Shalini Nagarajan

Replicating designer merch isn’t a far-fetched idea. A bold few may indeed attempt it, proudly displaying what appears to be genuine accessories.



Web3 startup IYK, which stands for &#8220;If You Know,&#8221; emerged with the concept of ensuring the legitimacy of fashion items and other merchandise, while offering fans unique consumer interactions.



On Thursday, IYK, co-founded by Ryan Ouyang and Christopher Lee, <a href="https://mirror.xyz/iyk.eth/mw-PQ5THEea4NLjLpICEAblFVfgmTJBv7hoffvc6RIA">revealed</a> that it raised $16.8 million in seed round funding.&nbsp;



This round was spearheaded by A16z crypto and included participation from Collab Currency, Lattice Capital, 1kx, Synergis Capital, among others.



IYK — serving clients such as Adidas, 9dcc and VÉRITÉ — is founded on the idea of embedding NFC (near-field communication) chips within merchandise or apparel.&nbsp;



This technology enables consumers to effortlessly tap their smartphones on items like T-shirts to confirm their authenticity.&nbsp;



In exchange, customers receive NFTs and the possibility of exclusive offerings from brands.&nbsp;



Meanwhile, businesses gain insights into their merchandise ownership and maintain direct communication with customers.



Ouyang, one of the co-founders, shared IYK&#8217;s journey in a recent <a href="https://twitter.com/RyanOuyang_/status/1707429724606157269">X thread</a>.&nbsp;



He recounted how he crossed paths with his partner, Lee, in the summer of 2021 on Discord. Together, they ventured into the world of Web3 projects, ranging from NFT sniping bots to online scavenger hunts.



One day, Ouyang found himself frustrated while waiting in a Ticketmaster queue to purchase tickets for a John Mayer concert. Despite being a frequent concertgoer for Mayer’s shows and a top 0.01% streamer, he had to compete against ticket-snatching bots for seats.



This experience made him realize that artists lacked the tools needed to maintain a strong connection with their real-world audience and devoted fans.



The realization sparked the idea that eventually evolved into IYK. After acquiring NFC chips, they set out to create a prototype of their concept.



IYK recently partnered with Adidas for an exclusive limited shirt release tied to NFT NYC 2023. In this collaboration, they created a total of just 152 shirts.&nbsp;



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">new drip ⛓️<a href="https://twitter.com/adidas?ref_src=twsrc%5Etfw">@adidas</a> + <a href="https://twitter.com/indigo_herz?ref_src=twsrc%5Etfw">@indigo_herz</a>, powered by iyk <a href="https://t.co/sLCadJSfEb">pic.twitter.com/sLCadJSfEb</a>&mdash; IYK (@iyk_app) <a href="https://twitter.com/iyk_app/status/1646705948327567362?ref_src=twsrc%5Etfw">April 14, 2023</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



The company defines its platform as a user-friendly gateway accessible to brands, musicians, artists and creators of all kinds to help them create “digi-physical” products without requiring technical expertise.



IYK&#8217;s recent fundraising is noteworthy in light of the tough funding environment for blockchain startups prevailing today.



The company secured this round after participating in the A16z Crypto Startup School, a twelve-week accelerator program hosted by the venture capital firm, focused on supporting emerging startups within the sector.



Blockchain fundraising has been challenging due to a prolonged slowdown in funding, heightened scrutiny and concerns about the macroeconomic environment.



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A16z gets ‘digi-physical’ with $17M funding for IYK

The UK&#8217;s financial regulator is extending the deadline for some crypt oasset companies to adhere to stricter marketing regulations.



<a href="https://www.fca.org.uk/publication/policy/ps23-6.pdf">New UK regulations</a> set to kick in next month will require crypto firms to make their marketing clear, fair and prominently labeled with risk warnings. They will also prohibit incentive schemes such as &#8216;refer a friend&#8217; bonuses.



The Financial Conduct Authority (FCA) earlier <a href="https://blockworks.co/news/crypto-uk-ads">mandated</a> that crypto firms must comply with these new advertising regulations by October.



On Thursday, the regulator <a href="https://www.fca.org.uk/news/press-releases/fca-sets-expectations-ahead-incoming-crypto-marketing-rules">said</a> that companies may have until Jan. 8, 2024, to implement more technically demanding features such as a cooling-off period. Such a period might allow consumers a certain timeframe to reconsider their investment decisions without penalties.



“From this October, crypto firms must market to UK consumers clearly, fairly and honestly. And they must provide risk warnings people understand,” Lucy Castledine, director of consumer investment, said in a statement.



“As a proportionate regulator, we’re giving firms that apply a little more time to get the other reforms requiring technology and business change right. We&#8217;ll maintain our close eye on firms during this extended implementation period.”



The FCA’s regulations target the ways companies disseminate information about their crypto offerings through websites, apps, social media and online ads.&nbsp;



Companies located outside the UK, but whose ads target UK residents, will also need to adhere to these guidelines.



Castledine noted that the FCA is concerned about the lack of engagement from many foreign and unregulated crypto firms regarding the new regulations.



After the regulations take effect on Oct. 8, crypto companies will have four legal avenues for marketing to UK consumers, including obtaining regulatory approval or qualifying for exemptions.&nbsp;



The FCA classified crypto asset firms under its &#8220;high-risk investments&#8221; category only last year, citing the volatile price fluctuations of cryptoassets as a key indicator of risk.



The watchdog has previously cautioned that individuals should only invest in crypto assets if they fully grasp the associated risks and are willing to lose their investment.&nbsp;



Failure to adhere to the regulations after Oct. 8 could result in criminal charges, potentially leading to an unlimited fine or jail time.



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UK’s FCA extends deadline to execute some crypto marketing reforms

Darren Kleine

Consumers don’t often get the credit they deserve, says Aleksija Vujicic.&nbsp;



She cites the example of a survey platform created some years ago by Starbucks to gather ideas from customers. Some of the best suggestions spawned highly popular products like cake pops and caramel frappuccinos.&nbsp;



“Some little consumer made that in their home and then sent it in and <a href="https://blockworks.co/tag/starbucks">Starbucks</a> made it.”



“Do you think they&#8217;re getting any benefit from the fact that now caramel frappuccinos are sold all over the world?”



“Obviously not. But should they? Yes.”



The investment associate at Multicoin Capital spoke to Chase Chapman on the On the Other Side podcast (<a href="https://open.spotify.com/episode/09agPgx3lGtkIfqkqjLeyy?si=48aa525fccb7491f">Spotify</a> / <a href="https://podcasts.apple.com/us/podcast/76-co-creation-user-generated-products-w-aleksija-vujicic/id1570685120?i=1000617845662">Apple</a>) about the possibilities of improving relationships between consumers and companies through the implementation of <a href="https://blockworks.co/tag/web3">Web3</a> technology.



Giving customers credit doesn’t necessarily have to involve monetary compensation, she notes. “There&#8217;s so many ways to reward consumers” besides revenue share, she says.&nbsp;



“But, for goodness sake, they should get something.”



<h2 class="wp-block-heading">That’s labor</h2>



Vujicic gives another example with a Latinx haircare brand, Ceremonia, which sent products to their community for feedback before launching them to the market.



“That&#8217;s labor.”



Ceremonia rewarded those who provided feedback through free products and rewards, she admits, “but that is labor.”&nbsp;



“We are doing labor all the time for our brands, and then we are paying them for that privilege.”



Digital tokens would enable companies to attribute social recognition “through the recording of provenance and also the origination point of ideas,” she says, as well as to deliver value back to those who own the ideas.



Any goods sold on the internet could be tokenized, she says, providing provenance and compensation to originators of the products.



<h2 class="wp-block-heading">Three levels of co-creation</h2>



Co-creation under the Web3 paradigm takes place at three levels, Vujicic says: individual, cohort and community.&nbsp;



An individual creates a TikTok, for example, that is tokenized.&nbsp;



“I remix your TikTok. I added dance. Now it&#8217;s almost like I&#8217;ve added a layer to your original product, but both of those layers should exist in the next iteration of the product that&#8217;s sold.”



