Cassatt noted the increasing standards for due diligence in public relations, noting her crypto PR often relies on well-researched venture capitalists.
Amanda Cassatt, the creator of Web3 marketing agency Serotonin believes that investors should never become overly confident in their ability to trust marketing and should always conduct their own research.
This is in spite of the fact that bitcoin is becoming increasingly popular. In an interview that took place at Token2049 in Singapore, Cassatt stated, “Marketing is a mechanism for perpetrating the fakery and the scams, and I think people should be very skeptical and do their own research.
Investors of all levels should always remain skeptical
“In his explanation, Cassatt stated that both experienced crypto investors and beginners should adopt a position of “skepticism” regarding crypto marketing and “always do their own research to understand any technology or product they’re using.”
She mentioned that over the past few years, the standards of due diligence for public relations businesses have increased. Firms must now be more cautious than ever to ensure they are working with authentic cryptocurrency projects.
According to Cassatt, this frequently entails public relations professionals obtaining second opinions from fund managers and angel investors who have carried out more in-depth financial examinations of the idea.
The majority of our business comes from referrals from the most successful venture capitalists in the industry, and the fact that they have performed their due diligence on these projects is unquestionably beneficial to us,” she noted.”
Crypto PR firms must conduct their own due diligence as well
We also conduct our own process for making sure that not only is it a viable project that we believe has a good team and is able to actually accomplish its mission, but that we believe we fit in,” she continued. “We also make sure that we believe we come from the right background.”
Additionally, Cassatt discussed celebrity marketing in the cryptocurrency industry, expressing his opinion that the “juxtaposition” between a celebrity and a cryptocurrency product is what makes it memorable.
She believes this is the reason rapper Iggy Azalea’s Solana-based coin, $Mother, has generated excitement. “Iggy Azalea is not someone who has a brand that immediately makes you think of technology or cryptocurrency, and as a result, she is creating this juxtaposition to be a zebra walking down Fifth Avenue. In order to stand out, be memorable, and get people excited,” she stated.
If a cryptocurrency project fails, it may have repercussions that extend beyond the directors, staff, and contracting firms involved, including marketing agencies.
Following the collapse of the cryptocurrency exchange FTX in November 2022, a class-action lawsuit included a number of “YouTube influencers” who were seeking one billion dollars for their role in marketing the exchange.
