This week: Are Bitcoin and Ethereum trying to enact a full-on “flippening”? Crypto infrastructure projects continue to shine, and Jack Dorsey is back with yet another launch.
frequent asked questions
Minting NFTs is the easy part. The trick is finding a way to use NFTs that complements your existing brand and provides value to your customers. The value doesn’t need to be financial – NFTs can be attached to images, gifs, or audio files that evoke emotional or sentimental value. We’ve seen some fantastic examples of brands leveraging NFTs in sectors including FMCG, luxury, sport, and food service, among others. There are also some cases where implementing NFTs has been more of a learning exercise. We can help you find a way to leverage NFTs as a brand booster.
Absolutely not! Public blockchains and cryptocurrencies are decentralized technologies – they aren’t owned or operated by any single entity. Let’s be clear, some bad actors have used mechanisms involving cryptocurrencies – such as token sales, exchanges, or investment funds – as a vehicle for Ponzi schemes. But the vast majority of people in the sector are just like us – here because we believe in the capabilities and potential of the technology.
Way back in 2013, an intoxicated Bitcoin supporter posted a now-legendary, typo-riddled entry to the Bitcointalk forum, titled “I AM HODLING” in reference to his determination not to sell his BTC. The crypto community has a long memory, apparently, because the typo lives on.
Dog memes have been around since the inception of Dogecoin in 2013. Dogecoin may have faded into oblivion as an obscure altcoin, but in 2021, Elon Musk decided to jump on the DOGE bandwagon. For better or worse, the dogs are here to stay.
Since crypto grew out of such niche cypherpunk roots, hashtags and memes have simply become part of the tribal identity of the core community. However, these days, the sector is so large with so many sub-segments, the adoption of these symbols is completely optional. Consider it a branding decision.
Blockchain is an infrastructural technology enabling permanent, unalterable peer-to-peer transactions, so it’s used in a huge variety of enterprise use cases. In finance, to enable 24/7 real-time settlement of payments outside of banking hours. In digital media, to create permanent archival versions of web pages for the purposes of historical record and fact-checking. In gaming, to enable the ownership and transferability of in-game assets. And this is just the beginning — there are so many more use cases. If you’re interested to learn more about how blockchain or Web3 is being used in your sector, come and talk to us.
Promises about future token prices aren’t made to customers who are excited to use a product or service – they’re made to speculators seeking returns. The businesses that stand out and succeed in the Web3 and blockchain space use the same strategies as successful businesses in any other sector – ones that focus on customer acquisition based on a strong brand. These are the factors that attract legitimate investors and generate sustainable financial growth.
PR and marketing are a way to get your company in front of potential customers. But without a brand, what makes you stand apart from the competition? What makes your company memorable enough to stick in someone’s mind when they think about your type of product? Your brand should be considered literal – you want it burned onto people’s brains, so they associate it with your product without thinking. Nobody asks for a cola-flavored drink – everyone asks for a Coke. That’s the power of a brand.
Apart from all the hashtags and dog memes, there are some other differences in Web3 marketing, branding, and communications. Many projects use tokens, and token holders are a somewhat unique stakeholder group with interests somewhere between shareholders and customers. Furthermore, the sector has its own trade publications with their own gatekeepers.
There’s also the technological aspect. Blockchain and Web3 projects will require their marketing professionals to have an understanding of the underlying technology and be able to explain complex concepts in a way that’s easy to understand. Our decades of combined experience in this sector give THE RELEVANCE HOUSE the edge when it comes to even the most technically sophisticated platforms and applications.
Telegram is popular in the crypto community and many projects run one or more groups where people can engage with project representatives. It can be a useful tool for marketing and advertising, as well as audience segmentation. However, groups inevitably require some moderation, which means financial investment. We recommend that Telegram is used as a tactical engagement tool to be deployed as part of a broader marketing strategy rather than merely a member acquisition platform.
Interesting fact – the average lifespan of a tweet is just 24 minutes. After that, it gets buried in the quagmire of the 35-million-odd other tweets that people have sent in the same hour. What’s more, branding is about a lot more than just your Twitter account (although getting your handle secured is a great start!) Fortunately, brand building can be done in a way that’s methodical, logical, and proven. Give us a call, and we’ll show you how.
Your community marketing agency will focus on building and strengthening relationships with your communities. However, you still need a brand, and to get that brand in front of new customers if your company is to grow. That’s where THE RELEVANCE HOUSE comes in.
Still have questions? We’d love to hear them! If you’re a blockchain or Web3 business looking to grow or scale, or are seeking to explore this emerging technology for your business, then drop us a line and let’s talk.
Articles & Resources
In case you want to do some reading until we get back to you!