September 13, 2023

Report: Everything For Everyone All At Once: Centralized Crypto Exchanges Brand Landscape

THE RELEVANCE HOUSE team is delighted to announce the launch of “Everything For Everyone All At Once,” an in-depth quantitative analysis of the cryptocurrency and Web3 branding landscape.

THE RELEVANCE HOUSE team is delighted to announce the launch of “Everything For Everyone All At Once,” an in-depth quantitative analysis of the cryptocurrency and Web3 branding landscape. The first edition, published today, unveils the key narratives of the top ten centralized crypto exchange brands. This research is the first of its kind to evaluate the state of branding in the emerging Web3 market.

The “Everything For Everyone All At Once” report series uses a proprietary methodology developed by THE RELEVANCE HOUSE based on psychological and societal models. The Centralized Crypto Exchanges Edition identifies key findings, including:

  • There are nine central narratives underpinning crypto exchange brands, catering to four distinct sets of user needs.
  • All of the top ten brands offer seemingly contradictory messaging, such as a focus on compliance alongside messages of financial revolution.
  • Messaging becomes less consistent and more contradictory with a higher amount of content on the page.

The untapped potential of branding in Web3

Branding represents a vast untapped opportunity for the blockchain and Web3 space. While leading brick-and-mortar and Web2 firms continue to redefine the meaning of brand recognition and engagement, branding in Web3 has been largely underutilized. Instead, firms typically reach for a limited handful of marketing communication tactics that have only proven sufficient for targeting niche audiences. If mass adoption is the goal, the industry needs a better way to reach global audiences. As was the case with earlier iterations of the internet, this will only happen once firms begin creating brands with global appeal.

Centralized crypto exchanges represent one of the largest and most well-recognized segments of the digital asset sector, so they made a natural starting point for THE RELEVANCE HOUSE’s proprietary research.

Our Co-Founder and Chief Relevance Officer, German Ramirez, further explains:

“Crypto exchanges have been almost forced into a relentless game of newcomer acquisition through name recognition achieved by high-profile partnerships with any other established brands such as sports teams or celebrities. This scattergun approach has been partly driven by the market’s notorious boom-and-bust cycles and partly by cutthroat competition.

But history teaches us that name recognition alone doesn’t generate long-term value, and crypto exchanges are struggling to find a coherent narrative that sticks during leaner times. Now, for the first time, I can qualify this statement with robust, objective analysis that supports my experiences and observations in this business.”

Using our methodology, the Centralized Crypto Exchanges Edition ranks each of the top ten crypto exchanges by brand consistency, highlights which exchanges are struggling to differentiate their brand while sending emotionally conflicting messaging, and provides food for thought as to the benefits of a simpler and more streamlined approach to branding.

This is the first edition in a series of reports, each of which will cover a different segment of the Web3 landscape. The next edition, which will be released in the coming weeks, will focus on branding for Layer 1 blockchain platforms. As the primary infrastructural layers powering the overall ecosystem, these platforms play a pivotal role. However, with the ability to differentiate on technical factors diminishing over time, branding is becoming an increasingly important factor in attracting developers and users alike.

The 19-page Centralized Crypto Exchanges Edition is available now as a free download.

P.S. We can also offer a full, 60-page version of the report, which includes details of all the individual findings and analytics used. If this is of interest to your organization, please contact us for more information.

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