly centralised and controlled to avoid instability. Crypto exchanges usually suggest that users should stay away from new or obscure <keyword id="8129164" type="UNKNOWN" weightage="20" keywordseo="Altcoins">altcoins</keyword>. Large-cap coins like Bitcoin, Ethereum, and Litecoin are considered far safer. However, those looking for the ‘next big thing’ can often be lured into such schemes without doing enough research.

E-sports group FaZe Clan is distancing itself from gamers accused of running a ‘pump and dump’ crypto scam

<ul class="summary-list"><li>On Thursday, esports organization <keyword id="3397297" type="PERSON" weightage="60" keywordseo="FaZe-Clan">FaZe Clan</keyword> cut ties with several members.</li><li>They were promoters and backers of the Save the Kids cryptocurrency, which has plummeted in value.</li><li>Some influencers have been promoting alternative coins, leading to allegations of scams.</li></ul>Influencers with millions of followers like Sommer Ray, RiceGum, and members of the esports organization FaZe Clan excitedly backed the June 5 announcement of Save the Children, a new cryptocurrency. According to the new token's website, which has since been taken offline, the crypto venture had "a mission to build a better world for kids" and promised to donate a small portion of the proceeds to charity. Now, FaZe Clan, a successful esports organization and influencer incubator, has suspended four members involved with the cryptocurrency coin, with some online accusing the coin of being a scam. The currency's price hit a high of nearly half a penny before plummeting 60% in value throughout June, following a recent trend of alternative currencies becoming increasingly popular products for internet stars to promote. <a href="https://kotaku.com/faze-clan-fires-kay-suspends-three-other-members-over-1847216513">As Kotaku reported</a>, tons of fans "pumped money into this scheme, believing their investment was protected by the high profile of those endorsing it, only to see their money disappear almost overnight." The influencers who once posed in promotional videos for the coin have now deleted all of their Twitter posts about it, though Insider could not confirm when creators began removing such content.Frazier Kay, a popular member of the FaZe Clan who had promoted the coin on his 880,000 Twitter followers, tweeted on <a href="https://twitter.com/FaZeKay/status/1409221680178909184">Sunday that</a> he "had no ill intent promoting any crypto alt coins."Five days later, the FaZe Clan's official account tweeted that Kay would be removed from the esports group, along with the suspensions of three other members who had promoted the coin, Jarvis Khattri, Nikan Nadim, and Teeqo. "Faze Clan had absolutely no involvement with our members' activity in the cryptocurrency space and we strongly condemn their recent behavior," the account said."I think FaZe knew that it was really bad," YouTuber Coffeezilla, who has been reporting on online scams on his 450,000 subscriber YouTube channel for the past two years, told Insider. "They had to draw a line in the sand between people who are in their org doing things the right way and people who are doing this crypto nonsense."Other YouTubers who purchased the coin have since responded to the controversy.Joel Morris, a YouTuber with over 2.4 million subscribers, wrote in a <a href="https://medium.com/@jmx2525/an-official-statement-eaa9aa78ae58">statement published Friday </a>that he had purchased tokens in the pre-sale but "panicked and started to sell off parts of my tokens to avoid losing money."Kay, Teeqo, Khattri, and Nadim did not respond to requests for comment. <h2>Altcoins being promoted by influencers have become a popular but risky trend</h2>Altcoins, or alternative <keyword id="2420795" type="PERSON" weightage="60" keywordseo="cryptocurrencies">cryptocurrencies</keyword> to popular staples like Bitcoin and Ethereum, have been steadily growing in popularity. Coins like DogeCoin, Ethereum Max, and SafeMoon, have all grown through popular online followings and the chance of getting rich quickly.Influencers have also promoted their own controversial tokens that often plummet in value. On April 30, influencer Tana Mongeau posted an <a href="https://twitter.com/defnoodles?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1388320690139320324%7Ctwgr%5E%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fmashable.com%2Farticle%2Finfluencers-altcoin-scamscams">Instagram Story promoting TitsCoin, </a>saying that her "ownership" in the coin bought her a "beautiful Rolls Royce."Historically, these influencer-promoted coins spike in value before plummeting. These coins come with major financial risks of "rug pulls," where coin creators can just vanish with large amounts of money. These newly formed cryptocurrencies are mostly unregulated in the United States. In December 2020, <a href="https://www.federalregister.gov/documents/2021/01/15/2021-01016/requirements-for-certain-transactions-involving-convertible-virtual-currency-or-digital-assets">the Financial Crimes Enforcement Network</a> proposed that virtual currency should be regulated like traditional currency.

FaZe Clan members suspended following allegations that their Save the Kids cryptocurrency may have been a scam

<ul class="summary-list"><li>A 77-year-old-woman lost more than $12,000 in a <keyword id="6409096" type="UNKNOWN" weightage="60" keywordseo="Bitcoin-scam">bitcoin scam</keyword>, <a href="https://www.chicagotribune.com/suburbs/post-tribune/opinion/ct-ptb-davich-phone-scamming-elderly-victims-st-0702-20210701-pfc5jo2xurck5k7scsjsdvjz2u-story.html">Chicago Tribune reported</a>.</li><li>The Indiana-based victim was deceived into handing over personal financial details.</li><li>The incident highlights the surge in crypto-related scams in recent months. </li></ul>Cryptocurrency scams are on the rise, with victims often being tricked out of thousands of dollars. This is backed up by <a href="https://www.ftc.gov/news-events/press-releases/2021/05/ftc-data-shows-huge-spike-cryptocurrency-investment-scams">recent data from the FTC</a>, which shows that since October 2020, consumers have reported losing more than $80 million to <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite" id="docs-internal-guid-193c1191-7fff-9361-0ee7-4c351c638888">cryptocurrency</a> scams. This represents an increase of more than ten-fold year-on-year. In one such case, a 77-year-old woman lost more than $12,000 after being lured into a <keyword id="6354947" type="UNKNOWN" weightage="60" keywordseo="bitcoin">bitcoin</keyword> scam, <a href="https://www.chicagotribune.com/suburbs/post-tribune/opinion/ct-ptb-davich-phone-scamming-elderly-victims-st-0702-20210701-pfc5jo2xurck5k7scsjsdvjz2u-story.html">Chicago Tribune reported</a>. The incident occurred after the Indiana-based woman received an email alert last month claiming to warn her of fraudulent activity on her PayPal account. She was advised to buy $3,500 in <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite" id="docs-internal-guid-80e9417f-7fff-bdf7-35ea-753c659633ce">bitcoin</a> on the cryptocurrency trading platform, Coinbase, and was later instructed to share her bank information, the outlet reported. This led to six withdrawals totaling $8,800 and the scammer eventually stealing over $12,000 from her. The incident forms part of a recent surge in cryptocurrency-related scams or accusations of wrongdoing. On Thursday, members of esports organization <a href="https://fazeclan.com/">FaZe Clan</a> were suspended following allegations that their Save the Children cryptocurrency may have been a scam, <a href="https://www.insider.com/faze-clan-save-the-kids-cryptocurrency-scam-controversy-2021-7">per Insider's Steven Asarch</a>. <a href="https://kotaku.com/faze-clan-fires-kay-suspends-three-other-members-over-1847216513">Kotatku </a>reported that tons of fans "pumped <keyword id="6354840" type="UNKNOWN" weightage="60" keywordseo="money">money</keyword> into this scheme, believing their investment was protected by the high profile of those endorsing it, only to see their money disappear almost overnight." "FaZe Clan had absolutely no involvement with our members' activity in the cryptocurrency space and we strongly condemn their recent behavior," a <a href="https://twitter.com/FaZeClan/status/1410745951120101378?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1410745951120101378%7Ctwgr%5E%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fwww.insider.com%2Ffaze-clan-save-the-kids-cryptocurrency-scam-controversy-2021-721-7">statement posted on Twitter</a> by FaZe Clan said. In another incident, an online dating user became embroiled in a cryptocurrency scam that lost him £20,000 in May, <a href="https://www.theguardian.com/technology/2021/jul/03/cryptocurrency-scam-online-dating-covid-binance-grindr">The Guardian reported on Saturday</a>. The user, who was given the pseudonym James Evans by the outlet, said he had felt like he built a "genuine connection" with a man on Grindr but soon became aware he was manipulated into a scam. Crypto scammers often go to great lengths to lure their victims. In the Indiana case, <a href="https://www.chicagotribune.com/suburbs/post-tribune/opinion/ct-ptb-davich-phone-scamming-elderly-victims-st-0702-20210701-pfc5jo2xurck5k7scsjsdvjz2u-story.html">Chicago Tribune reported</a> that the woman received an email that stated almost $500 had been drawn out of her account and that she would need to call a specific number to rectify the issue. Once she was on the line, a man convinced her to invest in the currency. He offered to walk the woman through the complicated purchase by accessing her phone via a screen-sharing facility. Upon instruction, she shared her bank information and even provided the scammer with a state photo ID of herself. "It does seem that at a certain age, too many people can be susceptible to these type of scams," Chesterton police sergeant Dave Virijevich told the <a href="https://www.chicagotribune.com/suburbs/post-tribune/opinion/ct-ptb-davich-phone-scamming-elderly-victims-st-0702-20210701-pfc5jo2xurck5k7scsjsdvjz2u-story.html">Chicago Tribune</a>. "These types of criminals prey on the genuine goodness of people. They're preying on their trusting nature," he added. Eventually, her bank helped the woman retrieve a small fraction -$2,000 - of the money she had lost. <a href="https://forum.businessinsider.in/">For a more in-depth discussion, come on over to Business Insider Cryptosphere</a> — a forum where users can deep dive into all things crypto, engage in interesting discussions and stay ahead of the curve. SEE ALSO: <a href="https://www.businessinsider.in/cryptocurrency/news/chinas-crypto-crackdown-is-not-with-bitcoin-mining-only-stablecoins-software-influencers-are-also-on-its-radar/articleshow/84229285.cms">China’s crypto crackdown is not likely to stop with Bitcoin mining — stablecoins, software, influencers are also on its radar</a> <a href="https://www.businessinsider.in/cryptocurrency/news/cryptocurrencies-exchanges-can-run-into-trouble-with-investors/articleshow/84205889.cms">Cryptocurrencies aren't all diamonds and roses — lawsuits from people who lost big are piling up with exchanges</a> <a href="https://www.businessinsider.in/cryptocurrency/news/crypto-sports-sponsorships-are-heating-up-again-as-ufc-bags-a-multi-million-dollar-deal-from-crypto-com/articleshow/84229910.cms">Crypto sports sponsorships are heating up again with multi-million dollar deals on the table</a> <a href="https://www.businessinsider.in/cryptocurrency/news/ceo-of-the-worlds-largest-cryptocurrency-said-that-financial-assets-like-cryptocurrencies-only-come-along-once-in-a-generation/articleshow/84164488.cms">The CEO of the world’s largest cryptocurrency asset manager reckons that crypto as an asset class is ‘here to stay’ — Here are 12 of his best quotes</a>