Revenue share and social accreditation can then be split according to the contributing entities. “We&#8217;re able to track who contributed to the idea and then who sold it and who bought it and how everything flowed through that.”



Multiple people in a small selected group could work together as a cohort to create products, she continues. “Maybe it&#8217;s a collection of clothing.”



“Twenty people come together. They do a clothing collection, maybe in partnership with the Row, for example.”



“You get to see in every piece from the Row who was involved, what they contributed to it,” she explains. “Every time one of those things are sold, they get a small piece of financial value.”



<iframe loading="lazy" frameborder="0" height="200" scrolling="no" src="https://playlist.megaphone.fm/?e=BWG1290668033" width="100%"></iframe>







The third and most decentralized form of co-creation is on a grander scale, with a community of co-creators. “In the future, we will have brands that are fully community-owned. Everything is, to a certain extent, voted upon. And then that community receives value in return.”



It’s “a spectrum of <a href="https://blockworks.co/tag/decentralization">decentralization</a>,” she says.



Vujicic argues that rewarding consumers for contributions will create happier customers that can be retained for the long term.



A dollar from a new customer, Vujicic says, isn&#8217;t as valuable as the second dollar from an already existing consumer. “Co-creation helps you get that second dollar and re-engage your community.”



People want to engage directly with brands, she says. “Give them new ways to do that, and then recognize them for doing so, and you create a higher value consumer in the end.”



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Reward consumer feedback with Web3 tech, Multicoin’s Vujicic says

Ben Strack

The UK&#8217;s top finance regulator is currently in the process of finalizing rules concerning crypto marketing. This action is being taken because it says that there is a &#8220;growing mismatch&#8221; between consumers&#8217; investment decisions and their risk tolerance.



New regulations from the Financial Conduct Authority (FCA) require those promoting crypto assets to put in place clear risk warnings, ensure advertisements are not misleading and allow for investors to back out of potential investments within a set timeframe.



A policy statement published Wednesday said the latest rules “strikes the right balance between consumer protection and promoting potentially beneficial innovation.”



The regulator finalized rules last August to ensure firms marketing “high-risk investments” include better risk warnings, but noted at the time the regulations would not apply to crypto promotions.



Now, after considering feedback from <a href="https://blockworks.co/news/uk-crypto-regulation-in-the-works">a February proposal</a>, the FCA’s rules around crypto promotion are “near final,” according to the policy statement.&nbsp;



They are expected to take effect on Oct. 8 after a four-month transition period.



&#8220;It is up to people to decide whether they buy crypto, but research shows many regret making a hasty decision,” Sheldon Mills, the FCA’s executive director of consumers and competition, said in a statement. “Our rules give people the time and the right risk warnings to make an informed choice.&nbsp;&nbsp;



To legally promote crypto assets to consumers, people and businesses must be “authorized,” registered with the FCA or communicating in compliance with an exemption. Promotions not made using approved methods are punishable by up to 2 years in prison, fines, or both.&nbsp;



The new rules also require those marketing crypto assets to UK consumers to introduce a 24-hour “cooling-off period” for first-time investors with a firm.&nbsp;



This would prohibit a company or individual to send a consumer what the FCA calls a Direct Offer Financial Promotion (DOFP) unless that consumer reconfirms their request at least 24 hours later.&nbsp;



“This is intended to ensure that extra protections kick in before consumers are in a position — as a result of the DOFP — to take the crucial step towards placing their money in the investment,” the FCA’s policy statement notes.



​​Susannah Streeter, head of money and markets at financial services company Hargreaves Lansdown, labeled the cooling-off period one of the more significant requirements.&nbsp;



In particular, she noted, it helps novice users of exchanges who might get “cold feet” when it comes to crypto investments.&nbsp;



“This may help reduce the pile-on effect with some coins surging to eye-watering levels spurred on by frantic purchases driven by the [fear of missing out] effect,” Streeter added. “The FCA is clearly worried that far too many consumers are gambling away their money, desperate to catch a ride upwards, no matter how risky the journey is.”



<h2 class="wp-block-heading">More crypto holders to protect</h2>



The new rules come as the number of crypto holders in the UK more than doubled in a one-year span, according to FCA survey findings published Wednesday.&nbsp;&nbsp;



Conducted in August 2022, the survey gathered responses from more than 2,000 people in the country. UK adults holding crypto assets numbered roughly 5 million at the time, according to FCA findings — up from 2.3 million in 2021.



The most common reason for purchasing crypto assets — as reported by 40% of respondents — remains “as a gamble,” according to the FCA findings. Roughly 30% of those surveyed said they regretted purchasing cryptoassets.



In terms of crypto promotion, 36% of adults have digested crypto-related advertisements. Eighteen percent of crypto users reported being influenced to purchase such assets because of advertising.



The FCA regulations also follow the SEC’s crackdown on crypto exchanges in the US. The securities regulator <a href="https://blockworks.co/news/binance-changpeng-zhao-face-sec-charges">brought lawsuits against crypto exchanges Binance</a> and <a href="https://blockworks.co/news/sec-sues-coinbase-allegations">Coinbase</a> on Monday and Tuesday, respectively, for allegedly operating unauthorized exchanges and other securities violations —&nbsp;



The exchanges have denied wrongdoing.&nbsp;



Binance.US said in a tweet that the SEC filing is “unjustified by the facts, by the law, or by the Commission’s own precedent.” Coinbase Chief Legal Officer Paul Grewal said Tuesday that the SEC’s enforcement-only approach in the absence of clear crypto guidelines hurts companies like Coinbase “that have a demonstrated commitment to compliance.”



“It’s clear the FCA recognizes the damage that can be done to overall investor confidence when such high-risk investments are bought by people who seem woefully unaware of the risks,” Streeter said. “However, it knows it’s also walking a tricky tightrope.”&nbsp;



She added: “It recognizes these beefed-up safeguards are needed to ensure consumers are more protected from another FTX style implosion, but at the same time it doesn’t want to quash innovation in the digital coin and blockchain space.”



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UK Regulator’s New Crypto Rules Include ‘Cooling-off Period’ for Investors

James Cirrone

Coinbase launched a nationwide advertising campaign on Sunday, commencing in Washington, DC, with a spot on CBS&#8217;s Face the Nation. A representative from Coinbase told Blockworks that the campaign aims to influence policymakers in the nation&#8217;s capital on the importance of cryptocurrency.



In the nearly two minute, black and white <a href="https://www.youtube.com/watch?v=3c2mzu0iZHg&amp;t=99s">ad</a>, Coinbase CEO Brian Armstrong argues that while crypto is in its “early days,” it will update our financial systems and “create more economic freedom in the world.”



Armstrong announced the campaign via <a href="https://twitter.com/brian_armstrong/status/1660696405525278722">Twitter</a>. He said that there will be four ads total, with the first one having aired Sunday. Coinbase will premier subsequent ads each weekend on Face the Nation, according to the representative.



There’s lots “of policy work to do to ensure America isn’t left behind,” Armstrong tweeted.&nbsp;



Armstrong highlighted two of crypto&#8217;s existing use cases in an attempt to reach a new audience with a message of practicality.



One example he mentioned was using crypto to send money to family members residing in other countries. Coinbase said in April that Americans spend over $12 billion a year in fees when sending remittances and argued that sending money via bitcoin or ethereum would be dramatically cheaper.



Armstrong also said crypto “can be a new way for artists to get paid and have a direct relationship with their fans.”



