Web3 brand-building essentials

02.10.2023

Max Fedchak

8 min

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Brand is so much more than just a logo; it's the very first impression that sticks with people. It's your identity, your voice, and your reputation. Yet, not everyone, be it consumers or founders, really gets the difference between a brand and a product. They miss the point that, without a brand, a product is basically just a run-of-the-mill item.

Around 20-40% of people avoid products without a brand. Why? Well, it's because there are lots of similar options, and most folks tend to trust the first ad they come across without thinking twice.

In the world of Web3 startups, there's a crowd. But here's the deal: lots of these projects make a big entrance, but they vanish into the background because they lack a strong brand. So, if you're serious about making something valuable, you gotta give it a solid brand.

And here's the scoop: some projects, especially in the web3 gang, aren't fans of advertising. But here's the thing – creating a brand without advertising is like trying to talk to your customers in a completely silent room. It just doesn't work. And when we mention advertising, we are not referring to typical PPC or targeted advertising on platforms like Google and Facebook. Instead, we are discussing incentive campaigns, AMA sessions, partnerships with other brands, engaging Twitter threads, and numerous other imaginative solutions. So, don't ignore the power of advertising; it's how your product connects with your audience.

Alright, let's dive into it. We've looked at a bunch of projects, and we've sorted them into four different types. Now, let's break it down.

Now, let's break down the journey of building a brand into five stages:

Let's take a look at what exactly helps projects build their brand:

These projects are like the sprinter who's always on the lookout for quick cash. They lack a clear vision, values, or a roadmap. Their main goal is to be in the spotlight and make a fast buck. They're constantly chasing returns, with no solid foundation or value proposition for their customers. In the world of Web3, you can find many products and projects fitting this description, all after short-term gains.

Here's where about 80% of folks starting out find themselves. They all want to be like everyone else, thinking that more advertising will rake in the cash. But projects that don't aim to stand out quickly fade into obscurity.

Companies in this stage are still trying to figure out their audience's needs. They can't quite connect with their target market and often resort to basic, overly promotional advertising. They struggle to answer the simple question: why should people choose them?

These guys are a step up from the Athlete. They're more focused on their own gains and recognition. They're like the climbers on the corporate ladder, aiming to secure benefits and forge connections with other brands. They often find success by emulating their own or someone else's successful strategies.

Here, we have companies that have identity. They're asking questions like, "What can we provide to our users? What value do we bring?" They start forming their own unique ideas and values and begin to create a lasting impact. These are the entrepreneurs that consider their legacy and what they'll leave behind.

This is the top level of brand success. Icons are like the big bosses in their industries. People really love them, trust them, and stick with them. There's not much competition left because their customers are super loyal, and they're basically legends in the eyes of their fans.

This is where things start to get interesting. Brands at this stage begin to develop their unique character, values, and identity. They're building a connection with their customers. The big challenge here is fear. Most companies stick to the same old strategies because they're afraid of change, criticism, or feeling like they're not ready for something new. But breaking away from the pack is the key to reaching the highest levels of brand development.

In theory, this should be the last step towards becoming a successful brand. Here, companies have found their unique personality and do things their own way. Customers feel a real connection with the brand and love how they express themselves. Their brand story becomes an integral part of the experience.

But there is the grand finale of branding. These are the brands that become icons, recognized worldwide. They're woven into the fabric of people's lives, associated with their happiest moments. We're talking about heavyweights like Bitcoin, Nike, McDonald's, Coca-Cola, and more.

So, what's the secret to reaching this pinnacle? It's all about finding your own myth – a philosophy that people believe in, often without even realizing it. These brands go beyond just being products; they become a part of culture. The key is to broadcast that myth. Think about it: Nike tells us to "just do it," Jobs told us "we're different and we're changing the world," Bitcoin rebels against banks and centralization, and says "let's create our own economy." That's how they change the world.

Your UVP is like the heart and soul of your brand. It's the statement that sums up what makes your project special. Keep it short, clear, and memorable, and make sure it shines through in everything you do.

Your brand story is like your project's life story. It's where you talk about how you got started, the hurdles you've tackled, and what keeps you going. A great brand story makes your brand more relatable and tugs at people's heartstrings.

Your brand voice is all about the way you talk to your audience. It's like your brand's personality.

Your brand design is what your project looks like - logos, colors, fonts, and all that jazz. Keep it consistent and in line with your UVP, brand story, and brand voice. It's like the visual face of your project.

When looking for Web3 brand with great design, Lybra Finance is a good place to look. Lybra Finance is a decentralized finance protocol focusing on stabilizing the DeFi industry through its over-collateralized, interest-bearing stablecoin, eUSD..

One example of a Web3 project with a strong UVP is AAVE. They let you borrow and lend crypto, all while making interest. Their secret sauce? "Earn interest on your crypto without selling it." They've got this catchy message all over their brand, from their website to their social media, making them a real standout in the DeFi jungle.

One Web3 project with a great brand story is Chainlink.

Chainlink is a decentralized oracle network that connects smart contracts to real-world data. Their brand story is centered around their mission to create a more connected and trustworthy world, powered by smart contracts.

Uniswap can be used as a solid example of a Web3 brand with a great brand voice.

Uniswap is a decentralized exchange. Their brand voice is playful, irreverent, and often humorous, which appeals to their tech-savvy audience.

Your brand community is the awesome group of folks who are all in on your vision. They're your supporters, and they help build trust and loyalty. It's like the crew that's got your back.

One Web3 project with a strong brand community is Yearn Finance.

Yearn Finance's got a tight-knit community on their Discord server. People share strategies and support each other, all in line with Yearn's mission. That community vibe has really helped them grow and succeed.

These are the cool collaborations you do to expand your reach and street cred.

One Web3 project with successful brand partnerships is Crypto.com. Crypto.com is a platform that provides users with access to a range of crypto-related services, including trading, staking, and debit cards.

They have partnered with high-profile companies and organizations such as Aston Martin, UFC, and Formula 1, which has helped them gain credibility and exposure in the mainstream media.

People don't really care about what brands say about themselves. What matters to them is what these brands bring to the table, the values they stand for. Brands are all about helping folks show their true colors and become a meaningful part of their customers' lives.

So, if you're all in for becoming an iconic brand, let's book a call: