Whether it’s a shitcoin, memecoin, or even a large-scale DeFi project, we should all agree that a project’s branding plays an enormous role in the success of itself regardless if it’s on Binance Smart Chain (BSC), Ethereum (ETH), KuCoin (KCC), or any other chains. A new crypto project is essentially a start-up. Doesn’t matter what type of project it is, if they are seeking to attract new investors to buy their token, it’s basically a startup.
In the world of investing in startup companies, you would likely prefer to be provided with as much information as possible before you invest any(since startups are also relatively volatile and risky.) And based off of this, you can use this information to judge whether you are interested, and whether others will be interested as well. You don’t want to be the only one buying and holding something while everyone else thinks it’s trash.
Here’s a simple breakdown of some of the key points you should look for in a project / token branding that can affect a project’s success – therefore affecting your own investment as well.
Why a project’s branding and identity matters
Project and Token branding is as important as with any branding in existence. Good, effective branding catches eyes. It makes it easy for the community to proudly represent it. It gives you confidence as an investor.
Branding also displays the effort that the developer and team have put into the project. Establishing a brand identity isn’t just a quick doodle on Photoshop with some color brushes. It takes trial and error, peer reviews, and requires different alternatives. This shows you that they have put in the time and thought.
A project’s brand identity can also determine the opportunities that might be available to them. If it has a silly meme name, the chances of them graduating out of their chain space into a bigger exchange is low. Remember, bigger exchanges also mean bigger investors. They won’t even bat an eye towards a project that’s named BabyGayElonCash, normally will the bigger exchanges.
The impact of the Name
Both the name is the first brand identity that all investors will see. Whether it’s from shilling in a Telegram group, coming across it on Twitter, found it in a Reddit forum, doesn’t matter – The name will be the first thing you read and helps determine whether you should keep scrolling or whether you should continue reading.
From the project’s name alone you can tell a lot about what they do, and how seriously they take their project. Is it a catchy name that will be remembered by thousands of investors or will it be a spin-off of another previous project and confuse investors as to which one’s which?
There are also certain trends when it comes to names that gives you an idea about the project. Here are some current trending names especially within the BSC and ETH spaces.
Baby [Insert existing project name] – A rewards token that gives you reflections in tokens of another project
[Insert name] Swap – Intended to be a DApp or DEX
[Elon Tweet] – A token created and named after a tweet from Elon Musk with intentions of riding vitality. (Not so trendy anymore)
[Insert characteristic] Doge – Another play off of a Doge coin but with the addition of slightly different tokenomics such as reflections or rewards.
[Something]Mon – Following Binamon’s success, many NFT Collectable & gaming projects are going in the steps of Binamon by taking on the ‘Digimon’ or ‘Pokemon’ type of names.
[Something] Cake – Likely a rewards token that gives you reflections in PancakeSwap’s token, $Cake
Obviously this is just a few examples and I’m highlighting primarily memecoins and shitcoins here but this is 90% of what you will come across anyway. Legitimate, long-term projects will have unique names with strong power words or acronyms used that gives off the energy of a good project, and commands a level of respect. (With the exception of a few who seem to have broken past the perception barrier of having a meme name.)
Logo: the foundation of the project’s identity
The next thing you’ll probably look at when you join their Telegram group or check out one of their social media profiles is their logo. This is sort of parallel to the name. How seriously did they take it? How original is it? How much does it stand out?
Again, we are looking for points that can attract more investors. If it has a poorly done logo, it’ll either attract no one, or really rookie investors who are looking for a 100x so they invest in anything that comes their way.
How likely are you to recognize the following logos even if it was outside of the crypto world?
Along with the name, the logo adds some strength to the foundation of the project’s identity, and longevity. And this includes every element that’s used – the emblem, the font, and the color scheme.
So in summary, what exactly are we looking for in a project’s logo? We’re looking for originality, catchiness, evergreen-ness (won’t be out-of-date) and overall visual impact.
The vital role of a website (and design)
Back when Binance Smart Chain was released and the first batch of tokens were being launched, the news of simply having a website would skyrocket the chart. Those days are no more.
Though a majority of projects are considered to be average / basic, with the slight difference of a name and logo, websites add an extra hint of legitimacy or authenticity to the overall project’s brand. Would you even buy a project’s token if they don’t have a website yet?
Refer to the screenshot of NUTS Gaming’s website above. They can probably hide their logo and I will still figure out that I’m on NUTS Gaming’s website.
Project websites, although it falls under the Marketing umbrella, should at least have the basic information that investors would need in order to understand more before buying the token. At the very minimum, you should look for;
- About Us – tell us the detailed description about the concept of the project
- Tokenomics – explains the breakdown of different taxes, allocations, rewards, etc
- Roadmap – lists their goals and milestones both long and short term
- Whitepaper – a document that details more technical information regarding the token
- Social media links – provides direct links to all their social media accounts
Every project’s website should at least have this. If these points aren’t provided, it usually means that the developer and team does not take their project seriously enough nor do they see it lasting longer than a day or 2.
Finally, pay attention to the website’s design. It’s design should visually appeal to the site’s visitors. If it has all the above information but the design looks like its from pre dot-com bubble, then it’s useless.
We’ll discuss more about analyzing an project’s website more in another article.
Established social media presence
Social media also falls under the Marketing umbrella, but plays a big role in every brand’s growth and brand identity especially in the age of internet dominance.
Twitter, Reddit, Instagram, and even Tik Tok is becoming more and more popular with the crypto community. So if a project has not created and established their social media profiles then that should say something about how seriously they take their project.
Social media presence helps to attract new investors outside of Telegram and enables the current community to easily share posts and tweets to a wider audience.
Conclusion
In summary, a project’s branding (for you as an investor) is about judging whether this catches your eye, and the potential to catch others’ eyes. If the branding is poorly executed, even if it’s an amazing project with innovative technology, potential investors won’t make it that far to even notice it.
At some points in this article, it may seem like I’m giving advice to project owners so they can revamp their marketing game. But I’m actually breaking it down from an inside perspective so you can understand better as an investor. Part of analyzing projects is how good you can predict the market’s reception and reaction of a token.
Feel free to drop a comment below or send a message in our Telegram community at Degen Clinic.
Nice and detailed….
Welldone guys @ team dc
Thank you! I hope it helps in some way