In a recent ad for cryptocurrency exchange FTX, Tom Brady asks seemingly everyone in his contact list, “You in?” As in, are you going to join him in buying some crypto, and not, presumably, in being a football star married to a supermodel. The pitch is straightforward celebrity-endorsement fare, designed to capitalize on the FOMO that is the standard psychological tactic of those who are already invested in cryptocurrencies and related technologies, and who would like the rest of us to come aboard. Mr. Brady has an equity stake in FTX.
A “You in?”-style pitch is also typical of successful multilevel marketing companies. Both make a virtue of the fact that our getting “in” will obviously enrich those urging us to do so, by driving up the value of their own holdings or network. And then, hey, the same could be true for us!
It’s a siren song as old as the promise of attaining financial freedom by selling herbal supplements, cosmetics or leggings from the comfort of your home, enhanced and refined by the ways in which modern communications systems can rapidly elevate ideas and movements from the fringe to the center of national and global conversation.
But how does owning or trading crypto, which is after all just data—infinitely reproducible, supposedly nearly free thanks to the internet—make one rich? Or for that matter, owning or trading other digital assets like NFTs (or “nonfungible tokens”) that have become all the rage among celebrity art collectors? The straightforward premise: By using the blockchain—a type of public database that anyone can access and everyone can (supposedly) trust—it is possible to create a chunk of data, known as a token, that is unique in the world, and cannot be reproduced. In other words, it is possible to make a digital object, be it a piece of art or a crypto coin, scarce.There’s a paradox at the root of the growing crypto ecosystem—a disconnect between the technology and the economics. While individual digital assets—bitcoins, pictures of “bored apes,” giant JPEGs of everything the artist Beeple has ever produced—can be unique, the underlying nature of the internet means that there is, in aggregate, a potentially infinite supply of cryptocurrency, NFTs and all the other exchangeable tokens that make up “crypto” and the broader vision for a decentralized internet known as “Web3.”What is cryptocurrency marketing? Cryptocurrency marketing revolves around better branding, website and digital platform design. As the number of coins and ICOs increases in the market, new and existing crypto coins need to stand out.Cryptocurrency digital marketing involves building a community of enthusiasts who are interested in your products. Social channels and content marketing play a significant role in community building.
Crypto influencer marketing is also extremely useful to drive conversations. Crypto marketing is highly selective, so greater focus is given to the buyer persona, the channels used for promotion, the storytelling approach, and the keywords used to target crypto enthusiasts.A cryptocurrency company preparing for an initial coin offering, introducing a new product to the marketplace, or trying to sell its technology to other businesses requires a targeted and high-impact marketing strategy that’s innovative and proven.
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