Don't fall for the "Beauty premium" of some coin/site

[Yucky]

Beauty premium is a concept that's mostly related to the preference or bias that's given to individuals with a good look over their counterparts. It's the reason why good-looking individuals experience higher chances of getting a job over their less attractive counterparts. It's not just applicable to the job sector but also applies to the crypto space.

Some crypto enjoys beauty premium based on market sentiment rather than it intrinsic value. For instance, a crypto with strong community, large number of followers, good marketing strategy, high visibility and that's well branded with appealing user interface can easily attract investors and influence investment decision even when it's a possible scam project.

A crypto can also enjoy beauty premium from influencers who if they are able to back it up can easily get her followers to invest into it, and can cause bubbles that's driven by hypes leading to increased interest and investment regardless of the actual utility or value of the asset.

We've seen how dogecoin that initially came as a joke gained significant after Elon musk came into the equation causing it to gain value even though it lacked unique technological advantages. Same happened for tap swap that's currently enjoying the beauty premium of the Solana blockchain and is getting all hyped up.

The beauty premium is a strategy that works in terms of branding your project in a manner that gives it an appealing reputation but that doesn't make those project feasible. Regardless of how well branded a site is or which famous person it's linked with, don't always trust it 100%. It could be Beauty and well appealing but still end up being a scam project.

[Alpha Marine]

Altcoins spend a lot in marketing and marketing can take any form. This is one reason I've never been moved by popular altcoins. It's all a marketing strategy. They believe it is very well marketed and attract a lot of people then it would have a strong community and help the coin grow, but I don't believe a that's the way to gain a strong community.
I believe a strong community is one factor to determine a good coin, but a community gained from marketing won't last, sooner or later people would see that it's all a facade and they'll abandon the coin, but that's if the developers really care about growing the coin or they just want to make as much profit as possible.

A strong community is built on the fact that people truly believe in that coin for it's features just like bitcoin.
We have to understand that most of what altcoins do is just marketing. That's why you'll see a coin trending and everybody wants to own it. It's all marketing.

[Winterfrost]

Altcoins spend a lot in marketing and marketing can take any form. This is one reason I've never been moved by popular altcoins. It's all a marketing strategy. They believe it is very well marketed and attract a lot of people then it would have a strong community and help the coin grow, but I don't believe a that's the way to gain a strong community.
I believe a strong community is one factor to determine a good coin, but a community gained from marketing won't last, sooner or later people would see that it's all a facade and they'll abandon the coin, but that's if the developers really care about growing the coin or they just want to make as much profit as possible.

A strong community is built on the fact that people truly believe in that coin for it's features just like bitcoin.
We have to understand that most of what altcoins do is just marketing. That's why you'll see a coin trending and everybody wants to own it. It's all marketing.

Altcoins usually pull up strong base as in a large community in as much as their is some level of potential in the project that will make them want to partake in the investment.These communities can be found on different platforms like X (Twitter), Facebook and Telegram, many more but the real base of communities is mainly on the Telegram and a few investors often falls into the trap of believing that a large number of users in their platform signifies that the project is worth investing.

[btc78]

A crypto can also enjoy beauty premium from influencers who if they are able to back it up can easily get her followers to invest into it, and can cause bubbles that's driven by hypes leading to increased interest and investment regardless of the actual utility or value of the asset.

Personally if there is an influencer involved in a project and that influencer is not at all interested in crypto before the project, I consider it all to be fake. The legitimacy of the project just gets questioned. Do not trust influencers or celebrities and rather check their background first.

The beauty premium is a strategy that works in terms of branding your project in a manner that gives it an appealing reputation but that doesn't make those project feasible. Regardless of how well branded a site is or which famous person it's linked with, don't always trust it 100%. It could be Beauty and well appealing but still end up being a scam project.

Beauty is one thing to consider but if it all that a project can offer then maybe you should try to re-consider.

[Ndabagi01]

We've seen how dogecoin that initially came as a joke gained significant after Elon musk came into the equation causing it to gain value even though it lacked unique technological advantages. Same happened for tap swap that's currently enjoying the beauty premium of the Solana blockchain and is getting all hyped up.

Tap Swap have truly gotten a lot of hype and that was possible because of their launching that was planned to be on the Solana blockchain which now they’ve switched to another blockchain (Ton) network to launch on. It is unlikely for projects to switch blockchain some days to their launching pool. To some, it signifies a red flag, while to some it still sounds okay and cool to still believe in the success of the project. Nothing can be trusted on this space, so everything at your own discretion.

