Web 3 Influencer Marketing

Digital Marketing Services - for Web3, AR/VR, Gaming, and AI Brands

Discover the Mind-Blowing Success of Web 3 Influencer Marketing

These case studies illustrate how collaborations between Web 3 projects and crypto content creators (Influencers or KOLs) can help increase a Web 3 project’s brand recognition and community growth. Such relationships provide benefits to both parties, allowing the project to gain visibility to new audiences to promote there products and services, while the Influencer gains access to a projects important news and announcements to share with their followers.

After the introduction of an influencer into a project’s marketing and growth strategy, we have seen a remarkable increase in the community growth and participation within brand communities. For instance, before introducing an influencer there is often lower community interactions, with a smaller less engaging following on their social media platforms. However, after inviting an influencer to collaborate, we have observed a rapid surge in followers as well as increased engagement in conversations revolving around web 3 projects products and services. Through the following case studies we are able to display before-and-after screenshots of sponsored project’s actual coverage and deliverables to demonstrate what can be achieved when an influencer is incorporated into a marketing plan.

Before viewing the example case studies below, it’s important to understand some of the factors that should be taken into account that can help to improve the overall chances of success with influencer marketing campaigns.

Factors to consider with influencer marketing campaigns

  • Focus on product and service promotions

It is important that you focus on promoting your product or service and not the underlying digital asset. If you are promoting a digital asset or ICO for example this can be seen as a 3rd party promoter and the expectation of profit – this may result in your projects native token being considered a security. You should not promote your token – you should only focus on branding and promotions for your products and services.

  • Timing the market

The current stage of a market is one of the biggest factors to consider when proceeding with influencer marketing in the crypto industry. While other types of marketing may still be worthwhile in a bear market such as SEO and keyword strengthening through evergreen publications. Certain types of brand mentions and influencer marketing are best suited when the markets are showing signs of strength.

  • Size and reach of the content creator

The size of a content creators following is often a good indicator of how far spanning their reach will be. This is not always the case but is a strong metric to look at. In the cryptocurrency space it can be hard to spot the social channels that have actual legitimate traffic from those who inflate their audience with bots and fake views. Something that we have done here at UPM Agency is to keep track of 100’s of content creators in the crypto space over a period of several years. This has allowed us to monitor the followings to track irregular spikes in audience growth. We give each channel a score based on things such as ‘audience legitimacy’ to help inform our clients as to which influencers they should utilize and which ones to avoid.

  • Trust the content creator has with their community

The trust that a community of followers has with any given content creator comes from the past recommendations that a content creator has given to their community. If in the past the content creator has suggested more projects that have turned out to be flops than they have suggested that have become winners then their community will begin to lose trust. Once trust is lost with a community of followers it can take time to regain the trust.

  • How saturated the crypto influencer is with sponsors

There are some crypto influencers that take on very few sponsors each month. Some taking on only 1 or 2 partners who they are proud to say they work with. At the same time there are content creators that accept almost every sponsorship opportunity that comes across their plate. This will greatly saturate the sponsorship deals and make each new one along with existing ones worth less and less. A content creators audience only has so much attention span and interest level. If there are 15 sponsors opposed to just 1 or 2 the sponsors will get less recognition and the conversion rates will be spread out with some sponsors getting very little visibility.

  • The interest level the crypto KOL has in your project

It can be hard for a brand to gauge the interest level that a key opinion leader (KOL) has regarding their project. It may be that it is to late and the coverage has already been created and shared that you find out that the way the influencer introduced your project is in a way that they seem not appreciative of the sponsorship collaboration and really were just involved to make a quick buck. Since a content creators audience is familiar with the way content is produced and know of past sponsorships deals they will be able to dissect that this particular deal seems forced and not one that they are particularly fond of. Even if the content produced gets a lot of views it will be over shadowed by the fact they are lacking in interest.

A way to avoid this is to ensure that the content creator is asked ahead of time if the project is something that they resonate with and one that they see as being a project that they would like to back for a long term collaboration. Simple questions like this and a face to face meeting can go a long way to analyze how well a fit the collaboration may be.

