Over the past ten years, the amount of cryptocurrencies on the market has scaled enormously. Back in 2013, there were only 50 cryptos on the market. As we enter into 2023, that number circles around 20,000 unique currencies, all of which are actively vying for a spot in history.
With the sheer number of cryptocurrencies out there, there is more competition for new launches now than ever before. In order to stand out from the competition, you’re going to need to show the world that your cryptocurrency project has more merit than any of the others.
Typically, this begins with effective crypto branding. Without branding, you’re unable to carve out a space in this community for yourself. When done wrong, you’ll end up looking like all the other projects on the market, which will lead to investors clicking off your project before you’ve even begun.
To help you create a world-class crypto project, we’ve compiled this guide. We’ll explore each of the following core elements of crypto branding:
- Brand Purpose and Vision
- Brand Colors
- Communication Styles
Let’s dive right in.
Why Is Branding So Important for Cryptocurrency Businesses?
Beyond just standing out from the competition, crypto branding is one of the most important methods that a company will use to make a splash in this industry. Without effective branding, all other elements will fall flat. You could have the most important crypto project in the world, one that’s set to completely change the industry. Yet, without branding to show your brand in the best light possible, you’ll never be able to gain initial traction.
When you invest in crypto branding, you’re ensuring that your brand:
- Is memorable – The difference between a brand that gains traction and one that doesn’t is its level of memorability. Without great branding, you’ll fade into the background or will be mixed up with other projects. Either way, you’ll be signing the death warrant of your own crypto project.
- Looks trustworthy – Trust is everything in the world of blockchain. Without it, your business will struggle to build a community and will find itself without any major investors.
- Gains Followers – Specific branding is exciting and will stick in the minds of investors. Even if people don’t invest straight away, their knowledge of your brand will help convert down the line.
Branding impacts every area of a business. That’s why it’s so important to get the fundamentals down before doing anything else. You should discuss and explore these ideas as early as possible, allowing you to come up with something that disrupts the market.
Now let’s discuss the three most important parts of crypto branding.
Brand Purpose and Vision
No matter how fantastic your project is, if you’re unable to sell it to other people, you’re going to have a hard time getting anyone on your side. That’s why having a clear brand purpose and vision statement is a core part of branding. On your website, whitepaper, and all official documents, you should include this element.
Your brand purpose is going to explain why you created this company. What problem does your brand solve, and how does it do so? Following this, include a summary of your vision. What do you see your brand doing to the world over the next decade – how will you shape the field of blockchain?
Clear visions and motives make it easier for investors to establish an emotional connection with your brand. From there, you’ll be in a much better place to launch into a new market.
A shorter tip, but one that should nevertheless not be overlooked, is making sure your brand colors are communicating exactly what you’d like them to. As humans, the societies we live in have certain associations with different colors. From lived experiences and the media, we develop strong ideas of what certain colors mean.
That’s why love hearts on valentines are always red, not blue, and why yellow is closely associated with happiness. Knowing what different colors mean in the world of branding will help you craft a message that you’re happy with.
This goes hand in hand with the communication style that you pick, which we’ll discuss even further.
When designing your company, one conversation that you’re certainly going to have is about who your ideal consumer is. Depending on where you fall in the blockchain spectrum, your project could cover anything from a DEX platform to a GameFi project. With that in mind, your ideal audience members will change and shift depending on what you’re offering.
Take a second to think about who your ideal customer is. Are they young, older, professionals, or more casual? Where do they fall on this spectrum? Knowing who your main customer base is will help you craft your communication style going forward. Consider these two different blockchain companies:
- A Passive Income Investment Platform – Investors that are looking for passive income opportunities are likely going to be a little older, and will thus need a more professional and direct style of communication.
- A Web 3 GameFi Project – The audience that is interested in gaming is likely to be a little younger than the previous project. They’ll need a more casual style of communication that they can relate to.
Your communication style will impact all future marketing and branding decisions you make. Be sure to get this right.
Without your branding fundamentals in place, you’ll struggle with getting people to recognize the brilliance of your crypto company. Be sure to spend time moving through these aspects and more, creating a comprehensive final branding product that you’re excited to share with the world.
The better your crypto branding is, the easier everything else will come. If you’re a dynamic, exciting, and memorable brand, you’ll find new investors more willing to store their capital with you and become active members of your community.
Ace branding and everything else will follow suit. Best of luck!
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