HackerNoon's Startups of The Year Award: Responses

For those who might not be deeply familiar with blockchain, can you explain why it's so crucial in today’s digital age?

One of the core parts of the digital age is giving power back to the people; you see it in the way ordinary users can have their voices heard and businesses can be seen without the approval of gatekeepers. Blockchain is the highest form of this because it is fully democratized.

Imagine a global computing system that belongs to everyone and no one at the same time. That is blockchain in a nutshell. Blockchain is important in the digital age because it puts people in control while making computer systems better and safer with things like Decentralized Autonomous Organizations (DAOs) and crypto wallets.

What are some of the most innovative projects or products your company is working on right now? How do they address current market needs?

We’ve been lucky to work behind the scenes of some truly amazing projects so far. We worked with top crypto exchange OKX to increase user growth through a PR campaign and banner ads. The result was over 492,000 user engagement and increased brand awareness.

These days, we’re working with clients to better leverage influencer and PR marketing. Both are huge markets delivering results for many other industries and we believe that the blockchain space has even more to gain from it.

What are the biggest challenges your company faces in the crypto/blockchain space, and how are you planning to overcome them?

First, there’s the matter of regulation. Laws about how you can market blockchain products are always changing so we have to keep track of them to stay on the right side of the law.

We also have to convince clients of the benefits of more ‘traditional’ advertising methods. Most of them understand digital ads and influencer sponsorships but getting them to do radio or billboards is sometimes a feat in itself. Then, of course, you have the holdout consumers who don’t see the value of Web3 just yet.

How do you envision Web3 transforming the internet as we know it? What are the key benefits and potential drawbacks of this transition?

Web3 is going to create an internet landscape where data and power are split across millions of nodes and not concentrated in a single palace. The benefit of this is that hacks, especially of widely used systems, will be close to impossible.

It also means that users will have more control over their own data and content and can enjoy more privacy. The Web2 space has, with all of its perks, been dominated by big corporations like Google with centralized systems and near-monopolies on the Internet. Web3 is going to change that.

Are there any traditions you would want the world of web3 to adopt from the web2 world?

Web2 notably ushered in a new era of user-generated content and changed the way we share information thanks to the platforms it enabled. Web3 would do well to integrate this as it becomes a reality.

Are there any challenges to transition from web2 to web3?

There is an obvious reputational issue as some consumers and even businesses are reluctant to take the leap. Part of this is because they don’t understand how Web3 works and what it can do for them.

As the space expands, better regulations will be needed to avoid it becoming a Wild West. Most of these issues arise because they are relatively new and should be addressed over time.

Can you explain some of the technical advancements that are making Web3 possible?

All the technologies that allow for decentralization are fast making Web3 a reality. You have blockchain which is the basis of things like cryptocurrency and NFTs.

You also have smart contracts that allow transactions to be completed automatically and permissionlessly. From all these, we can begin to build a truly decentralized future.

How can developers get involved in this space?

Developers can get involved by, well, getting involved. Developing new tools and programs that leverage Web3 technologies and make them easier to use. We need all hands on deck to make Web3 a reality and many of our clients are proud to have worked with a wealth of developers.

How do you think influencers and social media personalities impact the cryptocurrency market?

They certainly influence the demand for tokens. We see this when influencers launch their own tokens or promote existing ones. They have the power to drive demand for every product you can imagine and crypto is no different.

Do you see this as a positive or negative trend?

It has the potential to be both. If influencers are using their platforms to encourage their fans to invest responsibly in worthwhile projects then it can be positive. If not, then it’s negative.

TikTokers, Instagrammers, X (formerly Twitter) accounts -- how are they shaping the discourse?

They’re amplifying every kind of crypto opinion there is. From giving verdicts about assets to discussing laws and even scandals, they help to cultivate an engaged community that has a vested interest in the success of the industry.

What do you think is happening? Are these platforms credible sources for information?

I think the industry is expanding and with this expansion comes a demand for content. These platforms can be credible sources depending on who you’re listening to. Misinformation is an issue in every corner of the internet so users need to be cautious.

What do you believe are the strongest arguments in favor of cryptocurrencies and blockchain technology?

These technologies give power to the people; historically underserved people can get access to financial services through DeFi, prosecuted populations can access funds through crypto, information can be stored forever on the blockchain, and even elections can be made fairer using this tech. There is something for everyone and if harnessed properly, blockchain can help humanity become its best self.

How do you respond to critics?

We respond by showing the value we deliver to clients. You can argue about tech preferences but you can’t argue with years of an impressive track record.

Blockchain and cryptocurrencies do have their detractors. What’s an argument or rationale you use to convince naysayers or those on the fence about blockchain and crypto?

Our argument would simply be to take a look at all the amazing things happening in the space. The crypto industry is complex but that is to be expected of any new sector. Even outside of crypto, look at all the ways blockchain is being implemented and it’s pretty obvious that it has a lot to offer.

What advice would you give to someone who is just starting to explore the world of cryptocurrencies and blockchain technology?

Our advice would be to do your research and engage with the community. Succeeding with blockchain and crypto is all about knowledge and research plus community is how you get it. Also, try to have fun with it.

Any sources to check out? Any media sites to visit? Any X (Twitter) accounts to follow? Share the deets!

Hackernoon, definitely (wink) but also BeInCrypto, Cointelegraph, Coindesk, and the like. These sites have been giving top-notch blockchain reporting for years so we highly recommend them. Twitter/X founder Jack Dorsey, Ethereum founder Vitalik Buterin, POMP, and Gemini-Cofounder Tyler Winklevoss are some insightful personalities we love on Twitter/X.

How do you see events like HackerNoon’s Startups of The Year shaping public understanding and engagement of the crypto and blockchain industry?

It’s great. We see it the way you might see awards like the MTV VMAs; it lets the world know that certain acts (or businesses, in this case) have a solid community behind them. By giving businesses in the space a platform for recognition, skeptics can see that they are as legitimate as any other start-up. It’s also great for morale; a niche industry like blockchain can sometimes feel isolated but initiatives like this bring the community together and show us how far we have come.

Why we decided to participate in HackerNoon's Startups of The Year awards

We’re a marketing agency so we’re all about collaborating and connecting others. The HackerNoon's Startups of The Year awards give us a chance to connect with other businesses in the space as well as the community that supports our work.

As the awards unravel, we’re learning more about other firms that operate in the same sector and this creates the avenue for possible collaboration. Similarly, other potential partners and clients can find us and this is a win for everyone. We’re proud to be part of the blockchain community and this is a great opportunity to connect even more with it.

Final Thoughts

Proelo.io has worked behind the scenes of some of the biggest marketing campaigns in the blockchain industry for years now. We’re immensely proud of what we do and would be honored to receive HackerNoon's Startups of The Year award. We find ourselves in great company with a wealth of respected companies and hope to keep serving our industry for years to come.

Vote for us today!