Quite recently, arguably the world’s biggest digital media influencer, Felix Arvid Ulf Kjellberg, or more commonly known as PewDiePie, from his channel name, signed an exclusive deal with a blockchain-based live streaming platform DLive. DLive used a cryptocurrency “Lino point” in its network. PewDiePie has a mammoth 96+ million subscribers on his channel on YouTube and this partnership proves that crypto has finally made its way to digital space influencers like PewDiePie despite all the issues faced by this decade-old crypto world in the form of lack of regulation and uncertainty.
The partnership with DLive has exposed PewDiePie’s following to a new use-case of blockchain technology in the area of live-streaming. This shows that there is more to blockchain than just bitcoin price speculation and trading. The technology carries serious potential in itself and can prove to be extremely effective to provide solutions to many issues linked to the centralized frameworks of today. But can it go even further to give PewDiePie his own personal cryptocurrency? What are the pre-requisites for such a plan and how will it help the big digital media celebrity? In order to compile an answer for a “PewDiePie Coin”, the need is to look at the prospects blockchain-based currencies provide.
Blockchain networks are decentralized and peer-to-peer, meaning there is no single authority in control of the network rather it is put in the hands of the nodes, maintaining the network. The distributed-ledger framework (DLT) makes sure that the record of transactions is visible to every node in the network thus maintaining a level of transparency and trustlessness. The transparency factor makes blockchain a highly effective tool in the finance industry, hence the use-cases like bitcoin. So will PewDiePie, a guy who maintains a staggering following of youth from around the world by just making comedy videos in a room, get any benefit from it? The answer, not necessarily.
PewDiePie earns from YouTube and his attempt to maintain his own blockchain-network might just prove to be an overkill. But it is quite viable for him to develop his token on some other blockchain, like Ethereum. But then again, it would just be another altcoin, or even termed “shitcoin”, for people other than his fanbase. His fanbase might not also feel driven enough to set up crypto accounts and specifically use his crypto coin for performing their activities online. Besides, PewDiePie does not seem to be like the guy who wants to get involved in the legislation and regulation processes revolving cryptos as he already has a pretty negative connotation in the mainstream media. So for “Pewds” to develop his own “PewDiePie Coin”, it’s a no-no call.
But there is certainly one aspect of cryptos that PewDiePie can use for good. The networks that are established by cryptos are global as they transcend national border and can help in global money transfers, arguably much easier and faster than the dreaded traditional banking system. As PewDiePie is often involved in fundraising activities, cryptos can give him the facilitation that he needs to raise more funds quickly. Through cryptos, PewDiePie can raise funding through his charity drives from around the globe with much ease. Cryptocurrencies are, in fact, internet-based currencies and can help in financial processes in the internet world. The prospects of transparency, trustlessness, and immutability is also automatically inherited.
Right now, the adoption of cryptocurrencies on a global level is not quite significant as in many countries they are even banned. There are many uncertainties surrounding cryptos largely due to its non-regulation and volatility. Official acceptance is also on the relatively lower side. If cryptos are to help in cases like fundraising for PewDiePie, global adoption is a major pre-requisite. But if such acts of people like PewDiePie using cryptos for charity drives take place in the future with more maturity cemented in the crypto space, it will expose the world with possibilities that cryptocurrencies provide, which will develop a more positive connotation of this space.
For PewDiePie, although developing a “PewDiePie Coin” might just be a non-viable goal, but using cryptos is pretty probable one, as witnessed in the case of DLive partnership. Just as crypto gets more legislative and technological advancements on its side, it is quite possible that PewDiePie will be seen using cryptos for his online initiatives in the future.