Crypto and NFTs Are "Male Dominated Industry": Strategies for Effective Marketing

The rise ininterest in digital assets has led to a significant increase in cryptosponsorships aimed at enhancing and nurturing brand loyalty among cryptoenthusiasts. These strategic alliances boost visibility and build trust in thisever-changing sector.

The paneltitled "Beyond Traditional: Crypto Sponsorships & NFT Integration"during November's Finance Magnates London Summit (FMLS23) explored thegrowing trend of crypto sponsorships and NFT integration, offering insightsinto the dynamically evolving world of digital assets.

Moderatedby Stefania Barbaglio, the CEO of Cassiopeia Services, the panel featuredSoledad Contreras, the Director of Partnerships at CoinDesk, and Bruno Almeida,the CMO at IOVLabs.

Crypto Is a "Male Dominated" Demographic

Contrerashighlighted the rapid development in crypto marketing, emphasizing the need forinnovative approaches to leverage technology and reach potential users. Inaddition, she emphasized the importance of identifying the target audience.

"Thekey for any brand is to be able to identify the audience and where thataudience lives, which type of content they consume, which type of events theylike to go to," Contreras explained.

She pointedout that crypto tends to appeal to a "very male dominated"demographic interested in things like "Formula One, football and Americanfootball." Contreras argued that sponsoring related events can provide"great visibility" and "good recognition" for crypto brandslooking to get their names out there.

Power of Community-DriveMarketing

Herco-panelist, Almeida from IOV Labs, elaborated on various sponsorshipstrategies, differentiating between sponsoring sports teams, influencers, eventsand venues. The goal is always "brand recognition," he said, but thespecifics depend on whether a company want to tap into an existing audiencebase or associate your brand with a popular personality.

Accordingto Almeida, decentralized, community-driven marketing can also be very powerful."If you do something to upset your core community, they will challenge youback, so you have to keep engaging with them on an ongoing basis to keep themhappy," Almeida added.

NFTs Will Bring Crypto toMainstream

When the discussionturned to NFT integration, Contreras shared how CoinDesk leveraged NFTtechnology for virtual ticketing at their flagship event. Attendees could"purchase their consensus pass as an NFT" and access various perks byproving ownership on-chain. She believes mass adoption in crypto will arrivewhen mainstream brands like "Coca-Cola or, McDonald's or Pepsi" startoffering "loyalty programs that have an NFT component."

Almeidaconcurred, suggesting that NFTs can transform customer loyalty initiatives ifused creatively to provide exclusive experiences. Contreras also highlightedtheir potential to combat counterfeits and verify ownership of physical goodslike luxury watches.

Crypto Marketing Is Still Growing

Thepanelists expressed optimism about the future of marketing in the cryptoindustry while acknowledging there is still much progress to be made. As Contrerasstated: "it's a tough gig for Web3 marketers trying to deal with the new technology."She elaborated that the sector is constantly changing, and marketers mustcontend with regulatory uncertainty on top of an unfamiliar technologicallandscape.

However, the CoinDeskrepresentative believes crypto marketing has a bright future. "Ithink it's all happening and it's not going anywhere. I promise." Herco-panelist Bruno Almeida concurred, suggesting there are many creativeapplications of blockchain technology still to be explored in areas likeloyalty programs, collectibles, and more.

In summary,the panelists agreed that crypto marketing is still in its early stages butholds great promise as the technology matures. As Contreras put it, "Thebest Web 3 marketers are still training because we haven't had them before.This is such a new sector." Marketers would do well to continue educatingthemselves and experimenting with new applications of these groundbreakingtechnologies.

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Bridging TradFi and Crypto: “Compliance and Regulations Concerns for Large Institutions”

At the Finance Magnates London Summit 2023, industry leaders convened for a pivotal discussion on “Bridging TradFi and Crypto: Work in Process”, shedding light on the complexities and opportunities inherent in integrating these two distinct spheres. Moderated by Chen Arad, the COO at Solidus Labs, the panel delved deep into the challenges, regulatory concerns, and transformative potential of cryptocurrencies within traditional financial frameworks.

