An interesting discussion on a recent UpOnly episode was sparked when one of the guests asked the question – ‘how can projects market morally in web3?’

Without this blog turning into a web3 gossip column, the question was raised following the allegations made against a crypto youtuber who had engaged in paid advertisements for a project that later rug pulled.

So how can projects morally market in web3? This is a question one must field from themselves relatively often as a marketer in the space. As an intractable part of the job, you must sell to people where there is a power dynamic that could be classified as unfair.

Everything is especially opaque in web3. There are ever increasing projects building in crowded spaces which have limited proven use-cases in the first place. The majority of momentum is built from speculation which commands huge valuations due to capital being allocated to the hot thing. The incentive structure to make a thing look like a hot thing has never been more clear.

Juicing numbers, paying off influencers, making false claims and attracting unaware retail are par for the course. And so the question is, how do you navigate this space as a marketer, trying to get a project seen and heard, but not do so in a way that could be likened to a jaded carnival attendant, calling in rubes from the street to play a rigged game.

Wow this post got cynical!

One of the markers of moral marketing in web3 seems to be – would I be happy to let my family and friends invest in this project based off the information I’m peddling. Another could be asking, would I be happy to publicly expel the virtues of this product to the world with my name attached?

There are good projects, and there are good use cases, and there are true claims to utility, value and roadmap. However these may pale in comparison to some juiced, funded behemoth (that brings in no revenue and won’t deliver on any of its marketing promises) I liken it to the Tour De France in which everyone is doping somehow. If you don’t dope, you come 28th. If you do dope, there’s a chance you might get caught out, but at least you might win.

So you have to understand the game you’re playing, and do your best to focus on the realities. Web3 participants are getting smarter to the jargon and façade, so if you are releasing a token for the liquidity – say that! Be honest with your communities. ‘Hi, we need to pay our Devs to make this project so we are trying to raise funds by creating a token.’ Not every project has to be tearing apart the space-time continuum in order to rewire reality and completely change human life via the blockchain. You could just be the newest decentralised exchange on Optimisim if you wanted.

If your target market are web3 natives, then advertise on bankless or run ads on block explorer. Don’t pay youtube influencers to shill you to win-chasing retail investors. It’s a temporary solution to a long time frame issue and it won’t end well.

We don’t work with clients who lie to their customers, but we do help market honest and passionate projects, so get in touch and let’s get you doping.