The need for crypto marketing agencies to conduct due diligence on clients to prevent potential fraud and market manipulation.
LONDON, UK, February 20, 2021 /EINPresswire.com/ — The crypto space continues to gain momentum as more brands begin to embed blockchain technology into their everyday activities and treasuries converting part of their holdings into cryptocurrencies. Amidst all the hustle and bustle there is ever-growing news and concern about fraudulent activities in the crypto space.
With the price of Bitcoin rising over $18,000 in less than 2 weeks, it’s little wonder that many have their eyes on the digital currency space and wish to cash in the very liquid asset. There is however increasing concerns over unfeasible projects, coins, tokens being introduced into the market, luring investor funds into their projects.
It’s often not discussed, but what you see on the web shouldn’t always be believed. Branding a product, token, coin, offering, or project with legitimate content is actually relatively easy in this day and age. Countless companies offering to produce glitzy websites, write your white paper for you, even companies offering to create backstories and profiles on founders of projects giving an increased chance of funding. The crypto marketing world is quickly becoming increasingly dark with vast amounts of money changing hands daily and many are cashing in on this.
Costs to promote a brand via digital PR in the crypto news space can start from $1,000 through to $25,000 depending on the depth of distribution. YouTube creators also charge anywhere between $500-$50,000 or accept part payment in tokens of coins when promoting such content. In most instances, these processes of inserting a PR into publications or pitching a marketing deal with YouTube creators are automated thus the lack of due diligence in what they are marketing or promoting in the space. Well aware most crypto users get their information from Twitter, YouTube and crypto news sites, it’s not difficult to place strategic articles and content in front of people’s eyes thus artificially boosting the price of coins, tokens or validity of a project being undertaken.
“At least once a month we’ve had a lead come in requesting crypto marketing strategy and PR services for tokens or alternative coins – some allude to being pump-and-dump schemes by investors with mass holdings. Fortunately, we do due diligence on all clients to weed out any bad actors and refuse their business. Marketing agencies have a responsibility to act more ethically when it comes to the crypto space and know what they are promoting as it can lead to mass loss of funds for potential investors as well as the reputation of the crypto space in general.” said Rob Potts CTO of cryptomarketing.digital
A crypto specific digital marketing agency launched in 2021, part of the iEfficient marketing agency brand, a London based digital advertising service in operation for over 10 years working with fintech and blue-chip clients.
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