Crypto Advertising Market Growth in 2021
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There is a lot to say about cryptocurrencies; despite their volatility, it appears that they are still on a bull run and show no signs of stopping. They grow by the day, and no one knows when they will enter the bear run.
Meanwhile, as the cryptocurrency market grows, the advertising industry expanded as well and has the opportunity to develop even more. The advertising sector appears to have begun around 2011-2012, although it has grown in tandem with the Bitcoin price booms.
A significant example was in 2017. As Bitcoin was reaching $20k for the first time, more and more crypto projects appeared on the market looking to advertise. This situation assisted the crypto advertising domain's expansion, yet causing concerns with advertising limits on Facebook, Google, and Twitter.
Furthermore, in the case of a pandemic situation, the price of cryptocurrency did not stop rising but increased significantly. And so did the need for crypto advertising.
Crypto advertising explained
When it comes to advertising, there is a simple method to define it; for the crypto industry, it refers to linked initiatives and products through the means of advertising.
From cryptocurrency exchange platforms to the newest things to arrive on the market, everything in the cryptocurrency domain that can be promoted gets advertised. Regardless of the type of project, companies in the crypto space rely on the internet to communicate with their desired target population.
Display advertising, native advertising, press releases, and advertorials, as well as sponsored announcements, are among the strategies offered.
A cryptocurrency project's benefits become more valuable for the brand through advertising. That's because the ads provide the consumers with the information they should know to choose a product. And as it seems, this appears to be the future of advertising, and it will not stop there.
Limitations for advertising
2018 was a year of surprises and new developments for the crypto market. Between all those developments, Google, Facebook, and Twitter prohibited cryptocurrency advertisements in March 2018.
The issue has arisen due to the expanding number of ICO platforms, which have put many investors and customers in danger by providing them with only crumbs but nothing secure, including several scams.
The bad publicity surrounding led to a situation where the most important advertising platforms would rather not get involved in crypto, and the common attitude around ICOs would be to avoid them.
But as time passed, the stigma mellowed down. Facebook started allowing limited advertising for educational content. Even Google started to allow advertisers to promote crypto-related products. However, only with special certification and as long as they comply with other restrictions.
And in 2021, Google has announced that their crypto prohibition would loosen up furthermore.
Yet, the loose limits are still rather restrictive for most cryptocurrency projects out there. So, cryptocurrency-related ads continue to heavily rely on dedicated platforms, reducing the danger of being banned or blacklisted.
Dedicated ad networks support the growth of the market
The cryptocurrency advertising market is anything but a monolith. Since 2011 many ad networks have appeared and disappeared just as fast.
However, as the crypto market grew, some ad networks became prevalent, leading to more comprehensive marketing approaches.
In 2021, the ads surrounding cryptocurrencies are prevailing thanks to the growth in capabilities advertising networks have seen.
Coinzilla, one of the leading ad networks from the crypto segment is an excellent example of a trusted platform keeping up with the market's growth. While striving to keep scammers at bay and encouraging legitimate projects to come into the light, the platform managed to expand its reach.
Coinzilla's reach has grown significantly over the years, and it now delivers over 1 billion impressions each month, covering 160 countries. Considering the expansion in reach that crypto ad platforms have grown to offer, now, crypto projects have the means to advertise worldwide.
And in the end, it all goes to the benefit of the whole crypto community. Nowadays, crypto enthusiasts don't need to skim every obscure forum to find out about new projects. The information will find them giving a better idea of what products are out there.
In a way, the growth of crypto advertising leads to creating a real choice.
And even though there are many challenges to face, the crypto advertising domain may, in time, reach a stage of maturity and equilibrium.