Cryptocurrencies

The world of cryptocurrencies, blockchain and the broader Web3 space is growing rapidly.

The world of cryptocurrencies, blockchain and the wider Web3 space is growing very quickly.

Its humble origins have evolved into a haven for fintech enthusiasts using blockchain to take on the traditional financial system. This is now an industry that regulators want to control, that celebrities support, and that some of the biggest institutions invest in.

This means that in just a decade, the story told about space to outsiders in an effort to attract them as long-term users has changed. How can we tell the story of an ecosystem that has so little history? How do you sell a constantly evolving idea?

Cointelegraph spoke exclusively with Amanda Cassatt while proving the speech in Paris. Cassatt is the founder and CEO of Serotonin, a leading Web3 marketer. She was previously CMO at Consensys and explains how she built one of the most successful marketing empires, telling Web3 stories.

Amanda Cassatt, CEO of Serotonin. Source: Serotonin

Telling stories where there are none

Cassatt’s own journey into the cryptocurrency space began in 2015 as a founder in New York who was looking for a payments solution. That’s when I came across one of the first Ethereum meetups.

“What I noticed, even though I couldn’t do due diligence on the codebase, was that this was a group of the smartest people I’ve ever met and I was even more excited to have seen someone of this number and I pointed out that this intelligence had probably been present throughout my life.

Cassatt said it took “a while” to explain the concepts behind Ethereum to him, as they were not fully or properly explained “in an accessible way” to non-technical people at the time. She added that the realization that Web3 could be an “alternative basis” for a “superior financial system” stunned her:

“Basically, instead of locking yourself into a system based on where you were born, it allows you to design lots of different systems, compete with them, and get people to join them – and it looks better.” »

That’s when she realized she needed to join what she called the circus at the time.

“I realized that a lot of people on this team didn’t have storytelling experience and didn’t know how media worked,” Cassatt explained.

Eventually, as her role at Consensys evolved, she helped create some of these interpretations.

Growth Pirate Roots

However, when telling the story of a relatively nascent space, especially in the period 2015-2017, things were very different.

Cassatt explained that words like cryptocurrencies, Bitcoin or Ethereum are not allowed on any paid platforms like Mailchimp, Google Ads or Facebook – none of the Meta Business Suite platforms essential for digital marketers.

Cointelegraph News Headline from 2018 following Facebook’s decision to ban cryptocurrency ads and ads for initial coin offerings. Source: Cointelegraph

She said there was no way to do standard Web2-style programmatic advertising that would meet the needs of the emerging industry:

“We had to move away from this calcified model of what marketing is: marketers spending a lot of money on Web2 ad platforms, because we literally weren’t able to do it. »

According to the CEO of Serotonin, there are three types of marketing: owned, earned, and paid. What they focused on in the early days of Consensys was owned and acquired.

“Basically we couldn’t do other paid things other than sponsor events and host events and things like that because the platforms didn’t allow it, which is pretty cool because it means we’re going back to our roots in Growth Hacking.”

Seeing more marketing-driven growth in the space is “a reflection of the maturity of the space,” which Cassatt sees as a positive development.

Organizers organizers

She recalled that one of the most effective approaches she used on behalf of Consensys was to create a network of meeting organizers. She described this as people wanting to add the title of “Ethereum Meetup Organizer” for a specific city to their identity.

“So we organized the organizers.”

“We made sure they had the money to buy pizza and beer, or the cultural equivalent, or that they had standard presentations and presentation templates to standardize and professionalize the way they were talking about the projects,” she said.

Cassatt said they eventually organized a roaming content channel of new decentralized applications that would cycle through all the different encounters, capturing users and getting feedback.

This meant there was always new and organic content, and it was more efficient by not having to organize each meetup group ourselves.

“It’s a great metaphor for how to create an organic community in Web3.”

“You need to make sure you have a system that people want to sign up for – an incentive framework with intrinsic and extrinsic motivation. Connect people to this system, empower them instead of having to come up with all the cool ideas yourself as a marketer, then look around in your community and see where the sparks are.

Every business is a media company

Another visionary approach to the Web3 space, which can be applied to startups more broadly, is found in the way companies look at the content they produce.

“I basically view each startup as its own niche media company around its own topic.”

Cassatt said startups should think of themselves as such and have, for example, an email newsletter in which they cover all the developments happening in a particular topic or space.

The Consensys newsletter continues to provide updates on the Ethereum ecosystem and remains an exclusive marketing offering to the company. Source: Ijma’

She highlighted her work at Consensys, where they launched several newsletters on “all things happening in Ethereum” so people could read them for editorial value and not just to promote production.

“It was a source of truth that people could access in space.”

Tips for the next generation

While one of the most challenging aspects of the Web3 space – whether you’re a marketer, developer, or user – is keeping up with the rapid changes, Cassatt offered some enduring advice:

“Try to find a product-market fit. The potential for high rewards in the cryptocurrency space has attracted many creators and potential founders, which is surprising because it represents more shots on goal to create something big.

That also means there isn’t as much startup training or as much discipline and experience in the field compared to venture-backed Web2 startups, she said.

“I will learn how to find a good product market fit for a startup, come up with an idea, test it on people you know, who are in your target audience, see if they want to use it and see what they will pay. for,” she said.

Then, after finding the first framework of agreement with these first evangelists, send it to the next circle of people, see what they think of it, and see if they will use it:

“Get the people you know in your target audience group excited about taking the next step, and then the next step. People forget it, but it’s very simple: you have to do things that are not scalable at the beginning.

review: Tyler Warner goes back and forth for 1,000 ETH against a ‘rock star collector’: NFT collector

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