Another way to measure the chemistry between a sponsor and a creator is by knowing both sides of the puzzle. This is where a 3rd party can help by getting acquainted to both sides. UPM Agency can help here by recommending a ‘shortlist’ of content creators to each brand that we feel will be a good potential sponsorship opportunity.

KPIs to consider with influencer marketing

1. Influencers Reach: Looking at a content creators past coverages that are of a similar format can be a good way to forecast the reach that will be achieved through any upcoming collaborations. Depending on the collaboration agreement this may be isolated to just one of the influencers social channels, so be sure to keep this into account. Remember that it’s not the total follower size to pay attention to, but the number of views that the coverage will get. Some influencers may have lost the interest of a large portion of their following or may have not posted in a while.

2. Influencers Engagement Rate: The number of people who interact with the coverage, such as liking, sharing, and commenting on each of the coverages posted. This can be measured as a percentage based on the number of views each coverage receives. Furthermore the average influencer engagement rate can be measured over time if you are in a longer term collaboration with a content creator. The average engagement rate is important to see if the collaboration is still working as time progresses or if it’s perhaps time to cancel further cooperation with a specific influencer due to diminishing engagements.

3. Click-Through Rate (CTR): The number of people who follow through and visit your target link or destination after viewing the coverage. This can be measured as a percentage based on the number of views that the coverage received. To help with this metric you can include tracking links to have the influencer share along with the coverage. Another way to observe this metric is to space out your coverages so that you can analyze any changes in analytics that can be credited to any specific promotion.

4. Conversion Rate: The number of followers who successfully completed a desired action for your brand—often measured in sales but can also include things such as event sign ups, downloads, or new token and NFT holders — in relation to the total exposure that a collaboration has generated over a given period of time or for each individual deliverable.

5. Audience Quality Score (AQS): A metric that reflects the overall engagement level and “quality” of an influencer’s audience; this is often calculated using demographic breakdowns such as age, gender, location, and interests associated with your intended target audience. If the community that you are attracting is not your target audience or is not comparable to your toughest competitors then the quality of the audience can be seen as weak. The goal should be to build up a following of your target audience and find networks where these people are paying attention to.

6. Retention Rate: Generally speaking, it is difficult to determine an exact retention rate from influencer marketing campaigns. Instead this can be used as a starting datapoint for retention rate by introducing forms and surveys or email captures that can help to time stamp when a conversion took place. Down the road you can measure the retention rate be measuring the engagement of these conversions in participating in future activities. If you do not keep track of your conversions and have no way of identifying when and where they came from you can use the ‘average influencer engagement rate’ to help measure the retention rate of the audience of a specific influencer.

Crypto Influencer Case Study Examples

Crypto Influencer Case Study One:

Brand ‘Hello Labs‘ collaboration with crypto Influencer ‘Altcoin Daily‘.

Hello Labs is a brand that aims to introduce web 3 and blockchain technology to the masses. Positioning themselves as a web 3 native ecosystem, Hello Labs incubates, produces, funds and distributes original entertainment programming, games and NFTs. Founded by Paul Caslin, the Grammy-nominated creative director of the MTV VMA‘s, HELLO Labs seeks to onboard the next 1 billion Web3 users by creating a seamless “Web2 meets Web3” experience.

Altcoin Daily is a tier 1 crypto influencer network that has attracted the attention of over 2 million followers from their social media accounts on YouTube and Twitter. Altcoin Daily is run by two brothers based out of Los Angelos California – Austin and Aaron. The two web 3 enthusiasts and media personalities have accumulated one of the largest followings in the web 3 industry.

The collaboration between Hello Labs and Altcoin Daily is a nice example of what can happen when a brand and an influencer are a strong mutual fit. Hello Labs is a new brand in the web 3 space with a relatively small market cap. They are at a stage in their roadmap where they are ready to build a following and attract attention to themselves. The following example shows the before and after status of the Hello native token ‘HELLO’ and the screenshot below displays the points at which the collaboration was announced and when the coverage were released. Over the 24 hours following the announcement and coverages we can see the affect that was had for the Hello Labs brand.