Crypto scams are preying on vulnerable people. Many victims are deceived online, including an elderly woman who lost thousands.

<ul class="summary-list"><li><keyword id="11930688" type="UNKNOWN" weightage="60" keywordseo="ftx" source="Orion">FTX</keyword>'s US arm introduced a $500 fee for users wanting to mint and launch their own NFTs on its digital art marketplace.</li><li>Not long after launching, the <keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword> exchange's <keyword id="11919795" type="UNKNOWN" weightage="60" keywordseo="nft" source="Orion">NFT</keyword> marketplace was inundated with people posting images of fish.</li><li><keyword id="11930691" type="UNKNOWN" weightage="60" keywordseo="sam-bankman-fried" source="Orion">Sam Bankman-Fried</keyword> later retraced his decision, saying it would cost $10 to mint an NFT.</li></ul>Crypto exchange FTX started charging a $500 fee for people to mint their own non-fungible token on its newly launched native <a href="https://twitter.com/FTX_Official/status/1434755016246452233">NFT marketplace,</a> after being swamped with items including a surfeit of <a href="https://twitter.com/ColdBloodShill/status/1434862797909803014">pictures of fish</a>.The company <a href="https://twitter.com/FTX_Official/status/1434755016246452233">opened</a> the marketplace Monday to allow people to create, display and sell their works directly on the US exchange, as interest in the digital collectibles continues to surge."Make your own NFTs," Sam Bankman-Fried, founder and CEO of FTX, <a href="https://twitter.com/SBF_FTX/status/1434750019123523584">tweeted</a>. But within hours, the FTX boss returned to Twitter to say the company has brought in a one-time fee of $500 after receiving a flood of items."Due to the massive number of submissions, too many of which were just a picture of a fish, we are now charging a one-time $500 fee to submit NFTs," Bankman-Fried <a href="https://twitter.com/SBF_FTX/status/1434861452469456896">wrote</a>. "Hopefully this will reduce spam."But he rewound that decision too, making another attempt to enable affordable NFTs."Now, it costs a flat $10 per NFT to mint them, no up-front cost. We're refunding all the $500's paid. Hopefully this reduces (fish-related) spam while also making it affordable," he <a href="https://twitter.com/SBF_FTX/status/1434895787167731712">said</a>.For his part, Bankman-Fried's submission - made to demonstrate the new feature - was an image of words that simply reads: "<a href="https://ftx.us/nfts/token/291222296035270197">Text</a>." As of 8:40 a.m. ET on Monday, its highest bid stood at $1,500, with only 16 hours to go.Users don't have to be in the US to use the marketplace, the crypto exchange <a href="https://twitter.com/FTX_Official/status/1434755326708883459">said</a>. Currently, people can only store and view the NFTs on the exchange. But the marketplace will <a href="https://twitter.com/SBF_FTX/status/1434750019123523584">support</a> deposits and withdrawals within the coming weeks.In his tweets, the FTX boss noted that payments for the NFTs will be cross-chain enabled between <a href="https://markets.businessinsider.com/currencies/eth-usd">ethereum</a> and <keyword id="11931714" type="UNKNOWN" weightage="60" keywordseo="solana" source="Orion">solana</keyword>. This means the platform will allow trading of tokens across both blockchains, done using smart contracts or applications that can connect with two different chains.Most NFTs so far have been encoded on the <a href="https://www.theverge.com/22310188/nft-explainer-what-is-blockchain-crypto-art-faq">ethereum</a> blockchain. By storing the NFT as information on a blockchain, it becomes near impossible to edit or remove it, making it a permanent record of the owner's purchase.With the move, FTX becomes the latest crypto exchange to move into NFT marketplaces. Binance launched its own <a href="https://markets.businessinsider.com/news/currencies/binance-nft-launch-sales-trading-digital-artwork-non-fungible-tokens-2021-4">NFT marketplace</a> in April, while <a href="https://www.okex.com/academy/en/nft-marketplace-guide">OKEx</a> launched one more recently in September.NFTs have steadily become more mainstream as their value is realized in the broader market, and this trend is expected to continue. NFT sales volumes surged 200% to <a href="https://markets.businessinsider.com/news/currencies/nft-value-sales-h1-dappradar-nonfungible-tokens-crypto-hype-2021-7">$2.5 billion</a> in the first half of 2021, according to data from DappRadar.Bankman-Fried <a href="https://markets.businessinsider.com/news/currencies/non-fungible-tokens-nfts-mainstream-buyers-popularity-sam-bankman-fried-2021-8">told CNBC</a> last month that the tokens have become popular faster than people have understood them, and that many don't know what the future for the assets looks like.A range of big players - from artists to DJs, to massive brands like Marvel, Ubisoft, Faze Clan, and Topps - are involved in building NFT projects and strategies. They are using NFT platforms such as OpenSea, Rarible, Autograph, RTFKT and Dapper Labs to accomplish their goals, Ivan Soto-Wright, founder and CEO of crypto payments infrastructure firm MoonPay, told Insider. Soto-Wright said he fully anticipates NFTs to develop further beyond digital, and into real-life use cases such as providing proof of ownership for properties and tickets for events.Read More: <a href="https://www.businessinsider.com/eth-price-prediction-target-crypto-outlook-ether-bitcoin-commodity-strategist-2021-9" target="_blank" rel="noopener noreferrer">A senior commodity strategist lays out the increasingly bullish signs that point towards ether hitting $5,000 - and why this gives him confidence in bitcoin reaching $100,000</a>

Crypto exchange FTX quickly starts charging users $500 to mint their own NFTs after being spammed with images of fish

<ul><li>The <keyword id="6354763" type="UNKNOWN" weightage="20" keywordseo="ipo">IPO</keyword> is entirely an offer for sale (<keyword id="883402" type="ORGANIZATION" weightage="20" keywordseo="OFS">OFS</keyword>) by existing promoters and shareholders.</li><li>Pune-based specialty chemicals company <keyword id="11546988" type="UNKNOWN" weightage="20" keywordseo="Clean-Science-and-Technology">Clean Science and Technology</keyword> looks to raise ₹1,546 crore through the public issue.</li><li>The bidding process for the IPO will start on July 7 and end on July 9.</li></ul>Pune-based specialty chemicals company Clean Science and Technology has set the <keyword id="108724" type="PERSON" weightage="20" keywordseo="price-band">price band</keyword> for its initial public offering (IPO) at ₹880-900 while it looks to raise ₹1,546 crore through the public issue. The IPO is completely an offer for sale (OFS) by existing promoters and other shareholders wherein the company will not receive any proceeds from the offer and all the proceeds will be received by the selling shareholders and promoters. The major <keyword id="48705" type="PERSON" weightage="20" keywordseo="share-sale">share sale</keyword> by the company’s promoters include Ashok Ramnarayan Boob (₹244 crore), Krishnakumar Ramnarayan Boob (₹193 crore), Siddhartha Ashok Sikchi (₹40 crore) and Parth Ashok Maheshwari (₹75 crore). Clean Science and Technology is among the few companies, globally, focused entirely on developing newer technologies using in-house catalytic processes, which are eco-friendly and cost competitive. The company manufactures critical specialty chemicals such as performance chemicals, pharmaceutical intermediates, fast moving consumer goods (FMCG) chemicals and other products. The IPO lot size is 16 shares. The company has reserved up to 50% of the offer for qualified institutional buyers, 35% for retail investors, and 15% for non-institutional buyers. In fiscal 2021, the company’s revenue from operations for sales outside India represented 67.86% of total revenue from operations. The company net profit for the period stood at ₹198 crore along with ₹192 crore net cash from operating activities. The bidding process will start on July 7 and end on July 9. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/faze-clan-pump-and-dump-crypto-scam-gets-kay-kicked-off-and-three-others-suspended/articleshow/84063180.cms">E-sports group FaZe Clan is distancing itself from gamers accused of running a ‘pump and dump’ crypto scam</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/personalities/news/gautam-adani-and-family-slip-out-of-worlds-top-20-billionaires-as-per-forbes/articleshow/84062686.cms">Gautam Adani and family slip out of world’s top 20 billionaires, as per Forbes</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/apps/news/google-is-working-on-a-new-app-to-let-you-store-your-medical-records/articleshow/84059948.cms">Google is working on a new app to let you store your medical records</a>

