BitClout's $75K Influencer Hack
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A story about how BitClout used a clever growth hack by pre-buying influencer coins to drive adoption.
"What they had done was they took all the popular Twitter people and they just pre-bought a bunch of their coins. When I joined, I think there was like $75,000 of value for me to just go claim. I was like 'okay, push that button, we'll see what happens.'
They had used the money they raised to buy up popular people's coins, and then to claim your coins you had to sign up for your account and tweet out 'Hey, I'm verifying my BitCloud.' That was going viral for a bit and that mechanic worked until it didn't work.
BitCloud failed and we know several people personally - Dharmesh and a few others that invested millions of dollars publicly into BitCloud. Smart people were doing it, it was an interesting idea, but ultimately that idea failed."
Shaan Puri
Host of MFM
Shaan Puri is the Chairman and Co-Founder of The Milk Road. He previously worked at Twitch as a Senior Director of Product, Mobile Gaming, and Emerging Markets. He also attended Duke University.