Chart showing timestamps of coverages posted:

Announcements and coverages related to this collaboration:

1. Feb 7 2023 – Twitter announcement of collaboration by brand

2. Feb 8 2023 – YouTube coverage by Influencer (format is dedicated interview)

3. Feb 8 2023 – Tweet sharing youtube coverage by influencer

Hello Labs and Altcoin Daily case study results

The collaboration between Hello Labs and Altcoin Daily resulted in a spike in brand awareness and increased engagement in the Hello Labs community. The market cap for the Hello Labs native token (HELLO) increased by $6,000,000 over the course of a 24 hour period around this time with the HELLO tokens price climbing from .008 USD to .02 USD (an increase of 150%). You can click into the coverages above to see the overall reach and engagement levels that accrued since the coverages were published.

If you are interested in collaborating with a web 3 content creator for your crypto project please get in touch with us to see who is a mutual fit.

Crypto Influencer Case Study Two:

Brand ‘OpenOcean‘ collaboration with crypto Influencer ‘DataDash‘.

OpenOcean is a leading decentralized exchange aggregator and cross-chain swap protocol that helps to find the best swapping routes between blockchains.

DataDash is a popular crypto influencer and content creator that is known for technical analysis of both cryptocurrencies as well as stocks. The channel is run by Nicholas Merten who has accumulated over half a million subscribers on his YouTube channel and another 100,000+ on his Twitter accounts.

The collaboration between OpenOcean and DataDash was for a series of video segments in DataDash’s YouTube videos. This collaboration took place on July 17 of 2021 and on October 22 of 2021. You can see the segments timestamped below. Segments often get more views than dedicated brand videos. This is because a content creators audience is more used to viewing the regular broadcast. There are pros and cons to segments. A pro obviously being the higher view count which gives the coverage more attention, segments are also more cost effective. Cons of a segment are that they are often less ‘evergreen’ in that the brands name may not be included in the title and the coverage thumbnail may not showcase the brand. This will not help SEO as much as a dedicated coverage which includes the brands name in the title. You can see the timestamp of when this coverage was posted in the screen below taken from Coinmarketcap.

Chart 1 showing coverage 1 timestamp:

Chart 2 showing coverage 2 timestamp:

Coverage related to this collaboration:

1. July 17 2021 – YouTube coverage by influencer (format is pre recorded segment)

2. Oct 22 2021 – YouTube coverage by Influencer (format is pre recorded segment)

OpenOcean and DataDash case study results

The collaboration between OpenOcean and DataDash helped to promote the services offered by OpenOcean. The second coverage of the collaboration helped to keep the community involvement growing and more eyes on the OpenOcean services. You can click into the coverages above to see the overall reach and engagement levels that accrued since the coverages were published.

If you are interested in collaborating with a web 3 content creator for your crypto project please get in touch with us to see who is a mutual fit.

Crypto Influencer Case Study Three:

Brand ‘Fetch.ai‘ coverage by crypto Influencer ‘AltcoinBuzz‘.

Fetch AI is an artificial intelligence (AI) lab that is focused on building a decentralized machine learning network. Fetch.ai aims to democratize access to AI technology with an open and permissionless network that anyone can connect to. A service provided by Fetch.ai is the access to secure datasets through the use of autonomous artificial intelligence that executes tasks leveraging its global network of data information.

AltcoinBuzz is a growing crypto influencer network that has grown to 400,000 subscribers on YouTube, over 130,000 followers on Twitter, and close to 20,000 subscribers on Telegram. AltcoinBuzz also showcases projects and crypto news on their growing website portal.

The coverage of Fetch AI by AltcoinBuzz is a nice example of how a brand and an influencer when timed with the right market conditions can help to bring increased attention to a web 3 brands products and services. The following example shows the before and after status of the Fetch.ai native token ‘FET’ and the screenshot below displays the points at which the coverage was aired. Over the following few days following the coverage we can see that the Fetch.ai community experienced growth.

Coverage related to this case study:

If you are interested in collaborating with a web 3 content creator for your crypto project please get in touch with us to see who is a mutual fit.

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