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Crypto brands in India are trying to find ways in which they can advertise themselves. Many of them are now turning to gaming sites, general entertainment channels (GEC), and news platforms to get the word out on their operations.
India and Crypto Haven’t Always Worked Together
India has been a very up-and-down country when it comes to crypto. After initially deciding that crypto businesses couldn’t gain access to traditional finance tools, India later labeled this as an unconstitutional move, and the shutting out of crypto was reversed. However, from there, the country has sought to initiate a full ban on digital currency activity.
Now, however, it looks like these companies are eagerly searching for their time in the limelight. Yatin Balin – managing partner and national head of investment at Omnicom Media Group – states:
Considering big-ticket events like the Indian Premier League and ICC World Cup are done with. Businesses now have the opportunity to either explore ancillary advertising opportunities in the cricketing world or opportunities outside of cricket, more specifically in the television and digital spaces.
Jai Lala – CEO of Publicis Group’s Zenith – says:
The advertisers in the space are using their campaigns for both lead generation and awareness creation and they are looking for high impact properties to maximize their access. While GEC and news, both on TV and digital, are attractive options for them, players are also looking at gaming platforms because of similar user profiles.
Ashish Singhal – founder and CEO of Coin Switch – mentioned:
Crypto asset investing is emerging as a popular investment option among digital natives and increasing investor awareness is a business imperative. We are using a robust marketing mix strategy for investor education and protection. A typical crypto asset investor in India is less than 28 years old, mostly from non-metro cities, and more often, exploring asset investment options for the first time… While sports seasons help us inform and educate many digital natives, we will keep the momentum going through relevant digital and print platforms that help us educate and engage with crypto enthusiasts.
Other companies aren’t just looking to market their services. They want to educate the public about this growing space. A spokesman for Wazir X – a crypto exchange in India – stated:
With our marketing initiatives, our goal has always been to focus on responsible marketing and spreading education among the masses about crypto. We want to make awareness and understanding of crypto mainstream in India.
A New and Better Direction?
As it stands, the country is now preparing a bill that would not ban crypto but regulate it and all activity within the space. Nischal Shetty – founder and CEO of Wazir X – says:
India is finally on the right path towards crypto regulation. Industry consultation is crucial and it’s great to see that the crypto industry has been invited for discussions. With the right regulations, India can be a top player in crypto.