Clean Science and Technology sets IPO price band at ₹880-900, bidding to start on July 7

<ul class="summary-list"><li><keyword id="11893875" type="UNKNOWN" weightage="100" keywordseo="markets" source="Orion">Markets</keyword> have been on a wild ride in 2021 amid new phenomena like <keyword id="11915972" type="UNKNOWN" weightage="60" keywordseo="meme-stocks" source="Orion">meme stocks</keyword>, NFTs, and DAOs.</li><li>The year began with shares of <keyword id="11937112" type="UNKNOWN" weightage="60" keywordseo="gamestop" source="Orion">GameStop</keyword> soaring and is ending with a DAO trying to buy the US Constitution.</li></ul>Forget politics at your <keyword id="11909499" type="UNKNOWN" weightage="60" keywordseo="thanksgiving" source="Orion">Thanksgiving</keyword> dinner this year. Talk markets.Think about everything that happened this year, starting with an army of retail traders causing GameStop shares to spike, to cute Japanese puppies becoming the mascots for a crypto revolution, and ending in a bunch of internet friends trying to buy the US Constitution. So here's a refresher of what happened with 10 possible ideas to get the conversation going on Thanksgiving.<h3>1) What's your favorite meme stock?</h3>Meme stocks became <a href="https://www.businessinsider.com/gamestop-wallstreetbets-reddit-trader-mania-populist-movement-occupy-wall-street-2021-1?utm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener noreferrer">the first big market event this year</a> when an army of retail traders mobilized on Reddit to drive up the prices of cheap stocks like GameStop, <keyword id="11911241" type="UNKNOWN" weightage="60" keywordseo="amc" source="Orion">AMC</keyword>, and BlackBerry. Then well-known trading app Robinhood halted the buying of meme stocks, initiating an uproar from traders, <a href="https://www.businessinsider.com/congress-gamestop-stock-hearing-robinhood-reddit-citadel-what-happened-2021-2?utm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener noreferrer">a Congressional hearing</a> and a <a href="https://markets.businessinsider.com/news/stocks/sec-report-gamestop-reddit-meme-stock-frenzy-short-seller-robinhood-2021-10" target="_blank" rel="noopener noreferrer">regulatory report</a>. The meme-stock phenomenon has continued throughout the year, with new companies constantly added to the basket. For some, AMC is still their favorite. It's now accepting cryptocurrency as payment, and <a href="https://markets.businessinsider.com/news/stocks/how-amc-ceo-adam-aron-embraced-the-company-meme-status-2021-6" target="_blank" rel="noopener noreferrer">its CEO is a hit</a> among retail traders.<h3>2) Want to see my NFT?</h3>Non-fungible tokens surged in popularity this year, and now the market as a whole is <a href="https://markets.businessinsider.com/news/currencies/nft-trading-volume-q3-crypto-blockchain-snoop-dogg-axie-infinity-2021-10">worth billions of dollars</a>. The tokens are generally <a href="https://www.businessinsider.com/nft-meaning#:~:text=NFT%20stands%20for%20%22non%2Dfungible,estate%2C%20music%2C%20or%20videos.">digital pieces of art tied to the blockchain</a>. They're worth anywhere from a handful of dollars to millions of dollars. If you're really a crypto enthusiast, you might even bring your <a href="https://markets.businessinsider.com/news/currencies/buy-midwest-tungsten-cubes-with-bitcoin-crypto-2021-10">tungsten cube</a> to Thanksgiving dinner. The cubes have become all the rage in the crypto world for their small size and surprising density. <div type="image" title="Shiba inu dog" height="1061" width="2123" msid="87876200" hostid="261"></div><h3>3) I've been thinking about buying a <keyword id="12303302" type="UNKNOWN" weightage="60" keywordseo="shiba-inu" source="Orion">shiba inu</keyword>! (The puppy not the coin; I already have that).</h3><a href="https://markets.businessinsider.com/news/currencies/shiba-inu-coin-rise-demand-shiba-inus-elon-musk-floki-2021-11">Demand for the Japanese hunting dogs</a> has surged this year along with the price of meme coins like <keyword id="11955065" type="UNKNOWN" weightage="60" keywordseo="dogecoin" source="Orion">dogecoin</keyword> and shiba inu coin. The cryptocurrencies, whose mascot is the shiba inu, have garnered the attention of the retail investing crowd, in addition to <keyword id="11900744" type="UNKNOWN" weightage="60" keywordseo="tesla" source="Orion">Tesla</keyword> CEO <keyword id="11897862" type="UNKNOWN" weightage="60" keywordseo="elon-musk" source="Orion">Elon Musk</keyword> and AMC CEO Adam Aron. Another shiba inu-based coin called <a href="https://markets.businessinsider.com/news/currencies/floki-cryptocurrency-elon-musk-dog-meme-token-shiba-inu-doge-2021-10">Floki</a>, a reference to Musk's new Japanese pup, has also joined the space. Be careful if you want to buy in, though, the cryptocurrencies — and the dogs — can be volatile. <h3>4) How's your home improvement project going with those crazy lumber prices?</h3>Inflation is at <a href="https://markets.businessinsider.com/news/stocks/chamath-palihapitiya-inflation-investments-spacs-elon-musk-jeff-bezos-2021-11https://www.businessinsider.com/inflation-cpi-october-price-growth-index-supply-chain-crisis-recovery-2021-11">30-year highs</a> thanks to a bevy of factors like shortages, supply chain bottlenecks, and government stimulus checks, among others. <a href="https://markets.businessinsider.com/commodities/lumber-price">The price of lumber</a>, along with a lot of other costs, surged this year as first-time buyers joined the housing market and current homeowners made updates. More recently, lumber prices have since slumped from highs earlier in the year. <h3>5) I ordered my PS5 forever ago. One wrong turn in the Suez Canal, and I'm stuck with what I've got.</h3>In March, the Ever Given cargo ship became lodged in the pivotal waterway, prompting memes and adding to supply chain problems. After about a week blocking the canal, <a href="https://www.businessinsider.com/how-ever-given-ship-freed-suez-canal-2021-3">a fleet of tugboats and a dredger</a> successfully freed the vessel. <h3>6) Have you seen my Facebook — ahem, the company formerly known as Facebook — posts lately?</h3>Facebook is no longer Facebook. In October, <a href="https://www.businessinsider.com/facebook-new-name-meta-rebrand-metaverse-zuckerberg-apps-2021-10">it rebranded to Meta</a> as it plans to move into virtual reality and the future of the internet that has been dubbed the metaverse. Since then, the <a href="https://markets.businessinsider.com/news/currencies/facebook-metaverse-nfts-crypto-meta-cryptocurrencies-2021-11">concept of the metaverse</a> has become mainstream. <div type="image" title="Elon Musk" height="1912" width="3825" msid="87876202" hostid="261"></div><h3>7) Let's talk about voting! Did you vote yes or no on Elon Musk's poll to sell his Tesla shares?</h3>Musk <a href="https://www.businessinsider.com/elon-musk-proposes-selling-10-percent-tesla-stock-twitter-poll-2021-11">posted a poll</a> on Twitter on Nov. 6 asking if he should sell 10% of his stake in Tesla. The resounding answer was yes, and he's so far offloaded about <a href="https://markets.businessinsider.com/news/stocks/elon-musk-tesla-stock-sales-halfway-twitter-poll-pledge-2021-11">$9 billion worth of shares</a>. The Tesla chief's tweets have become increasingly influential this year, as his posts about digital assets, like dogecoin, bitcoin, and ethereum, have helped drive broad crypto rallies. On top of that, his own company has joined the $1 trillion club, and he's now the wealthiest man in the world.<h3>8) What did you think of Squid Game? </h3>The Netflix hit show that garnered more than 140 million viewers, <a href="https://www.forbes.com/sites/paultassi/2021/10/29/squid-game-hits-extremely-rare-netflix-viewership-milestone/?sh=1f9057cb4bf3">according to Forbes</a>, also inspired a cryptocurrency that soared in value in a matter of days in October. But it was a scam. The owners took their profits and <a href="https://markets.businessinsider.com/news/currencies/the-squid-game-token-scam-website-socials-offline-coingecko-crypto-2021-11">the crypto went offline</a>. <h3>9) How much did you make off Trump's SPAC?</h3><a href="https://www.businessinsider.com/how-do-spacs-work-get-created-costs-guide">Blank-check companies known as SPACs</a> were once a little known way for companies to go public, but during the pandemic they became wildly popular. <a href="https://markets.businessinsider.com/news/stocks/donald-trump-spac-digital-world-acquisition-truth-social-explained-2021-10">Former president Donald Trump used one</a> called Digital World Acquisition Corp. to take his company, Trump Media &amp; Technology Group, public. DWAC shares quickly became a meme and surged in value on the news.<h3>10) Can someone please explain to me what a DAO is?</h3>It's a <a href="https://markets.businessinsider.com/news/currencies/what-is-a-dao-constitutiondao-bid-sothebys-us-constitution-auction-2021-11">decentralized autonomous organization</a>, better yet, it's just a bunch of internet friends getting together to accomplish a goal. One DAO bought the secretive <a href="https://markets.businessinsider.com/news/currencies/what-is-a-dao-constitutiondao-bid-sothebys-us-constitution-auction-2021-11">Wu-Tang Clan album</a> once owned by infamous pharma bro Martin Shkreli. Another <a href="https://markets.businessinsider.com/news/currencies/constitutiondao-raises-46-million-buy-rare-copy-us-constitution-auction-2021-11">tried to purchase the Constitution</a> but was outbid by Citadel Securities' Founder Ken Griffin. Now one is trying to <a href="https://markets.businessinsider.com/news/currencies/kraken-house-dao-wants-nba-team-has-raised-ethereum-2021-11">buy an NBA team</a>.