With music streaming giant Spotify only paying $0.003 and $0.005 per stream, according to a 2020 Business Insider <a href="https://www.businessinsider.com/guides/streaming/how-much-does-spotify-pay-per-stream">piece</a>, artists have been looking for ways to better monetize their craft. <a href="https://blockworks.co/news/music-nfts-use-cases">Selling music as NFTs and NFT gating</a> seem to be avenues artists and Web3 creators are beginning to go down.&nbsp;



Armstrong finished the ad by hinting at the regulatory environment in the US, which Coinbase has been fighting for years. In an April mandamus petition, <a href="https://blockworks.co/news/coinbase-sec-rulemaking-petition">Coinbase demanded the SEC provide clear guidelines</a> on which digital assets are securities. <a href="https://blockworks.co/news/sec-responds-to-coinbase-request-for-action-no">The SEC denied the action</a>, saying the agency will take as much time as it needs and that Coinbase has no right to mandamus.&nbsp;



<a href="https://blockworks.co/news/coinbase-files-mandamus-petition">Coinbase filed another writ of mandamus</a> in response to the SEC Tuesday.



“What I fear is that we&#8217;re going to be sitting here in five or 10 years, and we&#8217;re going to come back to crypto and think about it like we did with 5G or semiconductors, and say, ‘Wow, now it&#8217;s a matter of national security that we get it brought back on shore,’” Armstrong said.



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Coinbase to Air Multiple Ads on CBS’s Face the Nation, Wants to Reach Policymakers and DC Insiders

Jon Rice

The Lakeside Drive straight is the fastest section of the course at the Melbourne Formula One Grand Prix circuit, where drivers can accelerate to over 200 mph in less than a mile.



So if you’re going to read the Bitcoin white paper on the nose of the Williams cars, you’re going to have to be a serious speed reader.



Crypto exchange Kraken is a new sponsor of the Williams Racing F1 team, and to kick off the partnership the firm has pasted Satoshi Nakamoto’s seminal paper onto the nosecone of the Williams cars driven by Alex Albon and Logan Sargeant.



The Formula One series attracts 1.3 billion viewers per year, and Kraken is not the first to see the potential to reach one of the world’s largest sporting audiences. Rival exchange Crypto.com has also maintained an F1 presence with the Aston Martin team, Tezos sponsors McLaren, and Red Bull and Bybit have a sponsorship agreement. Mercedes-AMG drew the short straw and featured FTX during the 2022 season.



But Kraken Chief Marketing Officer Mayur Gupta hopes that the partnership with Williams will involve more than simply adding a logo to the car.



Gupta told Blockworks that “Featuring the bitcoin whitepaper on the Williams car is a symbol of our belief and commitment to crypto’s mission, and a celebration of how far we’ve come in the past 12 years. It’s an opportunity to showcase the original document that brought this entire movement to life.”



<h2 class="wp-block-heading">NFT art on a Formula One car?</h2>



Kraken is also looking to involve fans in their sponsorship, Gupta says, and intends to run competitions for future NFT holders to win the opportunity to feature their artwork on the rear wing of the car.



“In the coming weeks and months, we aim to showcase how NFTs can enable both creators and fans to engage in whole new ways in a sport they passionately love. This isn’t about sponsoring a sports team to acquire new clients, it’s about sharing the ethos and principles of crypto — such as financial freedom — and highlighting how critical it is to every community around the world.”



“We want this win for Kraken to be a win for the industry,” he added.



In a nod to the growing importance of overseas markets to US-domiciled exchanges, particularly at a time when regulatory authorities in the US arguably dominate news cycles more than the technology they are attempting to regulate, Mayur noted that “Like crypto, F1 transcends geographical boundaries and builds communities out of a shared passion for engineering excellence and speed. F1’s popularity has skyrocketed globally, especially after Netflix’s Drive to Survive, bringing a younger and more diverse fanbase to the sport, including from countries such as India, Spain and Mexico.”



Williams has a storied history in Formula One, with nine constructors’ championships and seven drivers’ championships over the years. The team’s roster currently features Albon, a Thai-British driver in the FW45 number 23 car, and Sargeant, an American, in the number 02 car.&nbsp;



<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1200" height="630" src="https://blockworks-co.imgix.net/wp-content/uploads/2023/03/Kraken-Bitcoin-White-Paper-on-Williams-F1.jpg?w=1024&amp;h=1024" alt="Close-up of the Williams F1 nosecone and the Bitcoin white paper pasted by Kraken" class="wp-image-50783" srcset="https://blockworks-co.imgix.net/wp-content/uploads/2023/03/Kraken-Bitcoin-White-Paper-on-Williams-F1.jpg?w=1200 1200w, https://blockworks-co.imgix.net/wp-content/uploads/2023/03/Kraken-Bitcoin-White-Paper-on-Williams-F1.jpg?w=300 300w, https://blockworks-co.imgix.net/wp-content/uploads/2023/03/Kraken-Bitcoin-White-Paper-on-Williams-F1.jpg?w=1024 1024w, https://blockworks-co.imgix.net/wp-content/uploads/2023/03/Kraken-Bitcoin-White-Paper-on-Williams-F1.jpg?w=768 768w, https://blockworks-co.imgix.net/wp-content/uploads/2023/03/Kraken-Bitcoin-White-Paper-on-Williams-F1.jpg?w=428 428w, https://blockworks-co.imgix.net/wp-content/uploads/2023/03/Kraken-Bitcoin-White-Paper-on-Williams-F1.jpg?w=470 470w, https://blockworks-co.imgix.net/wp-content/uploads/2023/03/Kraken-Bitcoin-White-Paper-on-Williams-F1.jpg?w=389 389w, https://blockworks-co.imgix.net/wp-content/uploads/2023/03/Kraken-Bitcoin-White-Paper-on-Williams-F1.jpg?w=80 80w" sizes="(max-width: 1200px) 100vw, 1200px" /><figcaption class="wp-element-caption">Close-up of the Williams F1 nosecone and the Bitcoin white paper pasted by Kraken / photo courtesy Kraken</figcaption></figure>



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Bitcoin White Paper Sets a Kraken Pace at F1 Australian Grand Prix

The anonymity of crypto wallets has historically left Web3-focused marketing executives in the dark about their audience’s age, country or purchasing history, stifling efforts to reactivate existing users and acquire new ones.



A new tool seeks to change that.



Addressable, founded last June, scans various wallet data points, such as tokens purchased, balance, and overall transaction activity levels.&nbsp;



“Generally what we’re trying to understand is what is the wallet owner interested in and what are they doing on the blockchain,” Addressable co-founder Asaf Nadler said. “And on social media, we’re trying to understand the same thing.”&nbsp;



<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="683" src="https://blockworks-co.imgix.net/wp-content/uploads/2023/02/addressable-photo-3-1024x683.jpg" alt="" class="wp-image-46854" srcset="https://blockworks-co.imgix.net/wp-content/uploads/2023/02/addressable-photo-3-1024x683.jpg?w=1024 1024w, https://blockworks-co.imgix.net/wp-content/uploads/2023/02/addressable-photo-3-1024x683.jpg?w=300 300w, https://blockworks-co.imgix.net/wp-content/uploads/2023/02/addressable-photo-3-1024x683.jpg?w=768 768w, https://blockworks-co.imgix.net/wp-content/uploads/2023/02/addressable-photo-3-1024x683.jpg?w=1536 1536w, https://blockworks-co.imgix.net/wp-content/uploads/2023/02/addressable-photo-3-1024x683.jpg?w=2048 2048w, https://blockworks-co.imgix.net/wp-content/uploads/2023/02/addressable-photo-3-1024x683.jpg?w=386 386w, https://blockworks-co.imgix.net/wp-content/uploads/2023/02/addressable-photo-3-1024x683.jpg?w=392 392w, https://blockworks-co.imgix.net/wp-content/uploads/2023/02/addressable-photo-3-1024x683.jpg?w=329 329w, https://blockworks-co.imgix.net/wp-content/uploads/2023/02/addressable-photo-3-1024x683.jpg?w=80 80w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">CTO Tomer Shlomo, CEO Tomer Sharoni, and Chief Scientist Dr. Asaf Nadler | Source: Addressable</figcaption></figure>



Addressable’s app parses through data from roughly 500 million crypto wallets, the company said, which is stored in one of its databases. Its matching algorithms seek to link those to a separate grouping of more than 100 million social media profiles. 



