Effects of collapse of failed cryptocurrency exchange FTX is forcing Web3’s brand, a project previously focused on managing public perception, to focus on fighting to defend its legitimacy, said Web3 marketing expert Laura K. says Inamedinova. Beyond trying to convince her backers and investors, Inamedinova said Web3 players have a more daunting task of convincing regulators.
Security and reliability issues resurface
After a year initially focused on community management and public perception, the fallout of FTX Many of her Web3 brands and projects have switched to discussion. Of its legitimacy and reputation, says her Laura K. Inamedinova, founder of the Web3 marketing agency. She added that even if not directly related to FTX, Web3 entrepreneurs now feel compelled to address concerns about the project’s security and reliability.
In addition to an attempt to ease the anxiety of nervous investors and backers,LKI ConsultingFounder & CEO, she said Inamedinova is a Web3 player said there was a more formidable task to convince. Regulatory authority. This also applies to projects backed by traditional brands, she added.
“Even for perfectly legal businesses and projects, this has taken a toll on their reputations.
Large companies such as Starbucks and Nikehave only recently launched Metaverse projects, but FTX The collapse of . , which means it will likely require more time and resources.
FTX’s disastrous response to the bankruptcy
Meanwhile, when asked about Sam Bankman-Fried (SBF) and other roles in dealing with the crisis from a public relations perspective, , Inamedinova told her Bitcoin.com News.
From the initial crash to a series of profanity tweets and everything after that, it was a disaster from start to finish.
Regarding the SBF trial and the likely long-term impact of the court’s outcome on the cryptocurrency and blockchain industry, PR experts said, “How the actual prosecution will play out. She said that if the process is carried out properly, “the verdict will be fair.”
For traditional brands trying to get out of the crisis, Inamedinova said they needed to implement “maximum transparency in the Web3 project.” Doing this is especially important at a time when lack of oversight and regulation can result in billions of dollars in losses, she added.
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