2023 was a big year for the blockchain industry, and by our estimations, 2024 will shape up to be no different. Here’s what you need to know about the crypto trends that we’ll be seeing this year and how your blockchain startup or company can navigate the current landscape with public relations.
Bitcoin makes a rebound
While financial markets always have their ups and downs, Bitcoin has started the new year with a bang. Recently Bitcoin climbed above $45,000 for the first time since August 2022. Bitcoin prices rising means that there is likely to be renewed interest and funding in the crypto space.
Effective public relations campaigns will be crucial to increase brand awareness and capitalize on investors, shareholders, and consumers flocking to the space. PR will also help amplify any potential funding rounds that you receive and help get the word out about the great work that your company is doing.
Fraudsters, crime and other uncertainty
It’s no secret that criminals and fraudsters dominated the headlines for the crypto industry in 2023. The collapse of FTX and penalties handed out to Binance and Coinbase also highlight the uncertainty that continues to exist in the industry.
This year, crypto is going to need to lean on PR to continue to reform its image. Any company that is hoping to be successful will have to build loyalty and trust among its investors and customers. PR can establish thought leadership and help build up your business’s reputation as a positive actor in the space. Furthermore, with uncertainty around regulation, PR is going to be key in helping communicate your product’s compliance and security features.
Web3 – the next iteration of the internet
Web3 became the buzzword of 2023 – which was only slightly overshadowed by generative artificial intelligence (AI) this year. Blockchain technology has been a part of creating these new immersive elements of the internet (ex: NFTs). 2024 will continue to see the evolution of the internet and these emerging online communities which could continue to reflect the ones that we see in the real world.
PR can help bring these online communities together by identifying target audiences and reaching them effectively through various media channels.
Sustainability in Blockchain and Web3
Sustainability has been on the top of the list of concerns for blockchain and Web3 for many years now – and has become a major concern for consumers, shareholders and investors as well. The Bitcoin network alone has been estimated to consume the same amount of energy as Finland. In 2022, the Ethereum “merge” signaled a major shift in the industry to become more energy-conscious.
A successful PR campaign can highlight your company’s commitment to ESG initiatives and position your company as a leader in sustainability.
In conclusion, there are strong signs that the crypto industry could make a rebound this year. After the crime and fraud that dominated the news in 2023 – it will be important that crypto companies establish themselves as trustworthy and authoritative in the space. Web3 and the immersive internet will continue to thrive, and sustainability will continue to be a top concern.
KCD PR is an innovative blockchain marketing and PR agency with experience and a knack for building awareness through engaging Web3 communications campaigns. Our blockchain and Web3 PR and marketing services build trust and articulate the value of their businesses to investors, shareholders and future customers.