Read more: <a href="https://blockworks.co/news/what-is-a-crypto-wallet">The Definitive Guide on Crypto Wallets</a>



The app is currently matching 17 million crypto wallet holders to Twitter accounts — via analyzing various social media engagements — to help marketing pros in the crypto segment better understand, and reach, specific audiences.&nbsp;



“A marketer can say I want to target whoever bought tokens from me, or bought tokens from my competitors, or is playing blockchain games in the bear market,” Nadler added.


<div class="wp-block-image">
<figure class="aligncenter size-large"><img decoding="async" loading="lazy" width="1024" height="588" src="https://blockworks-co.imgix.net/wp-content/uploads/2023/02/IMG_3064-1024x588.png" alt="" class="wp-image-46851" srcset="https://blockworks-co.imgix.net/wp-content/uploads/2023/02/IMG_3064-1024x588.png?w=1024 1024w, https://blockworks-co.imgix.net/wp-content/uploads/2023/02/IMG_3064-1024x588.png?w=300 300w, https://blockworks-co.imgix.net/wp-content/uploads/2023/02/IMG_3064-1024x588.png?w=768 768w, https://blockworks-co.imgix.net/wp-content/uploads/2023/02/IMG_3064-1024x588.png?w=428 428w, https://blockworks-co.imgix.net/wp-content/uploads/2023/02/IMG_3064-1024x588.png?w=455 455w, https://blockworks-co.imgix.net/wp-content/uploads/2023/02/IMG_3064-1024x588.png?w=381 381w, https://blockworks-co.imgix.net/wp-content/uploads/2023/02/IMG_3064-1024x588.png?w=80 80w, https://blockworks-co.imgix.net/wp-content/uploads/2023/02/IMG_3064-1024x588.png?w=1080 1080w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">The Addressable app in action | Source: Addressable</figcaption></figure></div>


But the marketer will not see sensitive data, Nadler said, as the app maintains the privacy of crypto wallet holders and Twitter accounts by aggregating the data when it leaves its database.&nbsp;&nbsp;



Addressable is looking to match wallets to social media accounts on Instagram and TikTok in the future.&nbsp;



<h2 class="wp-block-heading">Targeting an audience</h2>



In a demo with Blockworks, Nadler showed what a marketer would do to target those holding a Bored Ape NFT, for example, in their crypto wallet. Such holders make up a community some view as especially valuable to reach when launching a new NFT collection, he said.&nbsp;



“They will not respond to any [direct message] you make to them directly; they get lots of DMs,” he said of Bored Ape Yacht Club (BAYC) NFT holders. “But if you get on their radar and they become followers of you, you have a better chance.”



While the BAYC collection, released in 2021, totals 10,000 NFTs, the Bored Ape Yacht Club’s Twitter page has about a million followers.&nbsp;



As Nadler navigated the app, 5,900 such wallets came up in Addressable’s database as holding a Bored Ape NFT. Those were matched to 5,100 Twitter accounts — to which a marketer could send out a promoted tweet.



By whittling down the massive follower base of the Bored Ape Yacht Club to a contingent representing less than 1% of that, Web3 marketers can avoid “shouting to the void,” Nadler said.



“How do you avoid spending the huge amount of money…and get directly to these people?” he explained. “You need the blockchain information to do that.”



Marketers also get a full view of the conversion rate from both social media and the blockchain, Addressable executives said. In addition to seeing the number of social media engagements, the app helps marketers see how many people bought its token, for example.&nbsp;



<h2 class="wp-block-heading">Users weigh in on the tool</h2>



Addressable users include DeFi protocol <a href="https://home.bancor.network/" target="_blank" rel="noreferrer noopener">Bancor</a> and Web3 games developer platform <a href="https://www.immutable.com/" target="_blank" rel="noreferrer noopener">Immutable</a>.&nbsp;



Nate Hindman, Bancor’s head of growth, said the company is getting set to launch an automated trading protocol built for custom on-chain limit orders.&nbsp;



“There is currently no way to perform oracle-free limit orders on decentralized exchanges…so we are specifically looking to attract DeFi users who might be interested in setting automated entry/exit strategies in their positions and performing automated buy low, sell high strategies on-chain,” he said.&nbsp;



Addressable has allowed Bancor to promote educational initiatives on the protocol to specific entities based on their level of on-chain trading and usage.&nbsp;



“We are able to see the users that come from Addressable-sourced audiences, and they are particularly well aligned with our target audiences,” Hindman added.&nbsp;



Russell Tan, marketing lead for <a href="https://blockworks.co/news/gods-unchained-developer-slashes-staff-despite-hiring-spree-hype">Gods Unchained</a>, a digital trading card game developed by Immutable, said he has used Addressable to target holders of other Web3 trading card games, which he called “a niche space.”



The executive added the results were “impressive” when compared to Immutable’s existing database, as the company saw a lower cost per click across the different segments it tested.&nbsp;



“Understanding the nature of on-chain activity, I believe they are able to accurately provide the right audiences, and have been able to build out specific audiences based on our requirements,” Tan said.



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Matching Crypto Wallets to Twitter Accounts: Web3 Marketing Takes Off

Cryptocurrency exchange Coinbase isn’t shying away from advertising despite cutting costs in other areas.&nbsp;



The exchange is strengthening ties with German soccer club Borussia Dortmund (BVB), local outlet Handelsblatt <a href="https://www.handelsblatt.com/finanzen/banken-versicherungen/banken/fussball-bundesligist-coinbase-macht-partnerschaft-mit-borussia-dortmund-oeffentlich/28932058.html" target="_blank" rel="noreferrer noopener">reported</a>. 



After establishing a partnership in July 2021, the club displayed ads for Coinbase on screens in its stadium and held crypto-related educational workshops for its employees.



That partnership is now leveling up as advertising will expand across marketing channels, including ads on the club’s stadium perimeter board, which will enhance virtual exposure for Coinbase at local events.



A Coinbase spokesperson previously told Blockworks the exchange intends to keep all its <a href="https://blockworks.co/news/crypto-sports-deals-slow">current sports sponsorship commitments</a>.



For now, the partnership has a time period and will reportedly last until June. The club’s managing director Carsten Cramer indicated that prudence is due to the crypto industry still being relatively new. “That&#8217;s why we want to keep our flexibility open,” he told Handelsblatt.



Borussia is the name of a local Dortmund brewery. The football club which dates back to 1909 is  <a href="https://www.boerse-frankfurt.de/equity/borussia-dortmund-gmbh-co-kgaa" target="_blank" rel="noreferrer noopener">listed</a> on the Frankfurt Stock Exchange, so it has a responsibility to shareholders to be cautious about its partnerships.



Coinbase was the <a href="https://www.coinbase.com/blog/coinbase-secures-first-crypto-licence-in-germany" target="_blank" rel="noreferrer noopener">first</a> company to gain a license for crypto custody from the German Federal Financial Supervisory Authority (BaFin) in June 2021, which was a significant reason for the club’s decision to partner with the company.



Now, some five companies hold the same permit.



Neither Coinbase nor BVB have mentioned how much BVB is getting for the sponsorship,&nbsp; though Cramer said they “didn’t receive the most tempting offer.”



The soccer world has become an attractive sector for crypto partnerships. Crypto[dot]com was a prominent brand in last year’s FIFA World Cup held in Qatar. And Coinbase already inked <a href="https://pr.nba.com/coinbase-nba-partnership/" target="_blank" rel="noreferrer noopener">sports partnerships</a> with the National Basketball Association, the Women’s National Basketball Association and other affiliates in 2021.



Still, the exchange was impacted by the crypto winter and cut more than 2,000 jobs in the last year. It also recently decided to pull out of a major crypto market, saying it would shut down <a href="https://blockworks.co/news/coinbase-follows-kraken-to-japan-exit">operations</a> in Japan.&nbsp;



Coinbase and BVB expect to decide whether to extend their partnership by April or May.