The beauty premium is a strategy that works in terms of branding your project in a manner that gives it an appealing reputation but that doesn't make those project feasible. Regardless of how well branded a site is or which famous person it's linked with, don't always trust it 100%. It could be Beauty and well appealing but still end up being a scam project.

For users who have spent more years in the crypto world and have at least witnessed the bitcoin cycle even once. They can be good in terms of technicals and how to go on research on projects that can do well and have a very advanced technology, technical team behind the project from onset. They can easily be spotted and if you’re not good at going on research to know projects that will do well, don’t fall for influencers but rather get in touch with someone familiar with such research to help you out and also give you some clues you need to watch out on to see a red flagged project even if it has been this vibes of beauty premium in it.

[angrybirdy]

A crypto can also enjoy beauty premium from influencers who if they are able to back it up can easily get her followers to invest into it, and can cause bubbles that's driven by hypes leading to increased interest and investment regardless of the actual utility or value of the asset.

Personally if there is an influencer involved in a project and that influencer is not at all interested in crypto before the project, I consider it all to be fake. The legitimacy of the project just gets questioned. Do not trust influencers or celebrities and rather check their background first.

Well that's true especially if that influencer is known as having no interest in crypto then they are really into money, for business purposes only. We all know how huge amount they can get once they signed and accept the contract. What we need to do is to investigate and check it first before going or doing such things because even those famous personality is not trusted.

[Stablexcoin]

Beauty premium is a concept that's mostly related to the preference or bias that's given to individuals with a good look over their counterparts. It's the reason why good-looking individuals experience higher chances of getting a job over their less attractive counterparts. It's not just applicable to the job sector but also applies to the crypto space.

This is true and it's mostly found in female genders. And it is something that is bad this is because most of the people employed because of their beauty cannot easily execute tasks or do the jobs properly. This may cause the downfall of the company or organization. I think it is foolish to pick someone because of their beauty if it is not a requirement. I know of some jobs like a waitress in the hotel, they mostly pick the beautiful ones so they may entice men to stick around the hotel often. It's part of business strategies. But if the work doesn't require such then beauty shouldn't be a criterion.

Some crypto enjoys beauty premium based on market sentiment rather than it intrinsic value. For instance, a crypto with strong community, large number of followers, good marketing strategy, high visibility and that's well branded with appealing user interface can easily attract investors and influence investment decision even when it's a possible scam project.

Like you, it's also applicable in the online space. Crypto or noncrypto. Several websites or platforms online are now using beautiful interfaces to attract users. Especially some social media apps which I do not want to mention. Some users would always think they are real not knowing they are purely scams. It is mostly found in dating apps and some crypto apps. Most times it is the platform with the funky look that seems to offer the right services.

[siniminomorocomunisakito]

A strong community is built on the fact that people truly believe in that coin for it's features just like bitcoin.
We have to understand that most of what altcoins do is just marketing. That's why you'll see a coin trending and everybody wants to own it. It's all marketing.

Of course that's true, it's just that what we need to be careful of is if they have reached a certain level of success at a certain point whether they will continue or they withdraw all assets and profits then leave the coin alone without development and leave it to the market, whether it goes up or not is not an issue. them again. this is what we are really afraid of.

[peter0425]

Beauty premium is a concept that's mostly related to the preference or bias that's given to individuals with a good look over their counterparts. It's the reason why good-looking individuals experience higher chances of getting a job over their less attractive counterparts. It's not just applicable to the job sector but also applies to the crypto space.

This is true and it's mostly found in female genders. And it is something that is bad this is because most of the people employed because of their beauty cannot easily execute tasks or do the jobs properly. This may cause the downfall of the company or organization. I think it is foolish to pick someone because of their beauty if it is not a requirement. I know of some jobs like a waitress in the hotel, they mostly pick the beautiful ones so they may entice men to stick around the hotel often. It's part of business strategies. But if the work doesn't require such then beauty shouldn't be a criterion.

it is the audience who must be blamed then lol. They wouldn’t hire employees based on looks if they didn’t know it would increase sales and improve other factors in their business. We shouldn’t play victim to looks.

Like you, it's also applicable in the online space. Crypto or noncrypto. Several websites or platforms online are now using beautiful interfaces to attract users. Especially some social media apps which I do not want to mention. Some users would always think they are real not knowing they are purely scams. It is mostly found in dating apps and some crypto apps. Most times it is the platform with the funky look that seems to offer the right services.