Avoid politics at Thanksgiving and talk about markets instead. Here's a refresher on the craziest stories this year, from meme stocks to NFTs.

<ul class="summary-list"><li>The <keyword id="11898868" type="UNKNOWN" weightage="60" keywordseo="creator-economy" source="Orion">creator economy</keyword> is catching the attention – and wallets — of notable <keyword id="12696975" type="UNKNOWN" weightage="60" keywordseo="vcs" source="Orion">VCs</keyword>.</li><li>Creator-focused <keyword id="6362513" type="UNKNOWN" weightage="60" keywordseo="startups" source="Orion">startups</keyword> are raising millions of dollars.</li></ul>The phrase "creator economy" skyrocketed as a buzzword in 2021 as creators, <a href="https://www.businessinsider.com/13-top-vcs-investing-funding-raise-creator-economy-startups-2022-7?r=creator-economy-pitch-decks-lp">VCs</a>, and entrepreneurs rushed to cash in on a booming industry.More than 70,000 people used the phrase online between January and September 2021, <a href="https://www.businessinsider.com/creator-economy-predictions-trends-statistics-for-2022-uta-iq-2021-12?r=creator-economy-pitch-decks-lp">according to United Talent Agency's IQ department</a>, which tracks influencer-industry trends.Money spent by marketers in the influencer-marketing industry is estimated to exceed $6 billion in 2023, according to <a href="https://www.insiderintelligence.com/chart/257953/us-influencer-marketing-spending-2019-2024-billions-change" target="_blank" rel="noopener">Insider Intelligence</a> — but the creator economy now extends far beyond marketing.Fueling this rapid growth is the millions of dollars being invested into startups like link-in-bio service <a href="https://www.businessinsider.com/new-data-reveals-top-link-in-bio-tools-on-instagram-2022-5?r=creator-economy-pitch-decks-lp">Linktree</a> (<a href="https://www.businessinsider.com/new-data-reveals-top-link-in-bio-tools-on-instagram-2022-5?r=creator-economy-pitch-decks-lp">valued at $1.3 billion</a> in 2022) or affiliate marketing platform LTK (<a href="https://www.businessinsider.com/how-ltk-plans-to-compete-against-instagram-youtube-social-shopping-2021-12?r=creator-economy-pitch-decks-lp">valued at $2 billion</a> in late 2021). <a href="https://www.businessinsider.com/mrbeast-creative-juice-invest-1-million-directly-influencers-youtube-creators-2021-12?r=creator-economy-pitch-decks-lp">Creators themselves</a> are getting investors, too, and groups — like esports team Faze Clan — <a href="https://www.businessinsider.com/faze-clan-ceo-expansion-plans-spac-going-public-creator-economy-2021-10?r=creator-economy-pitch-decks-lp">are going public</a>.<a href="https://www.businessinsider.com/13-top-vcs-investing-funding-raise-creator-economy-startups-2022-7?r=creator-economy-pitch-decks-lp">Here are 13 investors and VC firms funding innovative startups in the creator economy</a>In 2021, more than $5 billion was invested into creator-focused startups in the US, according to <a href="https://affiliate.insider.com?h=4832918f595d7bc8682ec04af18d3cbde60fd18a52eb41207358e343fee946e8&amp;postID=61cb7e15ee10ac558d0180d2&amp;site=bi&amp;u=https%3A%2F%2Fwww.theinformation.com%2Farticles%2Fthe-startups-that-powered-creator-economy-investments-to-5-billion">The Information</a>.And while investors may be <a href="https://www.businessinsider.com/what-vcs-look-for-creator-economy-startups-advising-portolio-downturn-2022-8?r=creator-economy-pitch-decks-lp">looking at slightly different factors</a> now that the greater market has cooled off, they are still looking for startups creating practical tools for creator businesses.For instance, July — a creator economy startup with a mission to simplify the brand deal process — announced in December a <a href="https://www.businessinsider.com/pitch-deck-creator-economy-startup-july-raise-2-million-ohanian-2022-12?r=creator-economy-pitch-decks-lp">$2.3 million pre-seed round</a> led by Alexis Ohanian's Seven Seven Six fund.So, how do creator economy startups land those investments? Often, it starts with a <keyword id="9106531" type="UNKNOWN" weightage="60" keywordseo="pitch-deck" source="Orion">pitch deck</keyword>. Lumanu, a creator-focused financial startup, <a href="https://www.businessinsider.com/lumanu-startup-creator-economy-paid-brands-influencers-pitch-deck-example-2021-12?r=creator-economy-pitch-decks-lp">uses a simple pitch deck</a> that is more of a "conversation guider," cofounder and CEO Tony Tran told Insider."My pitch is always why, what, how, and why now?" Tran said. (<a href="https://www.businessinsider.com/lumanu-startup-creator-economy-paid-brands-influencers-pitch-deck-example-2021-12?r=creator-economy-pitch-decks-lp">Read the full pitch deck here.</a>)Skye, a career-coaching startup, had different decks depending on the type of investor or fund they were pitching to."I had two different versions, depending on the fund," <a href="https://www.businessinsider.com/pitch-deck-coaching-startup-platform-raise-1-million-preseed-funding-2022-7?r=creator-economy-pitch-decks-lp">said Jessica Wolf, Skye's CEO and cofounder</a>. "If I knew a fund was more into pre-seed, all about the founder, I had one deck. But if I knew that they were a numbers person, I would use another one."But every startup has a different approach.Insider talked with founders who've pitched their startups to investors about their process. They broke down the <keyword id="11953110" type="UNKNOWN" weightage="60" keywordseo="pitch-decks" source="Orion">pitch decks</keyword> they used to secure millions of dollars in funding. Read the pitch decks that helped 24 creator-focused startups to fundraise millions of dollars:<ul><li><a href="https://www.businessinsider.com/livestreaming-startup-restream-pitch-deck-50-million-raise-2020-9?r=creator-economy-pitch-decks-lp">Restream, a livestreaming alternative to platforms like Amazon-owned Twitch: $50 million Series A (14 pages)</a></li><li><a href="https://www.businessinsider.com/pitch-deck-creator-startup-pearpop-used-raise-18-million-2022-11?r=creator-economy-pitch-decks-lp">Pearpop, a creator marketing platform: $18 million Series A (18 pages)</a></li><li><a href="https://www.businessinsider.com/read-the-pitch-deck-for-social-audio-startup-spoon-radio-2021-10?r=creator-economy-pitch-decks-lp">Spoon Radio, a social audio startup: $17 million Series A (15 pages)</a></li><li><a href="https://www.businessinsider.com/pitch-deck-creator-platform-kyra-raise-15-million-series-a-2022-11?r=creator-economy-pitch-decks-lp">Kyra, a content studio, talent management firm and influencer marketing platform: $15 million Series A (20 pages</a></li><li><a href="https://www.businessinsider.com/lumanu-startup-creator-economy-paid-brands-influencers-pitch-deck-example-2021-12?r=creator-economy-pitch-decks-lp">Lumanu, a business-solutions platform for creators: $12 million Series A (8 pages)</a></li><li><a href="https://www.businessinsider.com/pitch-deck-example-creator-startup-hype-fundraising-vc-series-a-2023-4?r=creator-economy-pitch-decks-lp">Hype, a platform for link-in-bio and other creator-monetization tools: $10 million Series A (13 pages)</a></li><li><a href="https://www.businessinsider.com/pitch-deck-music-startup-slip-stream-series-a-sony-music-2022-6?r=creator-economy-pitch-decks-lp">Slip.stream, a music startup focused on gamers: $7.5 million Series A (13 pages)</a></li><li><a href="https://www.businessinsider.com/notion-doc-ai-gaming-company-used-to-raise-6-million-2023-1?r=creator-economy-pitch-decks-lp">Scenario, a generative-AI startup to create gaming art and assets: $6 million Seed (8 pages)</a></li><li><a href="https://www.businessinsider.com/authoritive-pitch-deck-raised-5-million-creator-startup-conde-nast-2021-12?r=creator-economy-pitch-decks-lp">Authoritive, an online course-development startup: $5 million Seed (11 pages)</a></li><li><a href="https://www.businessinsider.com/brag-house-pitch-deck-example-college-esports-platform-2021-11?r=creator-economy-pitch-decks-lp">Brag House, an esports startup: $5 million Series A (24 pages)</a></li><li><a href="https://www.businessinsider.com/ai-community-engagement-startup-glystn-4-million-seed-pitch-deck-2023-6?r=creator-economy-pitch-decks-lp">Glystn, an AI-powered community management platform: $4 million Seed (15 pages)</a></li><li><a href="https://www.businessinsider.com/pitch-deck-ar-sugmented-reality-startup-anima-raise-3-million-2022-12?r=creator-economy-pitch-decks-lp">Anima, an augmented-reality startup: $3 million (15 pages)</a></li><li><a href="https://www.businessinsider.com/pitch-deck-spark-youtube-moriah-elizabeth-night-media-seed-funding-2022-11?r=creator-economy-pitch-decks-lp">Spark, a digital art platform from YouTuber Moriah Elizabeth: $2.5 million Seed (9 pages)</a></li><li><a href="https://www.businessinsider.com/pitch-deck-that-helped-insense-ugc-startup-raise-round-2022-8?r=creator-economy-pitch-decks-lp">Insense, a startup helping e-commerce brands get low-cost ads: $2.5 million Pre-Series A (9 pages)</a></li><li><a href="https://www.businessinsider.com/pitch-deck-creator-economy-startup-july-raise-2-million-ohanian-2022-12?r=creator-economy-pitch-decks-lp">July, a "talent manager in your pocket" for creators: $2.3 million Pre-Seed (9 pages)</a></li><li><a href="https://www.businessinsider.com/pitch-deck-podcast-startup-supercast-used-raise-2-million-example-2022-2?r=creator-economy-pitch-decks-lp">Supercast, a podcast subscriptions startup: $2 million Seed (20 pages)</a></li><li><a href="https://www.businessinsider.com/pitch-deck-music-data-chartmetric-used-to-raise-2-million-2021-12?r=creator-economy-pitch-decks-lp">Chartmetric, a music data and measurement company: $2 million Seed (46 pages)</a></li><li><a href="https://www.businessinsider.com/pitch-deck-music-discovery-startup-unlimited-playlist-raise-2-million-2022-6?r=creator-economy-pitch-decks-lp">Ultimate Playlist, a music-marketing startup: $2 million round (9 pages)</a></li><li><a href="https://www.businessinsider.com/read-pitch-deck-crypto-startup-creators-raise-million-pre-seed-2022-5?r=creator-economy-pitch-decks-lp">Squads, a startup that helps creators mint and sell crypto coins: $1.8 million Pre-Seed (12 pages)</a></li><li><a href="https://www.businessinsider.com/pitch-deck-coaching-startup-platform-raise-1-million-preseed-funding-2022-7?r=creator-economy-pitch-decks-lp">Skye, a career-coaching platform: $1.6 million Pre-Seed (33 pages)</a></li><li><a href="https://www.businessinsider.com/read-pitch-deck-music-startup-magroove-used-raise-million-2023-5?r=creator-economy-pitch-decks-lp">Magroove a music distribution and discovery platform: $1.6 million Seed (21 pages)</a></li><li><a href="https://www.businessinsider.com/pitch-deck-raised-1-million-stagetime-linkedin-performing-artists-2021-11?r=creator-economy-pitch-decks-lp">Stagetime, a professional networking startup for performing artists: $1.5 million Seed (13 pages)</a></li><li><a href="https://www.businessinsider.com/pitch-deck-media-company-jubilee-startup-fundraise-raises-1m-2022-10?r=creator-economy-pitch-decks-lp">Jubilee, a content studio looking to expand beyond YouTube and TikTok: $1.1 million Seed-Plus (12 pages)</a></li><li><a href="https://www.businessinsider.com/spore-pitch-deck-helped-creator-economy-startup-get-investment-2021-7?r=creator-economy-pitch-decks-lp">Spore, a content and community building startup: $1 million Pre-Seed (17 pages)</a></li><li><a href="https://www.businessinsider.com/pitch-deck-creator-economy-startup-hashtag-pay-me-preseed-200k-2023-6?r=creator-economy-pitch-decks-lp">Hashtag Pay Me, a startup that helps creators price brand deals: $200,000 Pre-Seed (9 pages)</a></li><li><a href="https://www.businessinsider.com/pitch-deck-tiktok-youtube-media-brand-ourfuture-acquisition-2023-2?r=creator-economy-pitch-decks-lp">Our Future, a short-form video news brand that targets Gen Z: acquired (15 pages)</a></li></ul>

