Is Blockchain PR Necessary?
The cryptocurrency industry was born as a counterculture movement against the economic status quo established by big banks and sovereign states. Bitcoin was created shortly after the financial crisis of 2008, in what most people consider a reaction to the hubris, costs, and inefficiencies of the global system of capital.
Yet ten years later the cryptocurrency industry has transformed beyond recognition. Startups with wealthy investors and tech giants with innovative blockchain projects tend to capture all the media attention. Developer events are overwhelmed with inexperienced entrepreneurs relentlessly trying to plug their products. The industry is as crowded and noisy as ever, with a new project being launched every other day.
Thousands of token projects and blockchain startups now compete for the ultimate prize in the cryptocurrency industry – mass adoption. By design, blockchain-based platforms need a lot of users spread across the world to add value. Decentralized lending platforms, dApps, social gaming platforms, and distributed file storage solutions need a network that spans the globe and includes thousands if not millions of nodes.
Even the most basic crowdfunding project or initial coin offering requires widespread awareness of the project. Raising money to take the project forward is nearly impossible without a core base of supporters willing to pitch in with their talent or cash.
That’s what makes blockchain PR such a necessity for authentic entrepreneurs and teams trying to make a difference. Traditional marketing and public relations strategies can help a project stand out from the crowd and establish a network of users and developers early.
While it’s easy to assume that the best projects will have grassroots support and simply create their network of users organically, in reality even the best projects with the most experienced teams can be overshadowed by a mega corporation with money to spend on event promotions and roundtable dinners with hedge fund investors.
The best blockchain PR agencies can help an authentic team streamline their message and get it across to the early adopters and developers need the product the most. These professional service providers can help ordinary teams extend their resources and reach their target market efficiently, educating potential users about the benefits and unique features of each platform.
Meanwhile, lack of a robust PR strategy could kill a project before it even launches. Lack of communication from the founding team and backend developers can frustrate new users. Misunderstandings about the project or the underlying platform could be perpetuated by traditional media outlets and social media users causing irreparable damage to a startup’s brand. Most importantly, lack of a professional PR strategy allows rivals to set the tone and control the public discourse about a unique and innovative product that threatens their core operations.
With this in mind, it seems traditional public relations and marketing strategies can add genuine value to innovative startups in the cryptocurrency space. Entrepreneurs should consider reaching out to experienced professionals that can help them fine-tune their message and ultimately deliver their solutions to the widest possible audience.