Phemex, a leading digital asset exchange, recognizes the pivotal role that platforms play as trusted partners in nurturing crypto communities. That’s why it has a detailed plan to ensure its traders are united and empowered.
The team behind Phemex has recently rolled out its new social trading feature, PhemexPulse, and it swiftly grabbed the crypto space’s attention. Intrinsically linked to the Web3 ecosystem, PhemexPulse offers a lucrative daily earning scheme that turns your routine social interactions into crypto rewards.
However, the appeal of PhemexPulse extends beyond its rewards scheme, giving back to users for their engagement. The platform also features a unique inscription marketplace, where key opinion leaders (KOLs) can release exclusive inscriptions for their followers to mint, collect and trade. Ben Armstrong, a prominent figure in the crypto world, was the first to introduce his inscriptions on PhemexPulse, which led to an impressive surge in value of over 7,296% within the initial post-launch hours. This momentum was sustained over the next five days, culminating in a new all-time high (ATH) on March 20, representing a 56% increase from its initial peak. This remarkable growth translated into a cumulative 11,400% gain for the asset holders. In just one week's time, a user who started by minting 10 inscriptions, earning them 10 PT on day one, has experienced a staggering growth, with their holdings skyrocketing to 1000 PT.
“Ben has long been a pivotal influencer within the crypto sphere, offering seasoned advice to crypto enthusiasts,” says Phemex COO Stella Chan. “His decision to release his inscriptions on PhemexPulse was met with enthusiasm, as the community eagerly seized the opportunity to acquire them.”
Description of inscription
Before we get too far ahead of ourselves, though, let’s assume not everyone knows what inscriptions – and their related assets, ordinals – are. They’ve only been around for about a year.
They’re basically NFTs predicated on bitcoin. Ordinals are a system for ordering sats – that is, bitcoin fractions – in a way that renders them non-fungible. Inscriptions, then, are the contents of the ordinal NFT. They can be images, videos, texts or any other data.
On PhemexPulse, KOLs act as content creators and can also launch their distinct ordinals through an inscription marketplace, allowing the community’s aggregate demand to determine the value of each. Supporters vote with their wallets by acquiring these inscriptions to engage with and back their preferred influencers on PhemexPulse.
Recently, Armstrong – who has 100,000 YouTube followers – introduced his exclusive inscriptions on PhemexPulse, limiting ownership to just 600 enthusiasts, with no more than 10 inscriptions per person. Scarcity tends to drive up prices, so the market met this release with an immediate surge.
“Ben’s inscriptions are a testament to the explosive potential in this space,” according to Chan. “At Phemex, we're not just strengthening community ties by facilitating deeper connections with leading crypto figures, but also providing a gateway to a vibrant market.”
KOLs including Armstrong can nest pretty much any kind of data they want in these NFTs. Some might be collectible in their own right with no intrinsic value beyond the influencer’s fandom – but they might still be fun and lucrative to acquire. Others, though, could conceivably contain investment tips, instructions to access insider-only coin drops or other opportunities to earn. And there’s a potential early-adopter benefit to acquiring inscriptions before anyone else has even heard of them.
The value of inscriptions on PhemexPulse are measured in PT, Phemex’s native coin.
Room for more KOLs and their followers
While Armstrong deserves credit for paving the way, the inscription market has a lot of growth potential for other influencers looking to get in on the ground floor.
KOLs can monetize their influence on PhemexPulse simply by creating their own Web3 group, funded by Phemex. By attracting followers with top-notch content and trading tips, these influencers and their followers can unlock daily PT rewards based on their accumulated points.
Indeed, the landscape is crowded with various social networking platforms that users frequent, particularly during a bull market. However, PhemexPulse distinguishes itself by not only rewarding users for their consistent online engagement, but also by fostering a closer relationship between KOLs and their followers within a conversational environment. It has already cultivated a dynamic marketplace where unique creations can be minted, held and valued. Phemex is now inviting more content creators to join PhemexPulse and establish their own groups, capitalizing on the myriad opportunities that both they and the market offer.
For more information, to join a PhemexPulse group or to create your own using, visit its website.