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Brand Notice: Crypto is not a joke. It’s a society in itself

5 min reading

Marketers are trying to work with crypto people to blend with the technology.

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In a mysterious message over the Thanksgiving weekend, the Bored Ape Yacht Club posted a 3D image of a shadow monkey in pink sunglasses and a green suit on Twitter. Specifically, it is an Adidas tracksuit with the BAYC logo on the left chest.

Another popular collection, PunksComic, whose derivative comic book series, with partial ownership of 16 CryptoPunks and the first irreplaceable token (NFT) edition, sold for over $27,000 at the time of this writing, sharing a similar image with one of its characters. Another popular NFT collector/creator named GMoney also posted an image with his trademark silhouette wearing a hood and having a crypto wallet address printed next to the Adidas shamrock icon on the outfit. All tweets have the simple text "///" " next to them.

All of this comes after a busy past few week for Adidas and its complete switch to Web 3 with the land purchase/partnership on the Metaverse project The Sandbox and also the announcement of a collaboration with Coinbase with a simple tweet in Web 3 crypto jargon, - Probably nothing. Brands don't understand that Web 3 is about a community-driven ecosystem, not just finance. And they speak directly to the community and influential people, not their wallets.

Also read: Bored Ape Yacht club’s latest creation

When the AMC theater announced that they would be accepting cryptocurrency for ticket sales and discounts, with a special shout out to Dogecoin holders that this was the next crypto on the list, they received a lot of press and some supportive comments. However, cinema chains don't appear to be doing much to build crypto support tools, nor do they appear to be active participants in the larger crypto conversation. AMC does it for the eyeballs.

Burger King holds competitions for prizes to win one in 20 Bitcoin, one in 200 Ether, or 1 in 2 million Dogecoin, but you need a RobinHood account to receive the prize (a marketing partnership in its purest form) and it's not very decentralized. Even when Visa bought CryptoPunk 7610 in August for around $150,000, it didn't help much except blogging and turning the profile picture on the Twitter PR handle into a punk avatar for a day. With CryptoPunk levels now over $383,000, this is probably one of the few brand moves where marketing purchases are rewarded after launch.

What AMC, Visa, Burger King, and many others are missing (with a look at Arizona Iced Tea, Coca-Cola, Nissan) is that the true value of cryptocurrencies, and Web 3 in particular, is not to buy some kind of fun money. It's about the community itself. Crypto enthusiasts are always eager to introduce the ecosystem to others. Brands need to consider community participation as much as they want people to participate and interact with their brand.

Whether you have bored apes, DeFi liquidity pools, or ConstitutionDAO contributors, people want other people to "work on" projects, not only because it can increase their stock, but also because they get to spend time together. and investors with the same mindset and meet other people who are "in the club". Spend some time on the Discord channel and users talk about project details. But many people also talk about where to rest, which books to read, which cars to check, and which shows to watch. Just like anyone who has owned Cardanos Bitcoin, Ether or ADA for several years, you talk crypto when you find your people. But you speak volumes about life and how this movement is changing us as individuals and as a collective.

Also read: NFT art will never be mass market - NFT licenses can

What mass brands also don't understand is that the future creators, influencers, and entrepreneurs in this community are converging on Discord, Telegram, Twitter, and other emerging Web 3 platforms. The more brands engage with these people now, the easier it will be to get to know them and work with them on future branding initiatives. Some companies seem to approach each other in the right way.

Time Magazine is truly committed to the Web 3 initiative with an active Discord channel with over 8,000 subscribers, art with established and new artists, Twitter conversations, and even animated children's series based on the NFT artist collection. Anheuser-Busch appears to be going the same route as its Discord server which has nearly 5,500 users, and Budweiser NFT is expected to decline soon. This is the beginning, but only the beginning. These communities are full of smart, motivated, generous people and people who have authentic access to brands and need to connect now or pay exponentially later.

In 2016, when I had a creative marketing agency, I would tell a brand that I could present it to a large group of highly connected people who are rich, diverse, traveling the world and who want nothing more than to agree with each other and the brand that supports the ethos. With little more than a small financial investment and some community involvement, they will all be ready to get involved.

Well, here we are. Will brands take drastic action?

 

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