The crypto thinker and the founder of the E District Media, Michael Nye insists that the crucial part of marketing, the ‘audience’ must be put in the spotlight. Nye is of the opinion that the applications and use cases of current blockchain and crypto projects are not exposed to the masses outside the crypto circle. This does not favor even a little bit in driving the mass adoption wheel to the destination, instead informs the crypto market from inside leaving no wind on the outside. BlockPublisher got the chance to keep on to the discourse with Nye over the very situation. He said;
There are several crypto and blockchain projects which need a giant audience but the only content these projects create is either for their own self or for the people who are already a part of the crypto revolution.
Nye’s words do ring a bell as there have been massive projects that have escalated to immense popularity but have not been successful in relating to a normal person’s life. Decent marketing over a well scouted target can trigger just the desired outcome and it could have yielded a different view about the digital assets. The right audience to target is key as this will ensure the best use of resources for the best outcome. Billions of dollars are being invested in development of killer blockchain use cases. Kevin Duffey from Next Level Finance, had wrote to BlockPublisher;
“Thousands of the world’s best engineers and programmers are working on the platform, and billions of investment dollars are fueling major companies and initiatives in the space. In other words, the progress of the platform will continue.”
Major crypto projects that have just been developed completely and are set off towards the launch, like Polymath are bound to enjoy a dominant success. It is a platform that contemplate over security tokens and brings aboard the entities that lay basis to these tokens including token investors, KYC providers, smart contract developers and legal experts. Success of Polymath largely depends over their reach and adoption that can only be achieved by marketing it to the right audience.
Michael Nye also suggests that people need to be presented whenever a new product or project is out in the market. He further elaborates that the new projects do emerge over the crypto market in full glory but the developers and the owners only create the content for themselves or for the people already aboard the crypto train. He said;
There is no project marketed outside of the crypto realm. People need to be educated.
There have been some ventures that rose to the scene only to be left behind the curtains. The Galaxy Digital, owned by Mike Novogratz (net worth: $700 million-$1 billion), is a full-fledged digital asset bank and is an excellent means for crypto trading for the new folks. But as the venture was not able to present the great platform to the correctly targeted mass, it still enjoys a limited, nominal success. Novogratz has the following words for his venture that he’s been putting too much confidence in.
A small amount of institutional assets is a lot of money.
With the recent bear market termed as the ‘crypto winter’, wiping out 80% of bitcoin’s value, Novogratz is confident that his venture will bring the light for the next bull run and ignite the trend to continue for a long term. The current status and the strength cannot certainly bring any more prosperity as we have seen with the bear market. Galaxy Digital needs the due attention and the applause in order to bring more people in.
As long as people are not served with the fact over the project that what will they be getting out of it, it cannot turn out a dominant success. The applications for the services and the platform of Galaxy Digital resembles the banking system but masses are not being educated about it.
The progress in technological development continues but Nye brings an important fact to light that audience education is key. People often tend to accept well packaged and promising product with explicit use case demonstrations and digital marketing does that. Instead of relying on the automated spread of word, a thorough advertising and marketing campaign can just strike the ‘mass adoption’ home run for the cryptos.