Riding The Wave: The Challenge Of Marketing In The Evolving Web3 Space

Forbes

16-04-2025

Nikita Sachdev, the founder & CEO of the award-winning Luna PR transforming communications in the Web3 and emerging tech landscapes.
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One of the complex but invigorating aspects of working in the Web3 space is that, to be successful, one must be ready to pivot on a dime. The landscape is constantly shifting, and the changes come so quickly that marketing tactics may struggle to adapt alongside it.
When I started my agency in 2017, Web3 wasn't even a term. People mostly associated digital currency with hacks and scams, and blockchain was still a foreign concept.
The digital currency community at the time largely stemmed from gaming communities. As the space evolved and digital currencies became more mainstream, the platforms for advertising and engaging with communities naturally followed suit. Eight years ago, we were connecting with audiences on 4chan, Discord and Reddit. Today, Web3 marketing is on TikTok, Instagram and other mainstream social media. This shows how much the space has gained ground, even on household-name platforms, in a relatively short amount of time.
It's hard to say when exactly Web3 started being known by that name; I first recall hearing the term around 2020. That's also when NFTs gained traction, the metaverse became a bigger conversation and gaming projects began integrating digital currency—what we now call GameFi.
Beyond its technical aspects, the industry as a whole kept expanding: Big brands like Nike jumped in, using NFTs for digital sneakers. When established companies began incorporating blockchain into their business models, that's when Web3 really took off. That was the second big transition—moving from niche forums to mainstream brands and celebrity endorsements.
At this point, the industry was very hype-driven (big-name celebrities began very publicly investing in projects), and consequently, we entered a third phase: People started (very reasonably) questioning the legitimacy of some of these ventures.
During that hype cycle, where celebrities were suddenly hawking digital assets, success was often based purely on speculation. Many projects lacked real fundamentals, but as long as prices were rising, no one seemed to care.
One problem we saw very often: Blockchain wasn't always being used to its full potential. Many companies would brand themselves as "blockchain-powered" just to capitalize on that current hype—kind of like what we're seeing now with AI. A company might add an AI chatbot and suddenly market itself as an 'AI tech company.'
It was the same in 2020. Some projects claimed blockchain integration without actually offering meaningful use cases. Meanwhile, true innovation—like tokenizing real-world assets—was also happening, but it was overshadowed by hype-driven narratives.
NFTs were a prime example. Some collections were literally just JPEGs selling for absurd amounts. Especially for people who weren't as familiar with the industry itself, it was a challenge to differentiate between what was worthwhile and what was just noise.
Five years later, I'm happy to report that consumers in our space are, as a whole, a bit more educated (and less likely to fall prey to the latest hype-driven trend). Granted, there will always be a subset of traders who, for whatever reason, just love speculating on meme coins (and honestly, the odds of making a profit off of meme coins are worse than you'd get at a casino).
At the same time, there's a stronger focus on authenticity. In the blockchain ecosystem, we're seeing fewer anonymous founders and more reputable entrepreneurs—often from Ivy League schools or with established industry experience—leading successful projects.
Investors are more knowledgeable, and companies are prioritizing regulatory compliance. Before 2020, a lot of projects didn't care about regulation or legal structure, which made it risky to work with them. Now, there's a shift toward sustainability and legitimacy.
As the space continues to evolve, business leaders need to update their marketing strategies accordingly. I predict the continuation of a dominant trend toward authenticity.
Marketing in Web3 will need to follow the same principles as major companies—adhering to regulations, abiding by laws and focusing on education. We're already seeing a shift toward mainstream platforms. X (formerly Twitter) is still dominant for Web3, but Instagram, TikTok and YouTube will also be important for storytelling.
Another key shift will be in executive positioning. Right now, many founders prefer to stay anonymous or keep a low profile. But in any successful tech company, founders are important ambassadors for their brand. Look at Bill Gates, Steve Jobs and Warren Buffett—they became the faces of their companies. More Web3 founders will realize they need to step into that flagship role and represent their businesses publicly.
Blockchain is already transparent—that's one of its salient features—but what really matters is transparency in business operations: where funds are moving, project developments and overall intentions. Founders should be clear about their road maps and pipelines.
They should conduct third-party audits—both security audits and financial audits—and share reports. Public companies release quarterly reports, but that's rare for digital currency. I predict that that will become more important.
Another effective approach is education. Some of my clients are already sponsoring free blockchain courses on platforms like Coursera and through universities. As with any new tech, education is key to mass adoption. For people to get involved in Web3, they need to feel like the space isn't daunting, and education makes that possible.
Of course, it's impossible not to mention AI. Already, we're seeing AI-driven content creation in our space, up to and including entire social media accounts on X managed by AI bots. Personally, I don't think that's a good thing. It goes back to the need for transparency and personalization. AI can be a helpful tool, but authenticity requires real human engagement. Rather, the founders themselves still need to put themselves out there, as humans first.
If you're conscientious about building trust, users will become your advocates. Communities are becoming self-generating marketing machines. When a project is authentic and transparent and has strong technology, the community naturally becomes its biggest marketing tool.
To nurture that kind of community, having a strong team is essential. Not every founder is going to be a polished public speaker or an Ivy League graduate. But they can build a team with a balance of skills and personalities that complement each other.
Strategic partnerships are also key—having strong backers, investors and allies in the space.
Strong financial management is crucial. I've seen startups misallocate funds, running out of money before they can invest in proper marketing. Budgeting wisely is crucial.
And of course, the technology itself needs to be solid.
Will there still be a divide between hype-driven narratives and real innovation? Of course. The difference between 2020 and now is that projects with strong fundamentals are gaining more traction. Institutional players are more involved, and blockchain is being used in practical ways, from tokenizing assets to improving financial systems.
Ultimately, Web3 marketing will keep evolving with the industry. The challenge is staying ahead of the curve while ensuring that projects are built to last—not just to ride the next hype wave.
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