Read the pitch decks that helped 24 creator economy startups raise millions of dollars

<ul class="summary-list"><li>Influencers are tying themselves to cryptocurrencies and their exchanges amid a crypto boom.</li><li><keyword id="9054776" type="UNKNOWN" weightage="60" keywordseo="charli-damelio">Charli D'Amelio</keyword>, Jake Paul, and <keyword id="9097926" type="UNKNOWN" weightage="60" keywordseo="mrbeast">MrBeast</keyword> have endorsed crypto exchanges or currencies.</li><li>Cryptocurrency investment can be risky, potentially causing investors to lose what they put in. </li></ul>On Wednesday, the D'Amelio family posted a picture on their <a href="https://www.instagram.com/p/COgLlQFBQsx/">Instagram</a> thanking cryptocurrency app Gemini for "Charli's birthday gift."As part of a partnership deal, the company gave the parents of Charli D'Amelio, who has over 114 million followers on TikTok, an undisclosed amount of Bitcoin, according to a Gemini spokesperson. The app regularly works with the "influencer community," the Gemini spokesperson said, "to help educate their followers about cryptocurrency and promote the Gemini brand."The sponsored gift for the TikTok star's 17th birthday didn't appear to come as a surprise. On April 30, Marc, the patriarch of the <a href="https://twitter.com/marcdamelio/status/1388013269722419203">D'Amelio clan, tweeted,</a> "Charli wants a Bitcoin for her birthday," despite Charli not being old enough to trade on the Gemini app, according to its terms of service. When a Twitter user questioned if the teen actually wanted crypto as a birthday present, <a href="https://twitter.com/marcdamelio/status/1388014283800276994">Marc responded</a> that she's "been asking for a Bitcoin all day."Cryptocurrencies, or virtual tokens that can be mined by computers completing complex algorithms, have a total market capitalization of <a href="https://coinmarketcap.com/">$2.4 trillion</a>. Their values and name recognition are largely growing, in part, thanks to online promotions. The price of these coins can fluctuate wildly, sometimes for no discernable reason, making huge losses possible. Influencers from all corners of social media have capitalized on the growing industry around cryptocurrency, despite its volatility.<h2>Creators are pushing what some label 'scam coins' </h2>Influencers have leveraged their relationships with viewers to promote cryptocurrencies, and it's usually not entirely clear what financial incentives are at play in these promotions. According to <a href="https://www.businessinsider.com/generation-z-banking-fintech-payments-social-media-growth-customers-2021-2">Insider Intelligence</a>, Gen Z (people born between 1998 and 2016) will be the largest US consumer market by 2026, with 82 million people. Appealing to that demographic with influencers and the parasocial relationship that they build can allow crypto ventures to expand their reach. 22-year-old social media star Tana Mongeau recently posted a sponsored Instagram post promoting the "Tits Coin" ($TITS), a decentralized finance token that started in 2014 that gives 5% of its liquidity pool (a collection of coins stored to facilitate decentralized trading) to breast cancer research.On March 31, Daniel Keem, host of YouTube's DramaAlert channel with 5.8 million subscribers, tweeted a brief promotion of SafeMoon, a new online currency that <a href="https://www.thesun.co.uk/money/14692373/what-is-safemoon/">launched earlier that month.</a> Throughout April, Keem tweeted about the coin nearly two dozen times, showing off its rise in price and helping the decentralized finance token to trend on social media. It rose from one ten-millionth of a cent to one ten-thousandth of a cent mid-month.Others also started to support the coin on social media, including rapper Lil Yatchy and Backstreet Boys member Nick Carter.Other influencers like Jake Paul, the controversial YouTuber and boxer who has 20 million subscribers, <a href="https://twitter.com/jakepaul/status/1375868696980123649?lang=en">have backed Safemoon on Twitter.</a> Paul has been a staunch supporter of cryptos like Dogecoin and Bitcoin, and <a href="https://www.forbes.com/sites/billybambrough/2021/02/17/exclusive-youtube-star-jake-paul-discussed-creating-own-cryptocurrency-as-bitcoin-and-dogecoin-mania-spreads/?sh=7cc26ed71b21">told Forbes in February</a> that crypto is "the future...I'm speaking with my friends constantly about it. We're just scratching the surface.""These tokens have zero purpose, aside from making early speculators and themselves rich, as the token itself won't be used for anything," <a href="https://www.vice.com/en/article/4avd8p/safemoon-cryptocurrency-made-people-millions">trader Michaël van de Poppe told Vice in May about Safemoon.</a>"It's the flip-side of everything that the cryptocurrency ecosystem tries to achieve."Keem has also pushed other volatile cryptocurrencies like XRP and Bonfire. He tweeted that he is "not a financial advisor" and that you should "not take any financial advice" from him. Jimmy Donaldson, known as the philanthropic YouTuber MrBeast who has over 60 million subscribers, is an investor in "Refinable," a non-fungible token (NFT) company that sells tokens to fund transactions and is even featured on the <a href="https://refinable.com/">site's home page</a>.Other YouTubers started to endorse the coin, with the 116,000-subscriber channel My Financial Friend posting a video titled, "The Next 100x Altcoin?! Why I'm Buying The Refinable FINE Token Tomorrow!"The launch of Refinable did not go as expected. The coin was supposed to launch at $.033 but the price skyrocketed almost immediately to $8 due to "severe congestion" on Binance's trading platform, BSC. Over the next few hours, the price dropped drastically, hitting a low of $1.82. Those that invested immediately responded to Chan, frustrated with losing money. "People lost a lot of money and that's something that happens," My Financial Friend said in a follow-up video. "Everyone on YouTube and the media can say it will be great… but there is a high level of risk with these things." <h2>Cryptocurrency prices have recently surged alongside social media promotions</h2>Traditional celebrities and popular online figures played a significant role in getting the crypto hysteria rolling, using their audience in a similar vein as influencers do.When Tesla CEO Elon Musk changed his Twitter bio to "#bitcoin" in January, the coin's price jumped <a href="https://www.forbes.com/sites/ronshevlin/2021/02/21/how-elon-musk-moves-the-price-of-bitcoin-with-his-twitter-activity/?sh=3e88490e5d27">$6,000 in one hour.</a> In February, Tesla started accepting <a href="https://www.cnbc.com/2021/02/08/tesla-buys-1point5-billion-in-bitcoin.html">Bitcoin as payment for their cars</a> while investing $1.5 billion into the coin. Musk had a similar effect on <a href="https://markets.businessinsider.com/currencies/news/elon-musk-dogecoin-community-appointed-ceo-novogratz-galaxy-digital-2019-2021-5-1030389572">Dogecoin</a>, the cryptocurrency based on the meme of a Shiba Inu popular nearly a decade ago. Musk's first reference to <a href="https://twitter.com/elonmusk/status/1340590280848908288">doge came in December 2020</a> and since then he's mentioned it over a dozen times, calling it the <a href="https://twitter.com/elonmusk/status/1357241340313141249">"people's crypto."</a> Soon, other content creators started to push Doge, like Mia Khalifa who shared she was buying Dogecoin in January. Since then, the value of a single Dogecoin has risen over 1,000% and created a string of copycat cryptos to capitalize on the trend. Bitcoin, and other cryptos like Etherium, have a limited amount of pieces that can be created before the supply is gone. Alt options like Dogecoin can be mined forever without running out, making its value appealing to those willing to invest in an idea or meme that doesn't have as much intrinsic value.This follows the wave of hysteria around the rise in the price of <a href="https://markets.businessinsider.com/news/stocks/dogecoin-price-rally-like-gamestop-social-media-cryptocurrencies-celebrity-2021-5-1030395377">Gamestop stock</a> earlier this year, which was caused by Reddit users. <h2>Cryptocurrency investments are 'ultra-volatile'</h2>Investing in cryptocurrency is a risk with potentially high rewards. Unlike gold, which has real-world value, crypto is only valuable to those that see interest in the technology or the potential adaption could bring."Gold is, no pun intended, the standard if you want to measure purchasing power over millennia," JP Thierot, CEO of Uphold, a digital money platform, previously told <a href="https://markets.businessinsider.com/currencies/news/bitcoin-vs-gold-experts-cryptocurrency-precious-metals-analysis-2021-2-1030103905">Insider.</a> "What bitcoin would seem to possess is the potential to go up to multiples of a moonshot." A report in March from <a href="https://markets.businessinsider.com/currencies/news/bitcoin-price-volatility-forecast-limited-tradability-analysis-deutsche-bank-2021-3-1030229906">Deutsche Bank</a> labeled Bitcoin as "ultra-volatile," and that "in 2020, 28 million bitcoins changed hands (150% of total bitcoins in circulation), compared to 40 shares of Apple (270% of its total shares in circulation)." <a href="https://markets.businessinsider.com/currencies/news/bitcoin-volatile-dollar-cryptocurrencies-digital-currency-federal-reserve-jerome-powell-2021-3-1030233742">That same month</a>, Federal Reserve Chair Jerome Powell said that crypto assets are "not backed by anything. They're more of an asset for speculation."

