It is rather contradictory that there is a high demand for authenticity in today’s virtual space, where some platforms encourage the proliferation of idealized images, the products of digital alteration. Previous studies have examined how social media users perceive the authenticity and credibility of new digital celebrities—influencers—and the impacts on advertising outcomes. Authenticity in media communication has been defined in many ways, but most definitions include factors such as sincerity, trustworthiness, accuracy, originality, and spontaneity. Prior research on authenticity in computer-mediated communication emphasized the importance of three levels of authenticity, that of the source, of the message, and of the interaction. How social media influencers (SMIs) perceive their own authenticity is an understudied topic. SMIs are simultaneously perceived by their audiences as celebrities, experts, and consumers. Expanding their audiences is one of their goals. Being authentic at the beginning of one’s SMI career as a content creator might be simple, but it becomes much more challenging after one’s audience has grown significantly. Sponsorship can pose a challenge to an SMI’s authenticity. The present study aims to explore the role that authenticity plays for SMIs and develop a theoretical framework for understanding the self-perceived authenticity of SMIs. For this purpose, in-depth interviews were conducted with SMIs that have both national and international audiences (<em>N = </em>20). Sincerity, expertise, uniqueness, commitment to values, mediated realness, visibility, communication style, spontaneity, transparent and creative brand endorsement, commitment to followers, and frequency of interaction are the components of the proposed model.