The Marketing Strategies in the Crypto World: The Rise of Celebrity Coins, Point Systems, and Public Chains

The Evolution of Celebrity Coin

The monetization of celebrity value in Web3 has been under exploration. From Time New Bank to Friend.tech, the path of SocialFi has come a long way, but in most cases, the results have not been ideal. This is mainly because users are more focused on the "volume and price" of celebrities rather than the exclusive insights they share. For top celebrities, the earnings from SocialFi platforms are too small and cumbersome, while for KOLs, showcasing influence on platforms with sparse user bases seems unwise.

The value of celebrities needs a new carrier. NFTs played this role for a while, but their fixed-price sales and lack of liquidity did not satisfy both buyers and sellers. Last year, with the rise of the Meme trend, various grassroots issued presidential coins emerged. Some behind-the-scenes operators seized the opportunity to have real celebrities issue coins in various ways. Although this model is similar to the collaboration between MCN agencies and internet celebrities, the actual operation is much more aggressive.

The concept of celebrity coins was born, but how to make them persist has become a new challenge. Trump's TRUMP coin attempts to support its value by offering "presidential time", but this method may only solve short-term problems and is unlikely to support long-term growth.

A successful meme should emphasize emotion and narrative rather than just empowerment. The true value of celebrity coins lies in the stories of the celebrities and the emotions behind them. For example, the association of Doge with Musk, SpaceX, and Tesla has created deeply resonant slogans and emotional connections. The marketing of celebrity coins still has a long way to go, and the meme-ification of personal influence should not be limited to a single tweet or a one-time boost.

The Double-Edged Sword of the Points System

The Blur project may no longer be a hot topic, but its impact is profound. Blur successfully challenged OpenSea's position through the combination of "points + zero fees, royalties + social fission." However, this success has also brought negative effects.

Blur's Airdrop3 event has raised questions about Web3 incentive activities. Its Bid For Airdrop mechanism, while increasing TVL and trading volume, has also led to false demand and price declines. This mechanism attracts more arbitrageurs than genuine buyers.

The Blend and Blast projects launched by Pacman continue a similar strategy. These projects have built a self-circulating crypto bank by locking ETH, but the returns given back to users are often unequal. The centralized points system has sparked dissatisfaction among users.

The points system has brought multiple impacts:

1. Cause false prosperity, the project party may use inflated data for financing.
2. Projects that hinder innovation and focus more on marketing than technology are more likely to gain attention.
3. It leads to fragmentation of liquidity, with valuable assets locked in various protocols.
4. Attract a large number of speculators, making it difficult for airdrop profits to cover Gas fees.

Despite these issues, the points system remains a mainstream model in Web3. Projects face a dilemma over whether to adopt this model, while users have to seek new development opportunities.

The Marketing Battle of Public Chains

Ethereum has built a vast ecosystem through its technological path and decentralization philosophy, but in the current era, marketing and practicality may be more important than technological faith. The rise of Solana is an example.

The article recently published by the Ethereum Foundation (EF) shows that it is adjusting its management structure and strategic direction. However, the real challenge Ethereum faces may lie in its leader Vitalik's attitude towards the current crypto culture. A project with a huge market capitalization led by an idealist unwilling to embrace mainstream culture may limit its development.

In contrast, Solana has adopted a more pragmatic strategy. After the collapse of FTX, Solana seized various opportunities to reshape itself. From Silly Dragon to various Memes, Dapps, and PayFi, Solana has demonstrated inclusiveness and support for the ecosystem.

The success of Solana does not rely solely on individual projects like Pump.fun, but rather on the collective efforts of the entire ecosystem. Its core philosophy is to become the preferred chain for non-technical users, emphasizing democratization, usability, and efficiency. In today's context of cryptocurrency expanding to Western mainstream users, Solana's pragmatic strategy is particularly significant.

Conclusion

The narrative of the crypto world has been oscillating between technological idealism and human greed. Whether it is the rise in token prices, the prosperity of projects, or the revival of public chains, it essentially stems from successful marketing. Currently, we need to better understand and adapt to market demands while adhering to technological ideals.