Influencers like 17-year-old Charlie D'Amelio are endorsing risky cryptocurrency trading to their followers

<a href="https://www.businessinsider.com/instagram-testing-affiliate-marketing-tools-for-creators-2021-6"></a>Hi, this is Amanda Perelli and welcome back to <keyword id="11414264" type="UNKNOWN" weightage="60" keywordseo="insider-influencers">Insider Influencers</keyword>, our weekly rundown on the business of <keyword id="1112328" type="PERSON" weightage="60" keywordseo="Influencers">influencers</keyword>, creators, and social-media platforms. <a href="http://newsletter.businessinsider.com/join/influencerdashboard">Sign up for the newsletter here.</a>In this week's edition:<ul><li><keyword id="819905" type="COMPANY" weightage="60" keywordseo="Instagram">Instagram</keyword> unveiled three new features <a href="https://www.businessinsider.com/instagram-testing-affiliate-marketing-tools-for-creators-2021-6">aimed at helping creators earn money</a></li><li>A YouTuber with 1 million subscribers shares how much he <a href="https://www.businessinsider.com/how-much-money-youtube-pays-influencers-1-million-subscribers-2021-6">earns per month from his videos</a></li><li>The top strategies for fashion brands <a href="https://www.businessinsider.com/fanbytes-report-beaks-down-4-strategies-fashion-brands-go-viral-tiktok-2021-6">seeking to go viral on TikTok</a></li><li>And more including <a href="https://www.businessinsider.com/creator-economy-funding-signings-hires-snap-fanbytes-faze-clan-2021-6">creator economy startup news</a> and <a href="https://www.insider.com/trisha-paytas-quits-frenemies-ethan-klein-h3h3-ownership-split-2021-6">YouTube star Trisha Paytas quitting the "Frenemies" podcast.</a></li></ul>Send tips to aperelli@insider.com or DM me on Twitter at <a href="https://twitter.com/arperelli">@arperelli</a>.<h2><a href="https://www.businessinsider.com/instagram-testing-affiliate-marketing-tools-for-creators-2021-6"><div type="image" title="A screenshot of Mark Zuckerberg announcing new Instagram features." height="1236" width="2472" msid="83388315" hostid="261"></div></a></h2><h2><a href="https://www.businessinsider.com/instagram-testing-affiliate-marketing-tools-for-creators-2021-6">Mark Zuckerberg unveiled 3 Instagram features aimed at helping creators earn more money</a></h2>On Tuesday, Instagram launched its first-ever "Creator Week," a three-day virtual event.To kick it off, Mark Zuckerberg unveiled new tests and features aimed at helping creators earn money.Sydney Bradley broke down some upcoming tools Zuckerberg announced.Here are three key takeaways from Instagram's livestream:<ul><li>Instagram will start testing native affiliate-marketing tools for creators. Brands will be able to set their own commission rates, Zuckerberg said. </li><li>There will be more tools for creators selling their own products and merchandise. Creators with their own products will be able to link to their shops in their personal profiles. </li><li>Creators will be able to earn extra money through tips. Instagram and Facebook are adding tipping features that allow fans to pay creators. </li></ul>"Our goal is to be the best platform for creators like you to make a living," Zuckerberg said on the livestream. "And if you have an idea that you want to share with the world, you should be able to create it and get it out there easily and simply - across Facebook and Instagram - and then earn money for your work."<a href="https://www.businessinsider.com/instagram-testing-affiliate-marketing-tools-for-creators-2021-6">Check out the full story on new tools Instagram is releasing for creators, here.</a><h2><a href="https://www.businessinsider.com/how-much-money-youtube-pays-influencers-1-million-subscribers-2021-6">How much a YouTube creator with 1 million subscribers earns</a></h2><a href="https://www.businessinsider.com/how-much-money-youtube-pays-influencers-1-million-subscribers-2021-6"><div type="image" title="Nate O'Brien" height="2360" width="3147" msid="83388316" hostid="261"></div></a>Nate O'Brien is a <keyword id="10879" type="CITY" weightage="60" keywordseo="YouTube">YouTube</keyword> creator who films videos about personal finance.O'Brien started posting videos on YouTube in 2017. And in 2019, he decided to drop out of college to focus on YouTube full time.Now, he has about 1 million subscribers.I spoke with O'Brien about how much he makes on YouTube from ads per month:<ul><li>February: $39,200 (1.7 million views) </li><li>March: $31,500 (1.6 million views)</li><li>April: $25,700 (1.2 million views)</li></ul>"I don't think it's ever really too late to start," he said of building a YouTube career. <a href="https://www.businessinsider.com/how-much-money-youtube-pays-influencers-1-million-subscribers-2021-5">Check out the full story for a breakdown of O'Brien's influencer business, here.</a><h2><a href="https://www.businessinsider.com/how-much-money-instagram-influencer-charges-brands-sponsorship-earnings-rates-2021-6"></a><a href="https://www.businessinsider.com/fanbytes-report-beaks-down-4-strategies-fashion-brands-go-viral-tiktok-2021-6">A new report from a 'Gen Z' influencer agency breaks down 4 strategies for fashion brands seeking to go viral on TikTok</a></h2><a href="https://www.businessinsider.com/fanbytes-report-beaks-down-4-strategies-fashion-brands-go-viral-tiktok-2021-6"><div type="image" title="Emma Claire attends the boohoo Black Friday gifting suite on November 27, 2020 in Sydney, Australia." height="3260" width="4346" msid="83388317" hostid="261"></div></a>Fashion content is a popular category on <keyword id="6762469" type="UNKNOWN" weightage="60" keywordseo="TikTok">TikTok</keyword>, where users post outfits and buy featured items.Molly Innes wrote about a new report from the Gen-Z influencer agency Fanbytes that breaks down how fashion brands can go big on TikTok.Here were three key takeaways:<ul><li>Gen-Z consumers are looking to incorporate sustainable fashion into their wardrobes.</li><li>Fanbytes found that "#haul" and related hashtags saw a 28.9% increase in views between January and April 2021.</li><li>The #designerfashion hashtag amassed 31 million views in the year to April 2021, and an engagement rate of 11%, according to Fanbytes.</li></ul><a href="https://www.businessinsider.com/fanbytes-report-beaks-down-4-strategies-fashion-brands-go-viral-tiktok-2021-6">Check out more on how fashion brands can go viral on TikTok, here.</a><h2>More influencer industry news:</h2><ul><li><a href="https://www.businessinsider.com/chris-hansen-taking-back-our-power-movement-seth-francois-youtube-2021-6">Chris Hansen, Seth Francois, and a James Charles accuser launched a project meant to expose alleged abusers in the influencer industry.</a></li><li><a href="https://www.insider.com/trisha-paytas-quits-frenemies-ethan-klein-h3h3-ownership-split-2021-6">YouTube star Trisha Paytas says they are quitting the popular "Frenemies" podcast after ownership disputes.</a></li><li><a href="https://www.businessinsider.com/shopshops-raises-15-million-series-b-livestream-shopping-us-2021-6">Livestream-shopping platform ShopShops has raised more VC funding to grow its reach with English-speaking shoppers.</a></li><li><a href="https://www.businessinsider.com/crypto-bitcoin-investing-strategy-tiktok-influencer-pablo-heman-forecast-explanation-2021-6">A crypto influencer on TikTok explains his bitcoin investing strategy</a>. </li></ul><h2><a href="https://www.businessinsider.com/creator-economy-funding-signings-hires-snap-fanbytes-faze-clan-2021-6">Creator economy startup moves of the week</a>:</h2>Dispo, a photo-sharing app that went through a leadership and investor shake-up earlier this year <a href="https://www.businessinsider.com/vlog-squad-durte-dom-rape-allegation-david-dobrik-zeglaitis-video-2021-3">following Insider's investigation into the conduct of its cofounder David Dobrik</a>, confirmed it had closed a Series A round. The round included investors Alexis Ohanian's Seven Seven Six, Unshackled Ventures, Annie Leibovitz, and Raven B. Varona.The company's CEO said its team wants to be deliberate in how it builds its product to avoid some of the pitfalls other tech startups have faced."The early days of social <keyword id="6354777" type="COMPANY" weightage="100" keywordseo="Media">media</keyword> were all about 'move fast and break things,'" Daniel Liss told Fast Company. "Our thought is, 'move fast and build things.' How can you create something that is additive and not just destructive for the sake of growth?"Every week, Insider <a href="https://www.businessinsider.com/creator-economy-funding-signings-hires-snap-fanbytes-faze-clan-2021-6">gives a rundown</a> of news on hires, promotions, and other creator company announcements. This week <a href="https://www.businessinsider.com/creator-economy-funding-signings-hires-snap-fanbytes-faze-clan-2021-6">includes new hires at Snap, Fanbytes, and FaZe Clan's latest signing.</a>Read the <a href="https://www.businessinsider.com/creator-economy-funding-signings-hires-snap-fanbytes-faze-clan-2021-6">full rundown of creator industry moves, here.</a><h2><div type="image" title="Foryoupride" height="985" width="1314" msid="83388318" hostid="261"></div></h2><h2>TikTok's top trending hashtag of the week: </h2>Every week, we highlight a trending hashtag on TikTok, according to <a href="https://iq.kyra.com">data provided by Kyra IQ.</a>This week's hashtag: <a href="https://www.tiktok.com/tag/foryourpride" target="_blank" rel="noopener">foryourpride</a><a href="https://www.tiktok.com/tag/blacklivesmatter?lang=en"></a> <a href="https://www.tiktok.com/tag/buildabish" target="_blank" rel="noopener"></a><ul><li>The percentage uptick for the last 7 days: 4,715%</li><li>This uptick is centered around Pride month starting and creators celebrating the LGBTQIA+ community.</li></ul><div type="image" title="Black influencer" height="1500" width="2000" msid="83388319" hostid="261"></div><h2>Here's what else we're reading:</h2><ul><li><a href="https://www.nbcnews.com/pop-culture/pop-culture-news/iconic-doge-meme-be-auctioned-nft-n1269809">The iconic "Doge" meme will be auctioned as NFT</a> (Kalhan Rosenblatt, from NBC News)</li><li><a href="https://www.nytimes.com/2021/06/08/style/creator-burnout-social-media.html">Young creators who have found fame on TikTok are burning out</a> (Taylor Lorenz, from The New York Times)</li><li><a href="https://www.fastcompany.com/90644409/inside-photo-sharing-app-dispo-second-shot-instagram-killer?partner=rss&amp;utm_source=rss&amp;utm_medium=feed&amp;utm_campaign=rss+fastcompany&amp;utm_content=rss?cid=searcht=rss?cid=search">How photo app Dispo is making a comeback after David Dobrik stepped down</a> (Nicole LaPorte, from Fast Company)</li><li><a href="https://www.vox.com/the-goods/22519100/snapchat-spotlight-forgotten-gen-z">Why Snap's users and investors have such different ideas about what the platform is for</a> (Terry Nguyen, from Vox)</li></ul><h2><a href="http://newsletter.businessinsider.com/join/influencerdashboard">Subscribe to the newsletter here</a>. </h2>

