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It seems there’s a new blockchain startup or cryptocurrency project everyday now. The nascent technology has democratized access to the sort of fundraising
infrastructure that was reserved for the big players. Those lower barriers to
entry have seen the industry flooded with interesting projects, savvy
developers, experienced engineering teams, entrepreneurial spirit and investor
cash from all across the globe.
To stand out, startups and entrepreneurs need to modify traditional public relations and marketing techniques. The result is what’s known as PR crypto. A successful PR crypto strategy can help you create a robust base of users, kick-start word of mouth to lower the costs of customer acquisition, and ultimately launch a successful initial coin offering (ICO) to fund your project.
Here’s how new teams and budding entrepreneurs can apply these
token PR techniques techniques to propel their ICO to the moon.
Nurture your believers.
Belief is a critical component of a blockchain project. The first few users of Bitcoin
would have never put money or computational resources into the project if they
didn’t believe the world needed a better alternative to fiat currency or the
possibility of Bitcoin replacing the dollar as the reserve currency. Since
then, every new blockchain project is based on this core set of believers.
To make your ICO a success, you need to nurture your early believers. Deploy a PR
crypto strategy that incentivises early adopters and keep repeating the team’s
ultimate mission and fundamental values to the first set of users to reinforce
belief in the project.
Create a brand identity
Regardless of how cutting-edge your technology is or how innovative your business model seems to be, users won’t connect or engage with your project unless it’s a
recognizable and recall-worthy brand. All the most successful crypto projects,
from Bitcoin to Ethereum, have developed a brand organically that attracts
investors, users, and developers.
For new startups, creating a solid brand is an uphill battle, but should be the
cornerstone of the PR strategy. If your users can identity your projects logo
and brand design within seconds, your team has successfully boosted the chances
of raising more money through ICO or attracting the top developers to the
Be open and honest
There’s been a lot of unscrupulous activity within the crypto community over the past
few years. Entire exchanges have been frozen, millions of dollars have been
lost, thousands of frauds uncovered, and hundreds of promising teams have
simply disappeared with all the funds raised from average investors.
At this stage, PR isn’t just about making your product and team stand out from rivals
and gain attention, it’s also about cementing trust. Being open about your
mistakes, sharing details about progress for the sake of transparency, and
regularly engaging with both supporters and critics on social media is a great
way to win the public’s goodwill before your launch your ICO.
Being trustworthy, creating a brand, and nurturing early supporters on your platform
is a great way to set the stage for a successful ICO or startup funding round.
EAK Digital is a leading Global Blockchain PR Agency that works with Blockchain start-ups to help them gain mass media coverage across both mainstream and crypto publications alike.