Embracing memes in Web3 marketing
Everything you do is a balloon*
Welcome to the 9 new people who subscribed to my newsletter since last Thursday. I am very grateful for every single one of you. Thank you for your support!
I would say I became aware of meme culture once I joined crypto in the spring of 2017. I have seen enough DeFi and NFT projects who successfully leveraged memes to drive both user acquisition and engagement on Twitter and Discord. Whoever controls the memes, controls the narrative.
Memes are a game-changer, presenting a novel way for brands to engage audiences.
Memes are no longer just humorous illustrations but are central to forming engaged, active communities within the Web3 space. They serve as a medium to facilitate the sharing of ideas and concepts.
According to Bary Rahma from Beincrypto, the relatability and shareability of memes make them an effective tool in Web3 marketing strategies.
Web3 is changing the brand-to-consumer relationship.
In the past, a business brand developed intellectual property to produce a product. Then the business used marketing to build cultural capital and demand for the product. After that, consumers would buy the product.
Today, business owners can start from the other end of the spectrum. They’re drawing community around them first in Web3, and that community helps them build cultural capital. This route creates a feeling of belonging, an emotional tie and loyalty at the outset. Only after this emotional tie, this loyalty, is established does the brand build IP and launch products.
According to Michael Stelzner from Social Media Examiner, NFTs offer new media that can connect customers to brands beyond the product or service being offered. Businesses can focus on value, self-realization, contribution, and belonging, in a way that connects customers deeply to the brand. This new flywheel of acquisition, engagement, retention, and community contributions is key to creating long-term brand loyalty in the future.
Onboarding the next billion users with words.
The way we refer to something shapes our behavior and perception of it. If we’re always talking ‘wallets’, are we promoting finance-driven behaviors? If we want crypto to be about more than money, the language we choose should reflect that.
According to the Twitter user 0xdesigner, better framing is needed for new behaviors that crypto is unlocking. I highly recommend reading his thread to see why the word ‘wallet’ cannot encapsulate what we have or do in Web3.
*The subtitle to this newsletter is a Boards of Canada track that I like very much. It’s also winking at people saying Web3 is a sham 😉
My name is Petar Kashev and I’m a marketing professional from Bulgaria 🇧🇬 You can follow me @petar on Farcaster, @petar.bsky.social on Bluesky, or message me @petar on Telegram.