I think it’s also good to consider how it looks like because a lot of a person’s assumptions can come from a three second glance. If it looks trustworthy or not is up to what can people see.

[AVE5]

And such premium packages has mislead investors from Investing on attractive projects and finally looses their funds.
As the influencers in such cases, other factor that ushers investors to adopt a coin is the features and the graphic designs of the exchange listing the coins, so inexperienced Investors are just ignorantly being excited to adopt and invest on a coin simply because the graphics and features are beautiful on the background overview without considering reputable.

[jrrsparkles]

Brand value is as important as the utility of the product that is why you see companies spending millions of dollars on every day even though they are known to the entire world which seems logical right and that applies here to the crypto community as well, let's say there is a great project but no one is aware of its existence then how can you expect people to find it and make an investment?

Don't compare it with bitcoin because when bitcoin was launched it was the only coin but now if there is a project launched there are thousands of projects launched on the same day so only those that reach more people will have a better chance of success than an actual project.

It's hard to accept but that's the truth.

[Maus0728]

But those stuff that you mentioned about the community behind it means that there's trust in it and most successful crypto were banking on that trust from their community so I don't get why it should be a disregarded factor, I mean if you disregard it, you'll probably end up getting into weird cryptocurrencies that doesn't have any community and is only there for the creator of that crypto to see if someone would buy their easily assembled and totally useless crypto. I think that these "beauty premiums" that you're talking about still matters in choosing the right cryptocurrency but maybe the right thing is that you should never give into it and you should still consider other factors when investing.

[yhiaali3]

Yes, what you say is true. The beauty premium or beauty advantage or what we can call the special attractiveness of something makes it superior to its counterparts even though it is less valuable. In reality, many trivial things in our lives are very popular, which makes them highly valuable.

As for cryptocurrencies, I expect that the matter is not related to the beauty premium as much as it is related to good promotion, especially by beloved or influential figures in society, such as Elon Musk, or football stars and Hollywood stars. When such people promote a coin, it becomes of a high beauty premium.

For me, I see that Bitcoin is the currency that has the greatest beauty premium ever, in addition to its real value, which is gained from itself and not just because of its beauty.

[Die_empty]

Beauty premium is a concept that's mostly related to the preference or bias that's given to individuals with a good look over their counterparts. It's the reason why good-looking individuals experience higher chances of getting a job over their less attractive counterparts. It's not just applicable to the job sector but also applies to the crypto space.

This is a big problem in the job recruitment market. They are more concerned with the physical appearance of applicants than their abilities. This is why most people spend more time on their appearance than intellectual or emotional capabilities.

Some crypto enjoys beauty premium based on market sentiment rather than it intrinsic value. For instance, a crypto with strong community, large number of followers, good marketing strategy, high visibility and that's well branded with appealing user interface can easily attract investors and influence investment decision even when it's a possible scam project.

This packaging will only attract newcomers in the crypto space. Social media followership and community membership can be inflated or manipulated, so it doesn't attract me. In fact, over-packaging or over-advertising, is a sign that the project is questionable.

A crypto can also enjoy beauty premium from influencers who if they are able to back it up can easily get her followers to invest into it, and can cause bubbles that's driven by hypes leading to increased interest and investment regardless of the actual utility or value of the asset.

These influencers sometimes partner with these scam projects. They are only concerned about making gains and don't usually consider the safety of their follower's funds. These hypes by these influencers are targeted at deceiving followers because I doubt if they have verified these projects. They will end up disassociating themselves from the project when it fails.

We've seen how dogecoin that initially came as a joke gained significant after Elon musk came into the equation causing it to gain value even though it lacked unique technological advantages. Same happened for tap swap that's currently enjoying the beauty premium of the Solana blockchain and is getting all hyped up.

Dogecoin is just an example out of thousands of failed projects. People have lost money on countless projects that were hyped by celebrities.

The beauty premium is a strategy that works in terms of branding your project in a manner that gives it an appealing reputation but that doesn't make those project feasible. Regardless of how well branded a site is or which famous person it's linked with, don't always trust it 100%. It could be Beauty and well appealing but still end up being a scam project.

Verifying every project before investing is important. Every investor must do his own research and not depend on these media hypes. It is also important to invest only what you can afford to lose in such projects.

[kryptqnick]

I believe what the op is talking about is also known as the pretty privilege. While it shouldn't be a factor, I agree that it is a social factor in practice. It certainly applies to humans, and I think it also applies to all material things and to animals. But cryptos are digital, so apart from the logo, there isn't much space for this factor, unless you mean someone running ads featuring attractive people, of course. Marketing isn't what I'd generally consider a part of the beauty premium (or pretty privilege), but the op is right that a scam can hide behind nice marketing.

