Web3 and crypto PR is a must for the success of any project. It builds trust, engages communities, and cements your brand as the leader in this most competitive elite market. Understand why PR is your ticket to success.
The Web3 and crypto space is not only competitive; it’s chaotic. New tokens launch every day, DAOs are formed, and new NFT collections drop all the time. If you want to stand out in this space, you have to be heard by the right people in the right way. More than $33 billion flowed into Web3 projects in 2022 alone, a clear testament to the sector’s meteoric rise.
The trend spilled over into 2024, where Web3 investments were up 55% in the first quarter compared to the previous quarter. Venture capital investment cooled in some industries in the second half of the year but still moved well over $3.2 billion by Q2. By the end of Q3 2024, the Web3 gaming space had already raised $748 million, representing a 31% decline versus the same period in 2023.
Yet with each disruptive idea, more action, and a trust development plan engendering a strong community comes together with its base on voice. That’s the work of PR.
Let’s unpack what Web3 PR is, why it’s important, and most importantly, how it can bring a competitive advantage to your business.
What’s PR?
It’s not about throwing around buzzwords or hyping up “the next big thing.” At its core, PR is working with how your business (project) presents itself to the world.
Traditional PR focuses on media relations, brand reputation, and stakeholder communication. Web3/crypto, however, requires an altogether softer touch: it speaks to a technologically savvy audience that values transparency and is cynical about central narratives and various forms of scams. PR accordingly needs to address these different attributes by ensuring the communication is transparent but still precise and technical.
Why Does PR Matter for Your Web3 Business?
According to Pew Research, over 75% of crypto holders reported that transparency (or a lack thereof) does affect their level of trust in a project. Effective PR will share with the world the story of your vision, your technology, and the results you can deliver. It’s a great way to garner credibility with user communities and investors in your industry.
These are the reasons why PR should be at the top of the list for all serious web3/crypto projects.
- Public relations will help you build a loyal community that not only visits your site but advocates for it. For example, Polygon’s sustainable rebranding appeal resulted in a 20% jump in its adoption rate over six months.
- Strategic public relations can give you the ability to present your project legally and ethically so that you do not accidentally create reputation problems that hold you back.
- There are literally thousands of projects out there, so you can’t just put out a project and hope for the best. Media coverage, thought leader articles, and influencer support will help you multiply your impact by tenfold. Any project that is published on Decrypt or CoinTelegraph always seems to bring a step up in the trading volume of the tokens.
- It’s not the product people are buying into, but the story behind the products. PR will let you tell that story in a way that better resonates with investors, users, and the media.
How to Use PR to Your Advantage
Now that you know the “why,” let’s get to the “how.” Here’s how you can use PR to your advantage:
- Develop a Killer Narrative: Every project needs a story, and that story has to be clear, believable, and most importantly, it has to be compelling. What does the project do? What problem is being solved by this project? PR reframes those answers into your perfect target audience’s ears.
- Get in Touch with Media and Influencers: Get in touch with established crypto media and blockchain influencers, and your project is going to be seen by a multi-million audience.
- Leveraged Thought Leadership: Your team is viewed as industry leaders through guest blogging, participating in AMAs, and speaking at conferences.
- Be Consistent: PR is an ongoing activity. Continue regular press releases and community involvement to keep the momentum going.
If you’re going to be one of the leaders in Web3/crypto, you need a quality PR agency that really knows the space. EAK Digital knows how to narrate a story, create a community, and get the word out in a way that makes your project visible when it needs to be. From media relations to thought leadership, we tailor PR programs that genuinely drive results.