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Coinbase Seeks Brand Exposure with Germany’s Second-largest Soccer Club

<div id="highlights-block_6218d039e0ed6" class="highlights">
 <ul>
 <li>Chief compliance officer moves from Binance.US to Coinme</li>
 <li>Circle taps former leader at Meta and Google as its chief product officer</li>
 </ul>
 
</div>



FTX has hired Lauren Remington Platt as its head of global luxury partnerships as the company looks toward marketing efforts <a href="https://cms.blockworks.co/ftx-to-give-away-bitcoin-as-part-of-super-bowl-ad-campaign/" target="_blank" rel="noreferrer noopener">beyond the sport realm</a>.



The new executive founded beauty service Vensette, for which she launched partnerships with Saks Fifth Avenue, Vogue, Michael Kors and Chopard to bring hair and makeup experiences to professionals.



In her new role, Platt will target major luxury brands that have yet to integrate with cryptocurrency as a way to focus more on marketing to other consumer segments, such as women. She will be working closely with fashion model Gisele Bündchen, who leads FTX’s environmental and social Initiatives.



<figure class="wp-block-image size-full"><img decoding="async" loading="lazy" width="985" height="500" src="https://blockworks-co.imgix.net/wp-content/uploads/2022/02/2022-02-25-Lauren-Remington-Platt-FTX.jpg" alt="Lauren Remington Platt" class="wp-image-17944" srcset="https://blockworks-co.imgix.net/wp-content/uploads/2022/02/2022-02-25-Lauren-Remington-Platt-FTX.jpg?w=985 985w, https://blockworks-co.imgix.net/wp-content/uploads/2022/02/2022-02-25-Lauren-Remington-Platt-FTX.jpg?w=300 300w, https://blockworks-co.imgix.net/wp-content/uploads/2022/02/2022-02-25-Lauren-Remington-Platt-FTX.jpg?w=768 768w, https://blockworks-co.imgix.net/wp-content/uploads/2022/02/2022-02-25-Lauren-Remington-Platt-FTX.jpg?w=428 428w, https://blockworks-co.imgix.net/wp-content/uploads/2022/02/2022-02-25-Lauren-Remington-Platt-FTX.jpg?w=470 470w, https://blockworks-co.imgix.net/wp-content/uploads/2022/02/2022-02-25-Lauren-Remington-Platt-FTX.jpg?w=389 389w, https://blockworks-co.imgix.net/wp-content/uploads/2022/02/2022-02-25-Lauren-Remington-Platt-FTX.jpg?w=80 80w, https://blockworks-co.imgix.net/wp-content/uploads/2022/02/2022-02-25-Lauren-Remington-Platt-FTX.jpg?w=50 50w" sizes="(max-width: 985px) 100vw, 985px" /><figcaption>Lauren Remington Platt; Source: <a href="https://twitter.com/laurenremington" target="_blank" rel="noreferrer noopener">twitter.com/laurenremington</a></figcaption></figure>



Brian Reisbeck, former chief compliance officer at Binance.US, is set to serve in the same role for crypto cash exchange Coinme. He will focus on maintaining regulatory compliance standards during the next stage of the firm’s international expansion.



Before Binance.US, Reisbeck was the anti-money laundering compliance officer for Robinhood, helping to launch the company’s crypto trading platform.



Circle has named Nikhil Chandhok as its new chief product officer. He will focus on bringing digital currencies, such as USD Coin (USDC), to the mainstream and making it accessible to businesses globally.



Chandhok comes from Meta (formerly Facebook), where he led product development for augmented reality (AR) glasses. Before Meta, he worked at Google as its AR platform lead.



Craig Palmer is now the CEO of non-fungible token (NFT) marketplace MakersPlace. The company’s former CEO and co-founder, Dannie Chu, shifted to be executive chairman on MakersPlace’s board.



Palmer spent eight years as the CEO of fan platform Fandom and prior to that was the president and CEO of entertainment data and technology company Gracenote.



Permission.io expanded its advisory board by adding Jason Young, Kyung Kim, Sean Holzman and Son Nguyen.



Young is the president of digital marketing platform Chicory, where he advises on company growth and expansion. Kim is the senior vice president of digital activation for Horizon Media.



Holzman is head of ad platforms for video intelligence platform IRIS.TV. He previously worked as chief brand development officer and then chief digital revenue officer at Bonnier Corporation.



Nguyen brings experience of scaling startups. In 2019, he became chief technology officer of Ando, a fintech company that offers mobile banking services.



Sung Choi, a former senior quant equity researcher and portfolio manager at Mellon Investments, is now the head of investment at Gluwa. The financial platform uses blockchain technology and is focused on financial inclusion.



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Latest in Crypto Hiring: FTX To Move Beyond Sports Marketing

<div id="highlights-block_620683f5adedf" class="highlights">
 <ul>
 <li>Bitbuy spent roughly a quarter of its 2022 marketing budget on its Super Bowl ad starring Miami Heat point guard Kyle Lowry</li>
 <li>FTX will give away bitcoin as part of its ad campaign</li>
 </ul>
 
</div>



Crypto companies FTX, Bitbuy, Coinbase and Crypto.com are set to run Super Bowl ads on Sunday, marking the first time that companies in the industry will advertise during the game.



Though some advertisers paid as much as $7 million for a 30-second spot, NBC revealed last week, executives at FTX and Bitbuy said the cost is worth it for their companies.&nbsp;



“In the US, there is no other event each year where consumers actively look forward to being advertised to,” FTX marketing executive Nathaniel Whittemore told Blockworks.



<blockquote class="wp-block-quote">“Watching and picking out your favorite Super Bowl ads is a part of the tradition of the big game, and that&#8217;s a pretty unique opportunity to be a part of.”</blockquote>



More than 30 advertisers in this year’s Super Bowl — about 40% of the total group — didn’t run an ad last year, according to NBC. Most of the new advertisers fall into the automotive, technology and travel categories.



FTX <a href="https://cms.blockworks.co/ftx-to-give-away-bitcoin-as-part-of-super-bowl-ad-campaign/" target="_blank" rel="noreferrer noopener">revealed on Monday</a> that it would be giving away bitcoin as part of a contest running in conjunction with the ad. Though an FTX spokesperson declined to share details about the commercial, star power can be expected.



The crypto exchange <a href="https://www.youtube.com/watch?v=uymLJoKFlW8" target="_blank" rel="noreferrer noopener">has run ads</a> featuring seven-time Super Bowl champion Tom Brady and his wife Gisele Bündchen.



<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="FTX Crypto: Tom Brady is In. Are you?" width="1024" height="576" src="https://www.youtube.com/embed/uymLJoKFlW8?start=1&#038;feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe>
</div></figure>



The company also tapped other star athletes last year, such as <a href="https://cms.blockworks.co/ftx-names-stephen-curry-a-global-ambassador/" target="_blank" rel="noreferrer noopener">Stephen Curry</a> and <a href="https://cms.blockworks.co/ftx-inks-deal-with-mlb-star-shohei-ohtani/" target="_blank" rel="noreferrer noopener">Shohei Ohtani</a>, to be brand ambassadors.



“This game comes as something of a capstone on a year during which there has been a massive increase in consumer awareness of the crypto industry,” Whittemore explained. “Between people investing in their first cryptos or exploring NFTs, more Americans than ever are part of the digital asset ecosystem, so we thought it was a great time to bring crypto to the big game.”



The expensive Super Bowl ad buy will not prevent FTX from doing more marketing campaigns in 2022, Whittemore added.



Eric Chen, CEO and co-founder of Injective Labs, argued that the Super Bowl will be the first time that the entire crypto industry is under a major spotlight.



“While the broad crypto market is calming down after major movements in 2021, FTX is trying to increase the platform adoption through advertising,” Chen said. “We can’t predict the exact tradeoff of this investment, but we certainly know that this is very helpful for their PR coverage and global brand awareness.”



<h3 class="wp-block-heading">Canadian crypto exchange looks to reach new audience</h3>



Canada-based crypto platform Bitbuy has recently changed its marketing strategy to target more members of Gen X and baby boomers, according to Binu Koshy, Bitbuy’s marketing and communications director.



