Cryptocurrency: The Maturation of Marketingbr>
At this point, we’re all tired of the ‘hype-trains’. We’ve seen our fair share of crypto ‘shill-masters’ and snake oil salesmen. I am sure we’ve even bought a few round-trip tickets to ‘Shillcoin, USA’ (yea that’s right I said shill twice) — only to come home humbled and probably worse for the wear. We’ve been craving real-world application, and yet buying into elaborate roadmaps of a glittery futurama.
However, a maturation of crypto marketing is happening before our very eyes. We’re starting to tune out the usual false promises. We’re beginning to do a lot more research, and not simply piggybacking crypto-swindlers.
We are starting to care more about companies having a functional product or service (DUH!). We’re beginning to dig deeper on the team, and reviewing past successes and failures. We now care about SEC compliance, and staying within the framework of all mandated regulations: country to country. We don’t just skim the Whitepapers anymore, but are now diving a bit deeper. We check telegram channels and ask engaging questions. #DYOR (Do Your Own Research) is catching on. Market participants expect more, and rightfully so.
Companies have a better shot at growing their communities by prioritizing compliance rather than announcing some truth-less partnership with Kanye West (Yes Coinye actually happened). Look at the landscape; Facebook banned ads promoting cryptocurrencies, Google followed suit, and Twitter is also working towards banning crypto scams. These organizations took a step towards stopping the get rich quick schemes and ponzi coins from pervading our news feeds. Integrity is becoming the most valued commodity in crypto, so let’s get down to business!
Fake news isn’t solely reserved for politics, it is everywhere in the cryptosphere. Now we need to see it to believe it. A working product and functional services are becoming a prerequisite for any investor consideration. It’s not about buying an idea anymore, projects need to provide the cryptoshpere with empirical evidence that they have what it takes, and that they deserve our time, our money and our support. The bare minimum requirement of a real and active strategy, product development and dedication — This is causing the maturation of the marketing techniques for cryptocurrency and blockchain based assets.
It has and always will come down to user base demographics, and as we raise our expectations the cryptocurrency ecosystem will have to keep up.
Fresh to the market, or a seasoned veteran, the caliber of tools and resources at our disposal will continue to grow!
Facebook Groups like Crypto Coin Trader (CCT) are doing an incredible service for crypto enthusiasts by aggregating information and weeding out the noise. Founders Joe Blackburn, Ben Barlow, Nate Flanders, and Justin Hart all make concerted efforts to keep the community informed while encouraging high-level conversations. Top-notch moderators are quick to catch new CCT members up-to-speed and answer any questions. Phrases such as “Please DYOR” and “Have you read the Whitepaper?” act as constant reminders that researching and doing your due diligence is essential to staying properly informed.
Keep in mind people, we are still in the “early adopter” phase of crypto, and the methods of marketing will continue to evolve. Meanwhile, companies like Mandala are disrupting the industry in a smart way by prioritizing compliance. Companies like Mandala are easing the point of entry for newcomers by making the onboarding and usability of their exchange easier than ever.
As it stands, crypto investors and traders don’t expect much when they open up their exchanges. The current standard that most of us expect is functionality, and that’s about it. Mandala raises that bar through many new groundbreaking features for beginners and pros alike; such as social integration, risk management tools, anti-phishing alerts, a native hardware wallet, and much more. Check out the Mandala Whitepaper here.
The promise of mass adoption can’t come fast enough for us ‘HODLers’. At the end of the day, it’s our job to spread the word. We cannot rely on any single campaign or person to take crypto to the masses. It is our job as a united community to continue engaging and teaching one another. According to the World CIA Factbook, there is currently around 80 trillion dollars in the global economy.
Cryptocurrency and blockchain are an infant industry and as market participants nurture the space, our seedling can catch up to the global economy. As I write this, Coin Market Cap shows a total market valuation of 328 Billion dollars. This means that cryptocurrencies represent less than 0.50% of the global economy.
…That’s a lot of growth opportunity — but remain vigilant and remember, if we reasonably raise our expectations, it is up to these projects to meet and exceed them!