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Five reasons PR for crypto industry is different | Opinion

Press Releases Crypto News Crypto-News Five reasons PR for crypto industry is different | Opinion

The rapidly evolving and complex nature of the crypto space requires PR specialists to navigate intricate technical concepts while also addressing a global and diverse community.

Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial.

Chris Dixon, a partner at the venture capital firm Andreessen Horowitz (a16z), once said: “Crypto has grown to over a trillion dollars in aggregate market capitalization with almost no marketing spend”. In my personal experience, crypto projects have some of the most sophisticated and expensive marketing, at least relative to their size and funding.

What makes crypto unique is the intense competition between protocols and projects to attract developers and users along with their capital. These projects often need to construct multi-sided networks and entice builders way before they have appealing consumer-facing projects. And the community is key, as demonstrated by all the more efficient and affordable Ethereum killers that still couldn’t dethrone it. In addition, users frequently have to entrust crypto projects with their money, which requires an immense amount of trust, especially in the industry that lost over $3.7 billion in 2022 alone.

This forces teams to spend money on PR and communications as yet another option to build trust and attract the audience they need. Ledger’s recent debacle showed the importance of choosing the right messaging and what could happen if you make a mistake.

Here’s why you need to do PR for crypto differently.

Community is key

As we have assessed, the community in crypto is paramount. A project might have to communicate with multiple audiences simultaneously, including users, developers, investors, and partners. A slight mistake could shatter the most important asset, which is their trust. Then you could face users selling off your token, withdrawing assets from your exchange or protocol.

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Author: Guest Post

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