[Mrbluntzy]

Never judge a book by its cover is a commonly used parable in my school and I also used the parable to pick altcoins that am interested to invest on. I don't care about this beauty premium that you are talking about, if I want to invest in an altcoin, I first of all look at the development team, I also love to attend to the AMA meeting of the project and also the vision that is born for the project.

[Peanutswar]

That's how the popularity is so powerful sometimes they are using those to make an advertisement because of their influence, it depends on the number of followers, and their offer to those people just to advertise their product, the same with the crypto once you already built a good reputation with your different projects, and has an impact to the community for sure you can get an instant offering of a promotions like the coins and projects like NFT and etc. If you are a project manager of course you will choose the most influential that is afford by your team to promote your community.

[Porfirii]

Beauty premium is a concept that's mostly related to the preference or bias that's given to individuals with a good look over their counterparts. It's the reason why good-looking individuals experience higher chances of getting a job over their less attractive counterparts. It's not just applicable to the job sector but also applies to the crypto space.

-snip-

If I'm not wrong, you are talking about a specific case of the broader halo effect (in fact, this is the first time I read the term you mentioned "Beauty premium", and after this I doubt that I will forget it, so thanks for sharing).

A person's attractiveness has also been found to produce a halo effect. Attractiveness provides a valuable aspect of the halo effect to consider because it can be influenced by several specific traits.[42] These perceptions of attractiveness may affect judgments tied to personality traits. Physical attributes contribute to perceptions of attractiveness (e.g., physique, hair, eye color). For example, someone who is perceived as attractive, due in part to physical traits, may be more likely to be perceived as kind or intelligent. The role of attractiveness in producing the halo effect has been illustrated through a number of studies. Recent research, for example, has revealed that attractiveness may affect perceptions tied to life success and personality.[43] In this study, attractiveness was correlated with weight, indicating that attractiveness itself may be influenced by various specific traits.

IMO, this premium or effect is nothing more than another of many irrational injustices that permeate our contemporary culture, so I agree with your advice of not falling for it when it comes to cryptocurrencies either.

[God bless u]

Beauty premium is a concept that's mostly related to the preference or bias that's given to individuals with a good look over their counterparts. It's the reason why good-looking individuals experience higher chances of getting a job over their less attractive counterparts. It's not just applicable to the job sector but also applies to the crypto space.

Some crypto enjoys beauty premium based on market sentiment rather than it intrinsic value. For instance, a crypto with strong community, large number of followers, good marketing strategy, high visibility and that's well branded with appealing user interface can easily attract investors and influence investment decision even when it's a possible scam project.

A crypto can also enjoy beauty premium from influencers who if they are able to back it up can easily get her followers to invest into it, and can cause bubbles that's driven by hypes leading to increased interest and investment regardless of the actual utility or value of the asset.

We've seen how dogecoin that initially came as a joke gained significant after Elon musk came into the equation causing it to gain value even though it lacked unique technological advantages. Same happened for tap swap that's currently enjoying the beauty premium of the Solana blockchain and is getting all hyped up.

The beauty premium is a strategy that works in terms of branding your project in a manner that gives it an appealing reputation but that doesn't make those project feasible. Regardless of how well branded a site is or which famous person it's linked with, don't always trust it 100%. It could be Beauty and well appealing but still end up being a scam project.

Yeah that's a very good point. Nowadays as people have became so materialistic thats why they just see the beautiful branding of the projects and that's enough to make them to invest in that project. It shouldn't be like that due this the good projects which can't afford heavy brandings are made aside.

Fundamentals is the most important aspect that should be looked after in order to make the investments so that the people who doesn't the positive work can be appreciated.

[Reatim]

Yeah that's a very good point. Nowadays as people have became so materialistic thats why they just see the beautiful branding of the projects and that's enough to make them to invest in that project. It shouldn't be like that due this the good projects which can't afford heavy brandings are made aside.

Fundamentals is the most important aspect that should be looked after in order to make the investments so that the people who doesn't the positive work can be appreciated.

Just like they say “do not judge a book by its cover”. Some projects may look too simple but its utility is what matters the most. We need to review those intently instead of just basing on what looks good and what doesn’t look good.

As long as it can be used properly, its interface wouldn’t matter too much. Of course it could be improved but you have to consider that just because it’s not as advanced as others it means that it’s a bad project already.