Recently, many KOL agency owners have been discussing that running a KOL agency is a thankless job. Is it true or not? I, a novice, have just entered the KOL agency field with Snowball, and we also have collaborations with top-tier projects. Based on my personal experience in the KOL agency over this period, I would like to share some so-called insider information and correct some misunderstandings about KOL agencies. Is a KOL agency a "black intermediary"? Many people commonly think that KOL agencies take a budget from the project side, take a cut, and then give the rest to the KOLs, thus earning profits. This practice is colloquially known as a black intermediary in the industry. Indeed, some black intermediaries take too much, and we should resist such industry chaos. However, those who genuinely run KOL agencies primarily rely on service fees from the project side as their profit source. The budget given to KOLs is transparently priced to both the project side and the KOLs; the agency takes a cut based on how many KOLs they provide to the project side. So how is the service fee charged? Generally, the service fee for KOL agencies ranges from 20% to 30% of the project’s promotional budget. For example, if a project has a promotional budget of 20,000 USDT, then the agency would receive 4,000-6,000 USDT as a service fee. Of course, each agency has different charging models, so there will be variations. There are also some agencies that take a cut from the KOL's promotional budget without charging a service fee. From my personal experience, this is easy to identify. First, look at the project. For well-known projects, such as those backed by top-tier firms or leading VCs, the project side will generally seek to collaborate with agencies that have a good reputation and extensive resources in the industry. These projects typically look for KOLs who are mid-tier or top-tier, especially top-tier KOLs, who have transparent pricing that everyone in the industry knows, making it difficult for them to take a cut from the KOL's budget. To be honest, project sides are not foolish, especially since many project sides have their own BD teams gradually creating KOL accounts, and they are present in almost all major KOL groups. Therefore, top-tier projects do not engage in profit-taking, and these top-tier projects often collaborate with agencies on long-term packages; no one would risk offending others for such small profits. So, what type of promotional projects are likely to encounter so-called "black intermediaries"? Projects that are low-quality, where the project side is foreign, and where the project side is naive and has a lot of money with simple demands like copying and pasting ads. The project side may not be working with a professional KOL agency but rather with a specific KOL or a small intermediary. Because foreigners or some project sides that do not understand the industry lack the ability to discern KOL influence, to put it bluntly, if you create an account with hundreds of thousands of followers and use a bunch of fake accounts to boost likes, comments, and views, these project sides will believe you are a top influencer in the Chinese-speaking area. Generally, in such projects, intermediaries take a cut and often pay 10-50 USDT to the KOLs, and there are 3-4 layers of small intermediaries below, each taking a cut, leaving very little in the end. This creates an internal competition in the industry, and many KOLs often criticize so-called fake follower groups. From the agency's perspective, everything that exists is reasonable. Many project sides often need these groups. For example, some low-quality projects that have not been listed on exchanges and have not received funding cannot afford a large promotional budget. They are not looking to gain users through promotion; they just want to create some buzz. Therefore, with limited budgets, they can only seek out these groups. Recently, Master Pang @kiki520_eth posted a tweet about KOL income that sparked a lot of discussions. In fact, many so-called group incomes are really not low. From what I understand, some groups have 10-20 matrix accounts and receive 10-100 USDT for ads daily, averaging 5-6 ads a day when things are good, not picky about projects or fees, just taking what they can get. All accounts combined can earn tens of thousands of USDT each month. However, some KOLs with good traffic and content value their personal brand and image, so they are more selective about the ads they take, resulting in significantly lower income compared to these groups. As a KOL agency, this business is indeed labor-intensive and requires immense patience and high emotional intelligence. To be honest, both sides are like parents. The project side is a parent, and the KOL is also a parent. If a KOL agency is very arrogant, it only shows that they are not well-connected in the industry. Although Snowball has just started as an agency, we have also connected with top industry leaders and projects. To be honest, top projects carry a sense of superiority, just like exchanges; mentioning Binance brings respect. Moreover, many agencies and KOLs actively seek to connect with these top-tier projects. After all, collaborating with top-tier projects can elevate one's level. Furthermore, top-tier projects are very selective about KOLs, generally only seeking the best. Top KOLs are currently the most powerful magnets in this circle. Retail investors' liquidity and traffic are largely dominated by top KOLs. So every time we connect with top-tier projects and KOLs, we maintain a humble and friendly attitude, hoping to help the project side successfully complete their promotions while also eager to build good relationships with more excellent KOLs. I believe the essence of a KOL agency is a mutually beneficial business. Of course, this business is indeed labor-intensive; the communication work in the early stages accounts for 99% of the difficulty of this business. Therefore, I deeply understand the challenges and grievances that many KOL agency owners face during their work. As a newly established KOL agency, I hope to make friends with more excellent KOLs. I believe that the most valuable asset in the future of the crypto space will be KOLs. CEX, DEX, DeFi, GameFi, AI, RWA—these sectors may be eliminated, but industry KOLs will continue to emerge like bamboo shoots after rain. People are the greatest wealth; respect to all teachers. I hope everyone can support me more; I am very grateful 🙏🙏🙏.