The future of DeFi is on TikTok
In July 2021, TikTok hit three billion downloads. The social network boasts more than one billion active monthly users. And, in the United States, TikTok is now more popular with Generation Z than Instagram.
Over the last six months, Bitcoin (BTC) has seen a drop of more than 70% from its all-time high north of $69,000 in 2021. Market volatility is to be expected. But, if decentralized finance (DeFi) is looking to have a future, it needs to be embraced by more people. The aforementioned volatility (as well as the cynicism of cryptocurrency in general) puts many investors off. Fortunately, members of Generation Z are far from your typical investors.
Finance on TikTok has become so popular that it has got its own portmanteau. Dubbed FinTok, finance-related content has seen a meteoric rise along with the social network itself. Last year, the #Crypto hashtag blew up, getting 1.9 billion videos. Uploads tagged #NFT increased by a mind-melting 93,000% (further fueled by the general boom in NFT interest). And, videos with the #StockTok hashtag garnered 1.4 billion views.
The glut of money management videos isn’t limited to the crypto market. Last year, the #PersonalFinance hashtag accrued more than 4.4 billion views, with content covering everything from tax and budgeting to savings and debt. Considered in the context of TikTok’s primary users — Generation Z — it shows that the youth of today have a healthy appetite for financial information. They just want to consume it soundtracked by a catchy pop song and a viral dance.
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Young adults are also leading digital asset adoption. According to the "Invest in You" survey by CNBC, 18-34-year-olds accounted for 15% of cryptocurrency investments,
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