The panel, comprising Cassandra Cox, the Director of Institutional Sales at LMAX Digital; Gareth Hughes, the Head of Exchange at Zodia Markets; and John Salmon, the Partner and Head of Digital Assets and Blockchain Practice at Hogan Lovells International, provided nuanced insights drawing from their extensive experience in both traditional and crypto financial spheres.

Navigating the Convergence: Crypto Assets and Traditional Finance

Cox emphasized the similarities between crypto-assets and traditional asset classes, stressing the importance of providing clients with alpha-generating opportunities while navigating complexities in onboarding and custody solutions.

Cox remarked: "Crypto, akin to traditional asset classes, offers a return structure, providing alpha sources and trading opportunities to clients. The initial conversation mirrors that of other asset classes. While certain aspects of crypto may complicate onboarding and the initial journey, the industry has diligently developed tools that can be swiftly deployed."

Hughes highlighted the critical decisions surrounding custody solutions and market access, underscoring the importance of reputable service providers and understanding the nuances of crypto trading venues.

"The way individuals perceive the crypto industry is inevitably influenced by their background, not just geographically, but from a market perspective. Those with a forex background often liken it to a currency pair, while those with equities experience see it differently.” Hughes commented.

“Crypto isn't entirely distinct; there are many similarities with the FX and equities worlds, such as listed futures. Typically, people start by considering where to custody their crypto, a question you should address personally, whether you prefer owning your own wallets or hosting your infrastructure."

Salmon echoed their sentiments, emphasizing the dynamic regulatory environment as a primary challenge for institutions considering entry into the crypto space.

Salmon stated: "The constantly shifting regulatory landscape and the variations across different jurisdictions pose challenges. At large institutions, there's an appetite for digital assets broadly, although there's also apprehension. They're concerned about compliance, regulations, and legal implications."

Stablecoins: Bridging Borders amidst Credibility Concerns

The discussion then explored the realm of decentralized finance (DeFi) and its implications for traditional financial institutions and regulators. Hughes expressed the difficulty in navigating the DeFi space due to regulatory concerns, emphasizing the importance of understanding and adhering to KYC/AML regulations.

Cox highlighted the potential of DeFi as part of the technology solution for bringing tokenized assets into trading environments, while Salmon underscored the challenges in defining DeFi accurately and the importance of regulatory clarity.

Stablecoins emerged as a pivotal growth area, particularly in facilitating cross-border transfers of value. While acknowledging stablecoins' potential to revolutionize global financial operations, panelists also highlighted credibility challenges facing the cryptocurrency industry, citing instances of scandals involving major players, like FTX and Binance. Regulatory clarity was deemed essential to enhance investor confidence and mitigate risks associated with illicit activities and market manipulation.

Institutional Adoption and Regulatory Clarity in Cryptocurrencies

The discussion underscored the critical role of policymakers and regulators in establishing a conducive environment for cryptocurrency development. Concerns were raised regarding the US's regulatory approach, with skepticism expressed about the Chairman's (Gary Gensler) purported anti-crypto sentiments and the fragmented regulatory landscape.

Come and meet our teen at Finance Magnets London. We are here to help bridging the gap between Finance and #blockchain #crypto #web3 #fintech #fmls:23 pic.twitter.com/8uCySmI2b4

In contrast, European and Asian jurisdictions were praised for clearer regulatory frameworks and proactive approaches to fostering innovation while ensuring consumer protection.

Notably, the approval process for spot Bitcoin exchange-traded funds (ETFs) in the US, was discussed, with panelists predicting increased institutional adoption of cryptocurrencies in the coming year. They stressed the need for responsible governance and compliance as the industry matures and gains wider acceptance.

While regulatory challenges persist, there is optimism for progress and mainstream acceptance of cryptocurrencies. The panelists emphasized the importance of clear regulatory guidance, collaborative efforts between industry stakeholders and regulators, and the ongoing dialogue to navigate the evolving landscape effectively.

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