Its <a href="https://www.youtube.com/watch?v=aI3LNq_lres" target="_blank" rel="noreferrer noopener">Super Bowl ad</a>, which features Miami Heat point guard Kyle Lowry, will air in Canada. Lowry is well known in the country for playing nine years with the Toronto Raptors and winning an NBA title with the team in 2019.



<div class="wp-block-image"><figure class="aligncenter size-large"><img decoding="async" loading="lazy" width="1024" height="576" src="https://blockworks-co.imgix.net/wp-content/uploads/2022/02/My-project-4-1024x576.jpg" alt="" class="wp-image-17287" srcset="https://blockworks-co.imgix.net/wp-content/uploads/2022/02/My-project-4-1024x576.jpg?w=1024 1024w, https://blockworks-co.imgix.net/wp-content/uploads/2022/02/My-project-4-1024x576.jpg?w=300 300w, https://blockworks-co.imgix.net/wp-content/uploads/2022/02/My-project-4-1024x576.jpg?w=768 768w, https://blockworks-co.imgix.net/wp-content/uploads/2022/02/My-project-4-1024x576.jpg?w=1536 1536w, https://blockworks-co.imgix.net/wp-content/uploads/2022/02/My-project-4-1024x576.jpg?w=428 428w, https://blockworks-co.imgix.net/wp-content/uploads/2022/02/My-project-4-1024x576.jpg?w=464 464w, https://blockworks-co.imgix.net/wp-content/uploads/2022/02/My-project-4-1024x576.jpg?w=389 389w, https://blockworks-co.imgix.net/wp-content/uploads/2022/02/My-project-4-1024x576.jpg?w=80 80w, https://blockworks-co.imgix.net/wp-content/uploads/2022/02/My-project-4-1024x576.jpg?w=50 50w, https://blockworks-co.imgix.net/wp-content/uploads/2022/02/My-project-4-1024x576.jpg?w=1600 1600w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption>Kyle Lowry on the set of Bitbuy&#8217;s Super Bowl commercial | Source: Bitbuy</figcaption></figure></div>



Until about six months ago, Bitbuy primarily advertised through digital channels, where the majority of its users consume media.&nbsp;



“We reached the point where growing our customer base means attracting new consumer segments,” Koshy said. “It’s not sustainable to keep speaking to the same early adopters over and over again who have already jumped into crypto.”&nbsp;



Bitbuy applied to become a registered crypto exchange, a prerequisite to be able to run the Super Bowl commercial. It gained the distinction on Nov. 30 and signed Lowry two days later.&nbsp;



Though the ad was less expensive than the $7 million price tag in the US, Koshy said, roughly 25% of the company’s marketing budget for 2022 went to signing Lowry, as well as producing and buying the ad.



“That is a big percentage, but we feel there is no other media event in the calendar when you can reach so many people at one time,” Koshy explained.



<blockquote class="wp-block-quote">“Studies show there is a direct correlation between sports enthusiasts and crypto investors, and we are using the Super Bowl as a launching pad for our Kyle Lowry commercial to reach sports fans of all the major sports leagues.”</blockquote>



Between 60% to 70% of Bitbuy’s marketing spend this year will be on ads during live sports, he added.



<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="Kyle Lowry “Again and Again”| Bitbuy 2022 Super Bowl Commercial" width="1024" height="576" src="https://www.youtube.com/embed/aI3LNq_lres?start=1&#038;feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe>
</div></figure>



Crypto.com and Coinbase are also reportedly set to run ads during the NFL championship game. Spokespeople for both companies declined to share specifics about the commercials.



The upcoming Super Bowl ad for Crypto.com comes after a year of <a href="https://cms.blockworks.co/crypto-com-cmo-on-how-company-went-from-app-to-global-brand/" target="_blank" rel="noreferrer noopener">heavy marketing efforts</a> that included buying the naming rights to what was formerly the Staples Center in Los Angeles and creating a <a href="https://www.youtube.com/watch?v=9hBC5TVdYT8" target="_blank" rel="noreferrer noopener">television spot</a> starring actor Matt Damon.



The company also <a href="https://cms.blockworks.co/lebron-james-partners-with-crypto-com-to-help-kids-learn-about-digital-future/" target="_blank" rel="noreferrer noopener">partnered with LeBron James</a> last month, and <a href="https://twitter.com/KingJames/status/1492547824289935361" target="_blank" rel="noreferrer noopener">a video posted on Twitter Saturday</a> seems to indicate the four-time NBA champion will appear in the company&#8217;s Super Bowl ad.



Crypto exchange Coinbase went public last year and touts more than 70 million users.



<h3 class="wp-block-heading">Alternative campaigns</h3>



Binance is countering the ads running during the Super Bowl with a marketing campaign urging people to “learn crypto and trust yourself.”



The crypto exchange’s campaign, which will not include an ad during the game, features singer J Balvin, <a href="https://cms.blockworks.co/binance-hires-nba-star-to-warn-against-celebrity-ads/" target="_blank" rel="noreferrer noopener">NBA All-Star Jimmy Butler</a> and mixed martial arts fighter Valentina Shevchenko.



During the Super Bowl, Binance is encouraging viewers to visit CryptoCelebAlert.com when crypto commercials with celebrities air to claim one of 2,222 NFTs (non-fungible tokens) featuring Butler. The site will also include a crypto primer to understand basics about the technology.



“Our focus is on being user-first and empowering through education,” a Binance spokesperson told Blockworks. “We appreciate that our competitors are spending to show up in primetime and drive crypto awareness, however our counter-programming approach was developed to draw attention to the gap between awareness and adoption.”



Vancouver-based Dapper Labs also launched NFTs featuring visuals of the conference championship trophies won by the Cincinnati Bengals and Los Angeles Rams.&nbsp;



Additional NFTs with the Super Bowl and winning team logos, as well as the date and score of the game, will become available next week.



“I hope that with this newfound attention, crypto brands think deeply about how they can best educate the public about why this technology matters and how it can positively influence people&#8217;s lives,” said Keli Callaghan, Algorand’s head of marketing.



This story was edited on Feb. 13, at 10 a.m. ET. 



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Crypto Exchanges Compete to Grab Super Bowl Spotlight

<div id="highlights-block_61d36436a979b" class="highlights">
 <ul>
 <li>Partnerships with influencers like Nascar driver Landon Cassill and NFL tight end Rob Gronkowski helped build Voyager brand awareness last year</li>
 <li>The firm is looking to move more into NFTs and other parts of the metaverse in 2022, according to Voyager CMO Pam Kramer</li>
 </ul>
 
</div>



<a href="https://www.investvoyager.com" target="_blank" rel="noreferrer noopener">Voyager Digital</a> is focused on continuing to build its brand in 2022 through more video-driven content that highlights consumer voices as well as partnerships that could move beyond the sports world.&nbsp;



Crypto marketing competition has heated up as companies in the space spent the last year looking to push their brands into the mainstream.&nbsp;



“Consumer financial services has long been an important advertiser and an important player in the media marketing landscape,” Voyager Chief Marketing Officer Pam Kramer told Blockworks in an interview. “The crypto category, now as it emerges, is no exception.”



Connecting with people and influencers who can talk about their experience with crypto is a key part of Voyager’s strategy, Kramer noted. The publicly traded company partnered with Nascar driver Landon Cassill in June, as well as NFL tight end Rob Gronkowski in September.&nbsp;



Such users of Voyager’s crypto platform can spread the firm’s message especially quickly through the internet, the executive explained, noting that the firm will look to further “elevate the voices” of its users going forward.&nbsp;



“It’s less about big media buys and more about tapping into the community,” Kramer said.



