VaaSBlock collaborated with Eleven International, an AUSPAC PR firm, to help them establish a unique identity as a credible agency in the competitive web 3.0 vertical. They achieved a rare feat by earning the esteemed RMA™ badge, a recognition reserved for organizations that successfully complete a comprehensive audit of their entire operation. It’s worth noting that most agencies aspiring for this accolade fail to pass the screening call, let alone the audit. This is a significant milestone for Eleven International, and in this case study, we’ll delve into the market dynamics and how the RMA™ badge truly sets an agency apart from its peers.
A warped market
The new Media Jungle
In the crypto industry, PR has grown its own definition. PR has become a buzzword in the Web 3.0 industry, with little substance or understanding from the general public regarding its definition. Too many companies will say, “We need PR,” and that is about the end of the thought process. This lack of understanding of a medium for communication and how widely this problem has become has led to novices jumping up and declaring themselves PR geniuses.
In reality, most of these “geniuses” have no background in journalism or brand management and are just armed with an AI bot standing by to write and release press releases. FYI – this is not close to what true professionals do.
Pay-to-Play model
The demand for this service, which seldom leads to commercial results, has soured higher than the price of Bitcoin, and as a result, these “geniuses” can charge large sums for, well, nothing. The Web 3.0 industry is here to stay. These days, a very quiet voice online is claiming the whole industry will fall. Governments are bringing out legislation that provides a framework for building in the space. A more headline-worthy example is the string of ETFs rolling out everywhere.
Strategic Limitations
This certain legitimacy is attracting the attention of career PR professionals, but the broader misunderstanding about what they do has created an exciting challenge when communicating with potential prospects. It is more than just writing press releases and then paying for some websites (that will never be read) to host them. PR should be an entire communications strategy, and an agency should have a network of journalists to pitch organic stories that real people will read. The agency should have a plan to measure the impact of their work, not just to get results but also to adjust and learn. PR isn’t something you do one day; it is an ongoing process that seeks to build the brand’s reputation with many small pieces that build up to something impressive. It is planning for the unexpected, so if something unfortunate happens, you have a plan ready and not making something up on the fly. Far more often than not, pr is a marathon than a sprint.
Giving an agency legitimacy
As the Web 3.0 industry is still in its infancy, it’s inevitable to work with companies with less than a decade of experience. Every organization in this space is still shaping its future and long-term reputation. At this juncture, it’s crucial to mention that everyone can contribute to this evolution by earning the prestigious RMA™ badge through an independent audit. This process is not easy, but it’s a testament to an organization’s commitment to legitimacy and excellence. A business that puts its reputation first such as Eleven International, is incredibly careful with who they will work with. The result is that Eleven International has a waitlist of potential Web 3.0 clients who want to work with them. Most crypto companies that apply will be rejected by their diligent founder Francis who is very aware of the importance his own and the company’s reputation holds. Their primary business is in tech, and they have an impressive portfolio of clients, including Oppo, Alibaba group, Toshiba, and Mi.
To present themselves as being within the top agencies in the blockchain space, Eleven seeks ways to stand out, receiving an RMA™ badge, an elusive achievement for an agency that helps them on this path. Having seen the complexity of the achievement and the awareness of the prestige an independent audit holds for a blockchain company, they recommend their clients undergo the process as well.
At the core of PR is the establishment of a strong reputation. When you collaborate with companies that demonstrate their legitimacy, both brands experience a boost in perception. The RMA™ badge, a symbol of credibility and trust, is the most effective way for crypto companies to quickly identify and ensure they work with the best.A Web 3.0 product or service that has already obtained an RMA™ badge will find it much easier to work with a PR agency with a proven track record.
About VaaSBlock
Founded in early 2024, VaaSBlock is a pioneering force in the web 3.0 industry. Recognizing the need to distinguish quality organizations from the less legitimate, our three founders devised a unique system. This system audits organizations across six key areas and awards eligible ones with an NFT-Verified RMA™ badge. Projects with this badge stand out from their peers, which have yet to undergo an audit and verify their legitimacy. [LinkedIn] | [X] | [Threads].
