Is branded crypto the future?
Crypto has been on the tip of everyone’s tongue for a few years now, and the evolution of digital currency has been front and centre for all to see. The whole world is talking about crypto, unless you steer clear from lack of knowledge. Or maybe you found the greatest hide-n-seek spot in history, and you’ve only just come out to hear about crypto for the first time.
The logical path for crypto is to follow in tech giant Apple’s footsteps and to turn a commodity into a brand that resonates with people. Apple did this by pulling away all the jargon and technical information that had kept some people away for so long and replacing it. “With what?” Well, just sleek design and a slice of desirability. It sounds like an old fashioned branding package, right? Well, essentially, it was, and it’s that approach that has forged the path for Apple to become the company they are today.
Apple was able to take over the technology market with the proper branding and approach. They highlighted the commodities that the world showed us how they had made it look and function better. Resonating with the everyday person. This was where crypto fell down. Unless you were in the know, the premise of cryptocurrency was a bit too far fetched, and the design interfaces were clunky and confusing.
Simply put, they were off-putting
What they have as a product was a modern take on one something that has been around for centuries, money. If the currency doesn’t deserve its seat at the table, what does? After all, as far as building connections with potential customers, money talks.
In this blog, we are explaining the branded crypto movements and why currency with a brand strategy might just be the future.
So, let’s start stacking that digital dollar.
Why would a brand buy into Crypto?
Firstly, let’s discuss the premise of crypto and some of the reasons why a brand may look to make a move into the digital world. Beyond the obvious appeal of all things online feeling futuristic, and we often view anything new and progressive as beneficial, there are lots of deeper things at play in the crypto space.
For example, a decentralised currency means that the power is no longer in the hands of the governments. As these powers mass-produce more money, the old money becomes less valuable; this is more commonly explained as inflation. So whether your country deals in Pounds, Dollars, Pesos, Won, etc. The amount you have in your wallet is always being dictated by something bigger and more powerful than yourself.
The beauty of money is that people never question its worth. Instead, they accept the value they are given and continue in the pursuit of more. As a mass control tool, money is pretty cool, right? We all aim to reach the point where we think we have enough for, let’s say, a house, or a car, new clothes, retirement. However, most of the time, it can never quite feel like enough.
So here’s where an opportunity arises for a brand. Not only will they have access to one of the most popular commodities in the world, but they will also be able to run their branding across multiple countries. This would significantly increase reach and brand recognition and offer a platform like no other for a business. There would be no national colour schemes, artworks or insignia; it would be a free shot at branding something universally useful and what’s not to love about that opportunity.
Designing better money!
So, as we have always known it, money has been designed to perform in a particular way. When we say design, we don’t just mean the refined look and feel of the cryptocurrency; we also mean the business processes behind it.
As the archaic design of money comes under increasing scrutiny, it offers a brand the opportunity to do something different and something fairer.
For example, we have no idea when or where a government will produce more money, lessening the value of what we already have. But we do know exactly how much bitcoin there is and how much there will be. The inflation rate of cryptos is known and therefore remains objective across the world.
Redesigning distribution is another way that a brand could seize the opportunity of being involved in crypto. Currently, governments give newly printed money to banks to be loaned out to businesses and create more jobs; this is known as trickle-down economics. However, with a mass percentage of the population falling beneath the level deemed suitable for a loan, the reality is it doesn’t really make it to us.
However, this process in the world of cryptocurrency is far more beneficial to the masses. For example, Bitcoin gives new coins to those who keep the network running, known as miners; you’ve probably heard the term. Other cryptocurrencies distribute new currency throughout their network, meaning users can benefit simply from being users regardless of stature, size or presence.
A currency that is distributed in a much more reasonable way could be an enticing factor for a huge brand to jump on board.
Branding at Create8
At Create8, we specialise in all things brand; with clients in several sectors, we have the experience to help your business achieve all of its goals. Helping build brands from the ground up or offering our expertise on a brand refresh are two of the most integral processes at our HQ.
Enter the branded Crypto
The initial branding movement in the cryptocurrency sector has been in an attempt to provide currencies specific to certain operational industries. For example, BitTorrent, a coin that is specialised so that content creators can file share their work with other users.
Currently, the branding efforts of cryptocurrencies have primarily been a case of what features make our coin the best and so on. There haven’t been many Apple-style approaches where the product is brought to the mass market with a great piece of branding. More seem to be selling to those already invested or trying to lure investors from other coins.
Reaching out a hand to those outside the crypto loop and giving them a gentle pull in, could be the difference-maker.
The truth is there is something much bigger at play here, and it could easily be attainable for a company big enough.
So, let’s think about businesses who have made their metaverse intentions known, and straight away, we’re looking at Meta (formally known as Facebook). Mark Zuckerberg has made the intentions of the business so well-known that he changed the whole company name to fall in line and as a result, pushed the digital move along a little.
Suppose we think about the strategic position of Meta as a business and the size of its operation. Would a Facebook-branded coin be out of the question? There’s something unbelievably attainable in the cryptocurrency sector right now. The possible combination of an already established brand and a product that offers benefits to everyday people wouldn’t just create waves; it would be a whole tsunami.
The dual-brand connection between product (money) and business (Meta) would drive more people to form an immediate relationship with the premise of crypto based on their feelings towards the brand. Strategically it may not be a position that Meta sees itself moving into, but for those of us trying to understand the branded crypto movement, it certainly makes sense.
The brand’s operating in this space have seen the possibilities first hand, and essentially, it’s all about making the most significant difference. No longer is money about the nation scribbled on the front or the value those in power attribute to every coin or note. It’s about brands forcing us to rethink, offering something beneficial with foresight, and making genuine change for us all.
At Create8, we draw no boundaries in the sectors we work within. Our open-minded approach to innovation is what makes us stand out from the competition. With clients ranging from the traditional to the digital, from the futuristic to the era-defining, we’ve pretty much seen it all.
Our work within the cryptocurrency sector has allowed us to understand the scope of growth available. There are untapped opportunities in design, branding, and marketing in almost every industry, and we want to help you reap the benefits. By joining up with us, you can leverage our team of creatives and elevate your business.
So, what do you have to do? Well, follow the link below. Feel free to scroll around our website and check out some of our most recent projects. If you find something that you think will inspire your branding efforts, give us a call. Or, of course, you can send a message through the website, and we will get back to you as soon as possible.
We can’t wait to hear from you.
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