This paper is published in Volume-8, Issue-5, 2022
Area
Finance
Author
Venyaa Yadav
Org/Univ
Modern Public School Vasant Kunj, New Delhi, Delhi, India
Pub. Date
29 November, 2022
Paper ID
V8I5-1226
Publisher
Keywords
Cryptocurrency, Non-Fungible Tokens, Social Media

Citationsacebook

IEEE
Venyaa Yadav. Social media is influencing the rise of NFTs and Cryptocurrency, International Journal of Advance Research, Ideas and Innovations in Technology, www.IJARIIT.com.

APA
Venyaa Yadav (2022). Social media is influencing the rise of NFTs and Cryptocurrency. International Journal of Advance Research, Ideas and Innovations in Technology, 8(5) www.IJARIIT.com.

MLA
Venyaa Yadav. "Social media is influencing the rise of NFTs and Cryptocurrency." International Journal of Advance Research, Ideas and Innovations in Technology 8.5 (2022). www.IJARIIT.com.

Abstract

Ever since the pandemic years, there has been a global wave in the popularity of Cryptocurrency and Non-Fungible Tokens (NFTs). Even people who don't have much knowledge about the financial world have heard these terms and a significant chunk have heard about it through social media that almost all of us use on a daily basis. The purpose of this study is to analyze the role social media played in making NFTs and Cryptocurrency Mainstream. In this paper, secondary data from previous studies were analyzed, and based on a review of the literature on the popularity of NFTs and cryptocurrency from social media, an online survey was conducted in which respondents had to answer three multiple-choice questions. Analysis of secondary data and responses demonstrated that social media fueled the skyrocketing popularity of Cryptocurrency and NFTs. The results are in line with the hypothesis and indicate that social media does play a major role in influencing the popularity of Cryptocurrency and NFTs.