Instagram unveiled new features aimed at helping creators earn money

<a href="https://www.businessinsider.com/top-managers-and-agents-for-gaming-influencers-streamers-esports-2021-7"></a>Hi, this is Amanda Perelli and welcome back to <keyword id="11414264" type="UNKNOWN" weightage="60" keywordseo="insider-influencers">Insider Influencers</keyword>, our weekly rundown on the business of <keyword id="1112328" type="PERSON" weightage="60" keywordseo="Influencers">influencers</keyword>, creators, and social-media platforms. <a href="http://newsletter.businessinsider.com/join/influencerdashboard">Sign up for the newsletter here.</a>In this week's edition:<ul><li>The top managers and agents <a href="https://www.businessinsider.com/top-managers-and-agents-for-gaming-influencers-streamers-esports-2021-7">for gaming influencers and streamers</a></li><li><keyword id="10879" type="CITY" weightage="60" keywordseo="YouTube">YouTube</keyword> launches <a href="https://www.businessinsider.com/youtube-launches-new-super-thanks-tipping-feature-details-2021-7">a new tipping feature called Super Thanks</a></li><li>Brands are finding workarounds <a href="https://www.businessinsider.com/how-brands-are-impacted-by-tiktoks-new-influencer-marketing-rules-2021-7">to TikTok's new influencer-marketing rules</a></li><li>How an <keyword id="819905" type="COMPANY" weightage="60" keywordseo="Instagram">Instagram</keyword> influencer <a href="https://www.businessinsider.com/how-instagram-lifestyle-influencer-earned-700-thousand-dollars-details-2021-7">has booked $700,000 in brand deals this year</a><a href="https://www.businessinsider.com/how-much-money-youtube-pays-influencers-600000-subscribers-2021-6"></a></li><li>And more including <a href="https://www.businessinsider.com/day-in-the-life-nbc-youngest-news-anchor-savannah-sellers-2021-7">inside NBC's Snapchat news show</a> and <a href="https://www.businessinsider.com/gaming-studio-dei-lead-how-to-bring-diversity-to-industry-2021-7">a gaming studio's plan to bring more diversity to the company.</a></li></ul>Send tips to aperelli@insider.com or DM me on Twitter at <a href="https://twitter.com/arperelli">@arperelli</a>.<h1><a href="https://www.businessinsider.com/top-managers-and-agents-for-gaming-influencers-streamers-esports-2021-7"><div type="image" title="From left: Brandon Freytag, President of Talent at Loaded, Amber Howard, Head of Talent at TalentX Gaming, Madeline Clark, Talent Manager at Click Management, and Daniel Kang, Talent Manager at Underscore Talent with video game motif icons patterned on a purple background" height="1800" width="2400" msid="84645458" hostid="261"></div></a></h1><h1><a href="https://www.businessinsider.com/top-managers-and-agents-for-gaming-influencers-streamers-esports-2021-7">The top talent managers and agents for gaming YouTubers, streamers, and esports players </a></h1>Gaming content creators saw rapid growth in 2020, with <a href="https://www.businessinsider.com/how-much-instagram-influencers-can-earn-from-livestreaming-for-brands-2020-4">a boost to livestreaming content</a> and viewership in general.Marketers have taken note. For instance, the share of marketers who plan to use Twitch for influencer marketing more than doubled in the past year, according to a March survey by <a href="https://on.emarketer.com/rs/867-SLG-901/images/ii_thestateofthecreatoreconomy_2021.pdf">Linqia</a>.With this growth, the demand for managers and agents to help gaming influencers, streamers, and esports competitors juggle their success has increased. My colleague Michael Espinosa and I highlighted some of the top managers and agents who have helped shape the world of gaming creators in 2021. Here are some takeaways from <a href="https://www.businessinsider.com/top-managers-and-agents-for-gaming-influencers-streamers-esports-2021-7">Insider's second annual list</a>:<ul><li><a href="https://www.businessinsider.com/top-managers-and-agents-for-gaming-influencers-streamers-esports-2021-7#click-management-4">Click Management</a>: an Australian company managing clients like Lazarbeam, which was also appointed the exclusive Facebook Gaming creator service provider in Australia and New Zealand.</li><li><a href="https://www.businessinsider.com/top-managers-and-agents-for-gaming-influencers-streamers-esports-2021-7#night-media-9">Night Media</a>: manages a number of top YouTube creators in the vlogger-gaming space like MrBeast, Preston, and Aphmau.</li><li><a href="https://www.businessinsider.com/top-managers-and-agents-for-gaming-influencers-streamers-esports-2021-7#talentx-gaming-txg-12">TalentX Gaming</a>: the gaming arm of TalentX Entertainment, which manages clients like the gaming comedian LaurenzSide. </li></ul>"The gaming industry in general, and specifically mobile, has been exploding over the past year and a half," said Lance Frisbee, the cofounder and CEO of Aftershock <keyword id="6354777" type="COMPANY" weightage="100" keywordseo="Media">Media</keyword> Group. "It's been incredible to see the amount of focus and emphasis that companies are now putting on digital media and influencer marketing. As we look to the remainder of 2021, there are a ton of esports events and conventions that are starting to come back and that is really exciting as well."<a href="https://www.businessinsider.com/top-managers-and-agents-for-gaming-influencers-streamers-esports-2021-7">Check out the full story here to see which managers and agents we highlighted.</a><a href="https://www.businessinsider.com/youtube-launches-new-super-thanks-tipping-feature-details-2021-7"><div type="image" title="YouTube Super Thanks" height="685" width="914" msid="84645460" hostid="261"></div></a><h2><a href="https://www.businessinsider.com/youtube-launches-new-super-thanks-tipping-feature-details-2021-7">YouTube is launching a new tipping feature called Super Thanks</a></h2>YouTube is launching a new monetization tool, called Super Thanks, as it competes to win over creators.The new feature lets fans "donate" money to creators on all eligible video uploads, and gives creators another way to earn money directly on the platform. YouTube takes 30%.But how does it stack up against similar features from rivals?Here's a breakdown: <ul><li>Instagram "Badges": Fans can tip creators who livestream on Instagram using IG Live (creators get 100% of the revenue). </li><li>Facebook "Stars": Viewers can tip on livestream gaming videos on Facebook (<a href="https://www.facebook.com/business/help/324965061742889?id=2514811085399429">Facebook's revenue share that fans pay when they buy Stars varies between 5% and 30%).</a></li><li>Twitch "Bits": A virtual good fans can buy and use to "cheer" (tip) their favorite streamers (Twitch's cut is variable, but generally ranges from 18% to 28% in the US).</li><li><keyword id="6762469" type="UNKNOWN" weightage="60" keywordseo="TikTok">TikTok</keyword> "Gifts": Viewers can purchase a virtual icon to tip creators with during a livestream (TikTok's conversion between dollars and gifts is complicated; for a full explanation <a href="https://www.businessinsider.com/how-tiktok-influencers-creators-make-money-get-paid-ways-2020-8">read this</a>).</li></ul>Super Thanks is currently in beta and is slowly rolling out to all eligible creators later this year.<a href="https://www.businessinsider.com/youtube-launches-new-super-thanks-tipping-feature-details-2021-7">Read more about how the new feature works here.</a><a href="https://www.businessinsider.com/how-brands-are-impacted-by-tiktoks-new-influencer-marketing-rules-2021-7"><div type="image" title="tiktok september 15 deadline 4x3" height="1800" width="2401" msid="84645461" hostid="261"></div></a><h2><a href="https://www.businessinsider.com/how-brands-are-impacted-by-tiktoks-new-influencer-marketing-rules-2021-7">TikTok's new influencer-marketing rules block fintech and other categories. But brands are finding workarounds.