Crypto.com also <a href="https://cms.blockworks.co/crypto-com-cmo-on-how-company-went-from-app-to-global-brand/" target="_blank" rel="noreferrer noopener">had a busy year</a> of marketing, capped off by a 20-year, $700 million deal for the naming rights of what was formerly the Staples Center in Los Angeles. Crypto exchange FTX partnered with a handful of high-profile athletes throughout the year, including Tom Brady, <a href="https://cms.blockworks.co/ftx-names-stephen-curry-a-global-ambassador/" target="_blank" rel="noreferrer noopener">Steph Curry</a> and <a href="https://cms.blockworks.co/ftx-inks-deal-with-mlb-star-shohei-ohtani/" target="_blank" rel="noreferrer noopener">Shohei Ohtani</a>.&nbsp;



Kramer said she expects crypto to grow from its current level of a few hundred million users to a billion users within the next four or so years. Those billion users will be using a variety of platforms, she said, noting that there is “plenty of room” for multiple players in the space.



“I think over the next 12 to 24 months, we’re going to see the brands start to differentiate and each one develop a personality and connect with different groups of consumers,” Kramer noted.&nbsp;



<h3 class="wp-block-heading">A busy year</h3>



Kramer, who knew Voyager CEO Steve Ehrlich from her time working at ETrade Financial from 1995 to 2004, joined Voyager as its chief marketing officer in March.



At ETrade, Kramer said she ran focus groups in 1995 with people who said they would be uncomfortable interacting with their money online. That changed quickly over the next decade, she noted, adding that the perceptions around crypto are also morphing.



“I realized very quickly that we were in the middle of a culture change and that crypto was going to fundamentally change the way we interact with money and the financial world,” Kramer said.&nbsp;



Focused on continuing Voyager’s growth when she entered the CMO role in 2021, Kramer noted that the firm’s funded accounts grew from 43,000 at the end of 2020 to more than 1 million a year later.



<blockquote class="wp-block-quote">“We’ve developed a mantra that is ‘crypto for all’ and developed a brand focus that is very much around humanity, around making crypto less cryptic and about making it accessible [so it] feels like they can participate in and earn the rewards of this new frontier,” Kramer said.</blockquote>



The firm <a href="https://www.prnewswire.com/news-releases/voyager-digital-extends-crypto-based-partnership-with-nascar-driver-landon-cassill-in-collaboration-with-kaulig-racing-301440789.html" target="_blank" rel="noreferrer noopener">extended its partnership with Cassill last month</a> for two more years. The racecar driver will be paid with a crypto portfolio that includes bitcoin (BTC), the voyager token (VGX), USD coin (USDC), stormX (STMX) and avalanche (AVAX).&nbsp;&nbsp;



“I am excited to not only have a shot at winning races, but to bring awareness to crypto and help educate people in a space that I&#8217;ve been personally invested in for a number of years,&#8221; Cassill said in a statement at the time of the extension.



Voyager also announced a <a href="https://cms.blockworks.co/voyager-digital-partners-with-dallas-mavericks/" target="_blank" rel="noreferrer noopener">partnership with the NBA’s Dallas Mavericks</a> in October to bolster brand awareness and drive cryptocurrency adoption through educational programs.



Most recently, Voyager announced a multi-year agreement with The National Women’s Soccer League. The firm will fund crypto accounts for each rostered player in the league and will provide them with financial education.



<a href="https://www.surveymonkey.com/curiosity/cnbc-invest-in-you-august-2021/" target="_blank" rel="noreferrer noopener">A CNBC survey</a> published last summer found that men are more than twice as likely to invest in cryptocurrencies than women.&nbsp;



“This is one piece of helping to close that gender gap,” Kramer said of the partnership.



<h3 class="wp-block-heading">More on the horizon</h3>



One of the biggest challenges of marketing in the crypto space is helping a broad audience understand what can be a realm filled with memes, complicated lingo, and misconceptions, Kramer said.



<blockquote class="wp-block-quote">“It’s not just educating; It’s almost helping to say, ‘This thing you thought about [crypto],&nbsp; it’s not real so let’s help you not only learn about it but start new associations,’” she explained. “That’s where people like Gronk and Landon and others really help.”</blockquote>



Voyager has done a lot of focused digital media and paid social media, and will continue to do so. It will create more video-driven content across those channels, Kramer said.



Ren Besnard, vice president of marketing at Unstoppable Domains, previously told Blockworks that he predicts a crypto company will have the best advertisement during Super Bowl LVI in February. 



When asked whether the firm was planning any marketing efforts around the game, slated for Feb. 13, Kramer said the firm is looking to potentially advertise around spring sports in March.



While much of big crypto marketing efforts to date have happened <a href="https://cms.blockworks.co/crypto-companies-dive-further-into-sports-sphere/" target="_blank" rel="noreferrer noopener">within the sports world</a>, Voyager is looking at partnerships in other industries as well, Kramer said.&nbsp;



“Just like I look at the profiles of our customers, we look at what else they’re interested in — what kinds of music, what kinds of entertainment and how people spend their time,” Kramer said.



Today, Voyager is a platform where users can buy and sell roughly 70 cryptocurrencies, but it&#8217;s looking to move more into NFTs and other parts of the metaverse, Kramer added.



Ehrlich said <a href="https://cms.blockworks.co/voyager-looking-to-enter-nft-space-in-2022-ceo-says/">during an October earnings call</a> that crypto market maker Alameda Research, which <a href="https://cms.blockworks.co/a16z-invests-250m-in-alchemy-alameda-backs-voyager-with-75m/">invested $75 million in Voyager</a> that month, would help it get more involved in the NFT space. He noted at the time that Voyager intends to make NFTs on multiple platforms accessible to its two million or so users and could look to build its own NFTs through its relationships with Cassill and Gronkowski.



“We want to be able to offer access to NFTs in the same way we offer access to the crypto assets today,” Kramer said, “so really making it simple and broad.”



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Voyager CMO: Crypto is ‘Changing the Way We Interact with Money’

<div id="highlights-block_61ba2c37d2d1f" class="highlights">
 <ul>
 <li>Crypto.com looks to continue marketing push after buying naming rights to the Staples Center in Los Angeles and partnering with Formula 1, UFC and Matt Damon </li>
 <li>Partnerships that bring brand to mainstream audience show “there’s an industry leader in Crypto.com who’s taking [the space] forward,” CMO Steven Kalifowitz said</li>
 </ul>
 
</div>



Anyone who types in Crypto.com on their search bar will see Matt Damon’s face appear as the webpage loads.



“Fortune Favours the Brave,” the site displays in bold font.



Steven Kalifowitz, the chief marketing officer of Crypto.com, told Blockworks in an interview that the tagline captures the mentality of the company and the industry more broadly.&nbsp;&nbsp;



The company’s <a href="https://www.youtube.com/watch?v=9hBC5TVdYT8" target="_blank" rel="noreferrer noopener">one-minute television spot</a> starring Damon, which began airing in October, aimed to recognize the people who have worked in the industry for years and invite others not yet involved in crypto to enter the space, he added.



Founded in 2016, the Singapore-based company allows users to buy and sell more than 200 cryptocurrencies. It also offers users the ability to earn rewards by depositing crypto or using its Visa card.



In addition to the Damon commercial, which is set to run for a few more months, Crypto.com bought the naming rights to the Staples Center in Los Angeles last month as part of a 20-year, $700 million deal. The venue — the official home of the NBA’s Lakers and Clippers, the NHL’s Kings and the WNBA’s Sparks — will be known as Crypto.com Arena on Dec. 25.&nbsp;&nbsp;&nbsp;



“That’s probably the strongest statement that we’re not going anywhere and that we’re here to stay,” Kalifowitz said.



<figure class="wp-block-image"><img decoding="async" src="https://lh5.googleusercontent.com/VH26tSmOtLbm0FFEotmvhtJOtE4fekv4wbKfs94WWEma1f9Qk24aIX7LFhitBpQXSiz1FMmx2JSCMqHo7LFEaKLnKwHGTc9UG80u8uPCC_7h4i5eYOVQ6_UuCV48ijAgBZ2wdlBX" alt=""/></figure>



Ty Smith, founder and CEO of <a href="https://coinbound.io" target="_blank" rel="noreferrer noopener">crypto marketing agency</a> Coinbound, said that the deal to buy the naming rights to one of the country’s most iconic arenas will help support widespread adoption, noting that Crypto.com’s company name points directly to the industry.



