Web3 marketing guide: 6 winning elements

Welcome back to Web3 Creator!

In today's edition, we're delving into the essential marketing guide for any Web3 startup or brand. We'll explore how to effectively fundraise with NFTs, the right strategies to employ, and the pitfalls to avoid.

For any queries or feedback, feel free to contact us at [email protected].

Now, let's dive into the headlines:

• Web3 marketing guide: 6 winning elements

• NFTs for fundraising: what you need to know

• Quick news & updates

• Charted insights

Web3 marketing guide: 6 winning elements

To implement Web3, Web2 companies should start by building a marketing strategy that embraces a "Web3 mindset".

Let’s get into the top 6 strategies for 2024:

1. Crypto content marketing: one of the biggest hurdles still existing in 2024 is the onboarding of Web2 users to Web3. You can help solve this barrier by creating simplified and easy-to-understand content for beginners. Share helpful information about cryptocurrencies, NFTs, DeFi, and Web3 concepts through blog posts, videos, and social media posts. Consistently sharing clear and concise educational content establishes your brand as a thought leader in the space, moreover, you can encourage user-generated content to foster a sense of community. For example: Coingecko's blog covers everything from crypto basics to advanced trading strategies.

2. Positive Web3 PR: as Web3 continues to gain mainstream adoption, companies should proactively shape the narrative around their Web3 offerings. This includes press releases, media interviews, and social media campaigns that showcase how your company is integrating blockchain tech to enhance transparency, security, and user empowerment. For instance: a company can share success stories of customers benefiting from their decentralized solutions. Effective PR helps build a positive brand image and foster community trust.

3. Partner with CT influencers: crypto Twitter (X) users spend most of their time in the trenches following influencers with massive followings. You can capitalize on their broad audience by simply choosing to partner with them, potentially increasing your brand awareness and attracting new users. Examples include sponsorships, reviews, influencer-hosted giveaways, joint spaces/webinars, or collaborated campaigns.

4. Build partnerships: building partnerships with other companies and projects in the Web3 space can accelerate growth and innovation. These partnerships can take various forms, such as technology integrations, co-marketing efforts, or collaborative product development. You can hire a Business Development (BD) Consultant to grow your partnerships.

5. Airdrop marketing: airdrop marketing involves distributing free tokens or cryptocurrencies to users as a way to promote a new project or reward loyal customers. This strategy can generate excitement, increase user engagement, and attract new users who might be interested in the token's potential value. For instance, one of the most successful airdrops in crypto history is Uniswap’s airdrop.

6. Video marketing: video marketing leverages the power of video content to explain, promote, and engage audiences with Web3 technologies. Videos can simplify complex blockchain concepts, showcase product features, and share customer testimonials. The best example is Whiteboard Crypto. They’re highly effective in capturing attention and conveying messages in an engaging and easily digestible format.

Why this matters: embracing these Web3 marketing strategies is crucial for Web2 companies transitioning into the decentralized digital landscape. These strategies build awareness, trust, and adoption.

NFTs for fundraising: what you need to know before jumping on the bandwagon…

Artists, activists, and institutions are turning to NFTs for fundraising. 

The Straits Times raised over $21,000 for a school fund and Ukraine's DAO sold an NFT of their flag for US$6.75 million in wartime funds. 

However, there are also notable failures, so let’s highlight the need for careful planning and execution when fundraising with NFTs.

Why NFTs are great for fundraising…

NFTs offer cost-effectiveness, transparency, and security. They connect projects with a global, passionate audience willing to donate generously.

For instance, The Giving Block reported average crypto donations of up to US$10,000, compared to traditional donations averaging around US$130. The number of donors is also increasing rapidly.

But here are 3 things to keep in mind:

1. Beware of potential risks and controversies: despite the benefits, NFTs are not risk-free. The World Wildlife Fund (WWF) faced backlash for their Tokens of Nature NFT series due to concerns about environmental impact. This incident underscores the importance of aligning your values with the blockchain technology you choose.

2. Understand your audience: to attract potential donors, understand your audience well. David Tng, Head of Growth at TZ APAC, suggests answering these key questions: What is the purpose of NFTs in this initiative? Decide why NFTs are necessary for your project and what role they will play, whether for awareness or as a reward mechanism. What does the NFT represent for the buyer? Provide a compelling reason for buyers to support your cause, such as a symbol of their contribution, exclusive artwork, or access to a private community.

3. Learn from mistakes: understanding the technology is crucial. The Ukrainian NFT fundraising project initially faced backlash for unclear token purposes but corrected the mistake quickly. Choose the right blockchain that aligns with your values, whether it's Ethereum, Solana, or Tezos.

What to do instead? Educate and communicate ✅

Education is vital for stakeholders to make informed decisions. Keep the public updated on your project's progress through social media, especially when new milestones are reached. Transparency and communication are critical to maintaining trust and engagement.

Fundraising with NFTs can be highly effective when done right.

Quick news & updates from the decentralized world

• Trump wants Bitcoin ‘made in the USA,’ hosts mining industry execs. [Link]

• Thailand's SEC revokes Zipmex license, following months of regulatory scrutiny. [Link]

• Tether plans to invest up to $1 billion in one year. Tether’s VC arm has already spent about $2 billion on tech like AI and alternative financial infrastructure. [Link]

• Spot Bitcoin ETFs suffer $200 million outflows as US CPI data looms. [Link]

• Polygon community treasury announces grants program for builders, initially distributing 35 million MATIC. [Link]

• BNB bounces back to all-time highs, and continues to re-establish itself after a rough 2023. [Link]

Charted Insights: DEX protocol Raydium’s volumes reach nearly high as $10 billion

According to @Ilemi’s Dune dashboard, Raydium volumes have been trending higher since mid-April. Still, last week’s volume breakout didn’t eclipse the DEX’s all-time weekly high of $12.4 billion.

Potentially boosted by the launch of memecoin projects like Iggy Azalea's MOTHER token, among others.

As with any memecoin, there’s little point in speculating on where things might go for the most speculative cryptocurrency types. But this much is true: these coins are tidy volume generators for DEXs. 

— Michael McSweeney

Editor’s Note: BTC $69, 423 comes charging back after a single U.S. macro data print reverses days of BTC price declines.

Next Issue Preview: We’ll discuss how Web3 analytics are different from Web2 analytics

That’s it for today! See you next week for more B2B crypto insights for your business.