</a></h2>TikTok recently blocked all financial companies, dating apps, and live-video platforms from sponsoring influencer posts on the app.But there are workarounds, including using TikTok's ad portal or posting on a brand's own account.My colleagues Dan Whateley and Molly Innes wrote about the new rules. Here are some key takeaways:<ul><li>A brand like Cash App can't pay an influencer to post a video on the creator's own account, but the company can still hire an influencer to make a promotional post for its brand-managed TikTok account. </li><li>The new restrictions are relatively narrow, and don't represent an outright ban for startups on TikTok's prohibited list. </li></ul>Marketers say TikTok's new policies are meant to protect the app's younger users from bad actors."I don't look at this as a hurdle as much as a safeguard to protect our talent," said Eric Jacks, chief strategy officer of Collab.<a href="https://www.businessinsider.com/how-brands-are-impacted-by-tiktoks-new-influencer-marketing-rules-2021-7">Check out more about the new policy and how brands are finding workarounds, here.</a><a href="https://www.businessinsider.com/how-instagram-lifestyle-influencer-earned-700-thousand-dollars-details-2021-7"><div type="image" title="JaLisa Jefferson is an influencer and is posing in the street wearing a dress and hat." height="702" width="936" msid="84645463" hostid="261"></div></a><h2><a href="https://www.businessinsider.com/how-instagram-lifestyle-influencer-earned-700-thousand-dollars-details-2021-7">How an Instagram influencer has booked over $700,000 in brand deals in 2021</a></h2>JaLisa Vaughn-Jefferson is a lifestyle influencer with 275,000 Instagram followers.It's only halfway into 2021, but she's already booked more than $700,000 in brand deals.This total is before taxes, and Vaughn-Jefferson's management also takes a percentage of brand deals.My colleague Sydney Bradley spoke with Vaughn-Jefferson on how she makes money as a full-time influencer.Here are a few key takeaways:<ul><li>Her engagement rate is high at about 4%, according to her management (the average engagement rate for accounts with more than 100,000 followers was between 1.3% and 1.6%). </li><li>She spends a lot of time responding to direct messages, and her team helps analyze what her audience is asking of her.</li></ul>"We're a business," she said. And just as brands strive to provide good customer service to their clients, she wants to provide her sponsors with good service.<a href="https://www.businessinsider.com/how-instagram-lifestyle-influencer-earned-700-thousand-dollars-details-2021-7">Read more about Vaughn-Jefferson's business and how she manages her career, here.</a><h2>More influencer industry news:</h2>TikTok<ul><li>Wave Wyld is a TikTok coach who helps brands and creators grow their accounts. <a href="https://www.businessinsider.com/tiktok-coach-shares-4-common-mistakes-brands-should-avoid-2021-7">She shared 4 common mistakes brands make.</a></li><li>TikToker Harry Raftus built an audience of over 1 million fans by chugging beers on camera. <a href="https://www.businessinsider.com/how-beer-chugging-tiktok-star-harry-raftus-built-business-2021-7">Here's a breakdown of how much money he makes from sponsorships.</a></li></ul>Instagram<ul><li>Influencers frequently share affiliate links in their Instagram Stories. <a href="https://www.businessinsider.com/how-influencers-make-money-using-affiliate-marketing-programs-examples-2021-7">We spoke with creators about how much money they earn using affiliate marketing.</a></li><li>Instagram is building a suite of money-making tools for creators. <a href="https://www.businessinsider.com/instagram-testing-several-features-to-pay-creators-money-2021-6">Here are 9 features it's testing or has begun to roll out.</a></li></ul>Snapchat<ul><li>Savannah Sellers hosts NBC's Snapchat news show, "Stay Tuned." <a href="https://www.businessinsider.com/day-in-the-life-nbc-youngest-news-anchor-savannah-sellers-2021-7">She walked Insider through her busy schedule.</a></li></ul>Gaming and esports<ul><li>A sports and esports betting startup aims to attract a younger generation. <a href="https://www.businessinsider.com/how-rivalry-esports-sports-betting-startup-targets-younger-bettors-2021-7">Here are four basic strategies that guide its approach to the market.</a></li><li>Rejess Marshall is the video-game developer Iron Galaxy Studios' program lead for diversity, equity, and inclusion. <a href="https://www.businessinsider.com/gaming-studio-dei-lead-how-to-bring-diversity-to-industry-2021-7">She shared her plans to diversify the studio.</a></li></ul><h2>Chart of the week:</h2><a href="https://on.emarketer.com/rs/867-SLG-901/images/ii_thestateofthecreatoreconomy_2021.pdf"><div type="image" title="eMarketer" height="886" width="922" msid="84645464" hostid="261"></div></a><a href="https://on.emarketer.com/rs/867-SLG-901/images/ii_thestateofthecreatoreconomy_2021.pdf">Check out the full study here.</a><h2><div type="image" title="TikTok" height="497" width="663" msid="84645466" hostid="261"></div></h2><h2>TikTok hashtag of the week: </h2>Every week, we highlight a top trending hashtag on TikTok, <a href="https://iq.kyra.com">according to data provided by Kyra IQ</a>.This week's hashtag: <a href="https://www.tiktok.com/tag/DeepRealization" target="_blank" rel="noopener">DeepRealization</a> <a href="https://www.tiktok.com/tag/buildabish" target="_blank" rel="noopener"></a><ul><li>The percentage uptick for the last 7 days: 7,836%</li><li>This uptick is centered around a trend where creators are realizing and reflecting on something in their lives. </li></ul><a href="https://www.nbcnews.com/tech/tech-news/wild-west-cryptocurrencies-social-media-influencers-rcna1469"><div type="image" title="Faze Clan" height="3189" width="4252" msid="84645469" hostid="261"></div></a><h2>Here's what else we're reading:</h2><ul><li><a href="https://www.nbcnews.com/tech/tech-news/wild-west-cryptocurrencies-social-media-influencers-rcna1469">FaZe Clan fans invested in cryptocurrency after influencers promoted it. Some say the token was a scam.</a> (Bianca Britton, from NBC News)</li><li><a href="https://www.cnbc.com/2021/07/20/kellie-gerardi-prepares-for-first-spaceflight-with-virgin-galactic.html">A bioastronautics researcher and TikToker will make her first spaceflight with Virgin Galactic</a> (Tom Huddleston Jr., from CNBC)</li><li><a href="https://www.glossy.co/beauty/indie-beauty-brands-embrace-shoppable-livestreaming/">How indie beauty brands are embracing shoppable livestreaming</a> (Liz Flora, from Glossy)</li><li><a href="https://www.nytimes.com/2021/07/19/technology/tiktok-resumes-jobs.html">Some Gen Z-ers are now applying for jobs using TikTok resumes</a> (Taylor Lorenz, from The New York Times)</li></ul><h2><a href="http://newsletter.businessinsider.com/join/influencerdashboard">Subscribe to the newsletter here</a>.</h2>And before you go, check out the top trending songs on TikTok this week to add to your playlist. The data was collected by UTA IQ, the research, analytics, and digital strategy division of United Talent Agency.<div type="image" title="UTA IQ" height="1327" width="1062" msid="84645475" hostid="261"></div><h2><a href="http://newsletter.businessinsider.com/join/influencerdashboard">Subscribe to the newsletter here</a>.</h2>

You Searched For "faze clan crypto scam" and got 10 results

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