Cryptocurrency is a significant growth asset that is estimated to be the 8th largest economy around the world. Indeed, with the cryptocurrency market capped at $2.13 trillion as of April 2022, it makes sense for investors to focus on the amount of available capital gains. Indeed, the average crypto trade volume daily reaches around $109 billion for over 10,000 cryptocurrencies in active circulation. In other words, the crypto market is huge.
But there is more to crypto assets and technologies than meets the eye. For businesses, turning the crypto-wave into profits could mean a variety of strategies. Through reliable trading tools — you can check this eToro Review to learn more about trustworthy trading platforms —, investors can educate themselves and create a source of income. Therefore, it would make sense for businesses that already have investment strategies to add crypto investments to their portfolios. Yet, is crypto investment the only way forward? The answer is no. Here are smart ideas for businesses to maximize crypto for money.
Support NFT creators
NFT, or non-fungible tokens using the same technology like cryptocurrency, have grown in popularity as a digital medium for a variety of industry sectors. From designers to the gaming industry, NFTs can become valuable assets of a business offering. However, the NFT space is still in its infancy. Therefore, it would be a fantastic opportunity for advocates to support companies growing their NFT range, such as CitrusNFT, a digital and marketing service for the NFT space.
As an NFT advisor, you can help creative businesses promote their solutions, educate their audience, and establish their brands. You can also provide strategic solutions for the go-to-market process to ensure newcomers to the crypto sector can position themselves on the market and build a customership.
Build an accessible investor pitch for startups
As mentioned, the crypto and NFT sectors are still in their infancy. Obtaining funding for innovative technologies can be challenging, especially as money-lending establishments and investors may experience fatigue as they are exposed to similar startup projects. Many businesses may not have clearly established goals when they jump on the crypto bandwagon, which can lead to investment fatigue.
For startups to convince their investors, they need to be able to present a researched, informative, accessible, and digestible business plan that differentiates them from competitors. A professional business strategy advisor can make a big difference with a topic as misused and misunderstood as crypto and NFTs.
Offer professional recruitment services
Crypto businesses are growing fast when they are successful. But they can face challenges when it comes to recruiting the right talent for the team. Indeed, not all roles will require knowledge of crypto technology. However, even traditional roles such as administrative jobs and client support, must be able to adapt to the new market.
A common mistake with crypt business recruitment is to seek only crypto experts, which can make it hard to find applicants. Instead, as an experienced recruiter, you can help the business understand the skills they need and the qualities they expect from their staff. Someone who has never worked in the crypto industry can still be a good match if they are willing to learn new techniques, responsible, and adaptable. Additionally, due to the popularity of the crypto market, candidates can rapidly pick up on trendy terms and buzzwords without necessarily understanding what they mean. As a recruiter, your task is to screen candidates effectively to ensure the business receives only the most relevant resumes.
Support IT security as an IT services provider
Blockchain technology, which is the technology used in cryptocurrency transactions, is a shared, unmodifiable, and decentralized public ledger that delivers enhanced security and trust when working with digital assets.
However, it’s important to remember that cyberattacks target weaknesses in a company’s security. These weaknesses may not be related to the blockchain technology used by the business but to other technologies in place. For instance, cybercriminals can find their way into a secured system by pretending to be someone else and requesting access or passwords per email. Or they may simply be able to read confidential data when home-based employees’ connections are unsecured. The bottom line: Crypto businesses are more likely to forget about potential IT security issues, which could have much more dramatic effects.
Design unique branded digital NFT art
Everything could become NFT assets. As more and more businesses around the world are dipping into the NFT world, such as Coca-Cola and Samsung, digital artists can expect the NFT trends to grow exponentially. As NFTs give buyers the opportunity to enjoy virtual assets or wearables, it makes sense for brands to create an NFT portfolio. However, some brands can struggle with digital art design. Besides, they may want to create unique NFT programs for their VIPs and partners, which will require professional design skills.
For digital designers, it is a unique opportunity to support brands around the world with their NFT collections.
Brand reputation management and digital paid advertising strategy services
Every trend is likely to drive a spike in advertising costs on the market. Competitors are out there, and they are working hard with their marketing agencies to outbid and outshine each other.
Some strategies are smart and ethical, while others can be intentionally damaging and questionable, such as:
- Using similar logo colors or names to create confusion
- Creating fake reviews and articles affecting a specific brands
- Launching a criticizing campaign against a brand on social media
- Copying a brand’s website to trick potential customers
As a brand reputation management company, your role for NFT businesses is crucial to protect their brand and their long-term success. In a rapidly growing sector such as crypto, some competitors are not afraid to use dirty tricks to make money.
While there is a lot of money to be made as a crypto investor or a digital NFT artist, you can also create a viable business model within the crypto market without using crypto for your own growth. From business advisor roles to brand reputation management services, companies in the NFT and crypto market require support to build a solid foundation and grow their presence safely. The good news: You don’t need to build an NFT-focused business model to profit from the crypto trends.