“I think a ton of crypto brands as well as advertising entities have been on the fence with respect to how mainstream audiences will perceive crypto ads in the public light,” Smith said.



<blockquote class="wp-block-quote">“This move tells brands and advertisers that the game is on.”&nbsp;</blockquote>



Mindy Kaling, an actress, comedian and screenwriter, was talking about the Lakers <a href="https://www.nbc.com/access/video/mindy-kaling-took-her-dad-to-a-lakers-game-and-loved-it-its-intoxicating/999109690" target="_blank" rel="noreferrer noopener">during an interview with Access Hollywood</a> last month when the discussion shifted to the team’s upcoming arena name change.&nbsp;



“It does make me think that I need to understand crypto,” Kaling said during the interview. “&#8230;If this is going to be where the Lakers now live, I have to understand what crypto is.”



Though Kalifowitz said it’s hard to measure the exact impact of the company’s major marketing efforts, he noted it signals that Crypto.com is in the center of a discussion that has gone mainstream.&nbsp;&nbsp;



“Did people go and download the app?” he said about the Access Hollywood interview. “Did people go and read more about it? Yeah, of course.”



<h3 class="wp-block-heading">Growing the crypto.com brand</h3>



The ad featuring Damon and the deal to rename the L.A. sports arena capped a year in which Crypto.com aimed to introduce the company to a global audience, Kalifowitz said.



Kalifowitz joined Crypto.com in August 2020, at which time the company had between 3 million and 5 million users, the CMO said. Crypto.com reported reaching 10 million users in February, noting at the time that it expects to reach 100 million users by 2023. A company spokesperson declined to comment on its current number of users.



The crypto industry’s number of users doubled from about 100 million to 200 million between January and June of 2021, the CMO added.



“That was a trend line that we saw coming in the middle of last year,” Kalifowitz told Blockworks. “We committed to the strategy of really getting ourselves out there, partnering with the best brands that we can and finding the best ways to not just introduce our brand to people but to raise awareness for crypto as something that’s not going away.”



Though certain prospective partners were hesitant to work with a crypto company at the beginning of the year, that changed once they learned Crypto.com was a serious company focused on regulatory compliance, Kalifowitz explained.&nbsp;&nbsp;&nbsp;



Crypto.com became the first cryptocurrency sponsor of Formula 1 in a reported $100 million deal, <a href="https://blog.crypto.com/formula-1-r-announce-crypto-com-as-global-partner-and-inaugural-partner-of-the-f1-sprint-series/" target="_blank" rel="noreferrer noopener">the company announced in June</a>. Mixed martial arts organization Ultimate Fighting Championship (UFC) announced <a href="https://blog.crypto.com/ufc-r-and-crypto-com-announce-historic-partnership/" target="_blank" rel="noreferrer noopener">its partnership with Crypto.com</a> a week later in a reported 10-year, $175 million partnership that put the firm’s branding on the athletes’ apparel and around the event venues.&nbsp;



Reaching what Kalifowitz called “Super Bowl-size” audiences through Formula 1 and UFC is even more important amid a fractured media landscape that has people watching content at different times.&nbsp;



“To be able to not just put our brand there, but put the word crypto there, gets everyone to talk about it,” he said. “Live sport is really the only thing that brings everyone together, and that water cooler effect is important.”



In addition to making deals with the NHL’s Montreal Canadiens and the Paris Saint-Germain soccer team, the company <a href="https://blog.crypto.com/76ers-crypto-com-official-jersey-partner/" target="_blank" rel="noreferrer noopener">partnered with the Philadelphia 76ers</a> in September to put a logo patch on the players’ jerseys and the Crypto.com branding on and around the team’s court. The 76ers launched its first NFT through Crypto.com as part of the deal.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">🔔 The 2021-22 <a href="https://twitter.com/sixers?ref_src=twsrc%5Etfw">@sixers</a>! 🔔<a href="https://twitter.com/hashtag/NBA75?src=hash&amp;ref_src=twsrc%5Etfw">#NBA75</a> <a href="https://twitter.com/hashtag/NBAMediaDay?src=hash&amp;ref_src=twsrc%5Etfw">#NBAMediaDay</a>&mdash; NBA (@NBA) <a href="https://twitter.com/NBA/status/1444046965075951617?ref_src=twsrc%5Etfw">October 1, 2021</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Ren Besnard, vice president of marketing at Unstoppable Domains, said he loved to see Crypto.com’s major marketing initiatives in 2021, adding that education is a huge component for new consumer technologies.



“Crypto marketers are going to step their game up,” Besnard said. “Now that Crypto.com has led the way in showing that large traditional media buys with crypto companies can help them cross into the mainstream, I expect others to follow suit.”&nbsp;



Other crypto firms also spent much of the year boosting brand awareness through large partnerships, most notably <a href="https://cms.blockworks.co/crypto-companies-dive-further-into-sports-sphere/" target="_blank" rel="noreferrer noopener">in the sports world</a>.



Cryptocurrency exchange FTX <a href="https://cms.blockworks.co/ftx-inks-135m-sponsorship-deal-for-miami-heat-arena/" target="_blank" rel="noreferrer noopener">finalized a deal</a> earlier this year for the naming rights of the Miami Heat’s arena and became the official cryptocurrency exchange brand of Major League Baseball. The company has also signed on star athletes as brand ambassadors, including Tom Brady, <a href="https://cms.blockworks.co/ftx-names-stephen-curry-a-global-ambassador/" target="_blank" rel="noreferrer noopener">Stephen Curry</a> and <a href="https://cms.blockworks.co/ftx-inks-deal-with-mlb-star-shohei-ohtani/" target="_blank" rel="noreferrer noopener">Shohei Ohtani</a>.



FTX on Tuesday <a href="https://cms.blockworks.co/ftx-us-partners-with-golden-state-warriors/" target="_blank" rel="noreferrer noopener">announced a partnership</a> with the Golden State Warriors. Voyager Digital had revealed an agreement <a href="https://cms.blockworks.co/voyager-digital-partners-with-dallas-mavericks/">with the Dallas M</a><a href="https://cms.blockworks.co/voyager-digital-partners-with-dallas-mavericks/" target="_blank" rel="noreferrer noopener">a</a><a href="https://cms.blockworks.co/voyager-digital-partners-with-dallas-mavericks/">vericks</a> in October to make cryptocurrency more accessible through educational and community programs, as well as fan engagement promotions.&nbsp;&nbsp;



Kalifowitz said he doesn’t focus on what competitors are doing.&nbsp;



“We were the first to start these big sponsorships and partnerships in the industry, and we have the largest portfolio, but I love that others in the crypto space are also raising awareness of crypto,” he said. “I think all ships will rise, and we think crypto is for everybody.”



<h3 class="wp-block-heading">Looking ahead</h3>



Crypto.com has succeeded in sparking interest, Kalifowitz said, and its future marketing efforts will look to build on that.&nbsp;



“Now that you know what this logo is, and you know that this company exists…next year is more about layering it, more about who we are as a company, telling good stories and focusing more on that education,” he explained.



Besnard noted that crypto education will continue and strengthen, noting that marketing initiatives like those executed by Crypto.com and others in 2021 will accelerate.



“As crypto and NFTs increasingly make their way into the culture and top consumer brands rush to enter the metaverse, I anticipate a growing number of collaborations between brands, digital creative agencies and crypto firms,” he said. “I predict that during the next Super Bowl, the best advertisement will come from a crypto company.”&nbsp;



Smith said he expects crypto money to start flooding into advertising channels like sports arenas and other venues, as well as television commercials.



“We are already seeing major ad spend go towards more traditional, branding-focused initiatives as well,” the Coinbound CEO said. “For a long time, the crypto marketing industry has seen these platforms as off-limits. Not anymore.”



Though Kalifowitz declined to specify what types of marketing initiatives the company would embark on going forward, he pointed to the existing deals that have allowed Crypto.com to access massive fan bases.



“You can imagine a lot of what we’ll do will spring off of that,” he said.



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