Despite having a plethora of expertise in the crypto and Web3 space, many owners and senior managers still squander a lot of time and effort designing strategies and crypto contest ideas to promote their endeavors within targeted communities.
In this blog, we’ll discuss a series of best crypto giveaways and crypto related marketing tactics targeted at getting new users and expanding user base. Management must handle some of these responsibilities, while specialists, community managers, and digital advertising and marketing teams can coordinate others.
Table of Contents
The Vital Role Of Engagement in Crypto Projects
Google defines community as ‘The state of sharing or holding certain attitudes and interests in common.’ Still, in the crypto world, a community is much more than just sharing or having attitudes and interests in common.
As the crypto industry and blockchain technology started becoming mainstream, an astounding number of users formed the basis of hundreds, if not thousands, of distinct crypto communities.
Driving engagement, a strong crypto community can assist a project in ways that may take time to become apparent. When users of a crypto project are well-cared for, they can increase product awareness, promote brand loyalty, and provide feedback. All contribute to a company’s future success.
Focusing on community participation and growth is cost-effective for increasing product or project exposure. People talk a lot, mainly when they are enthusiastic about a product. Therefore, casual online conversations can be an opportunity to promote the product.
These devoted community members are frequently the ones who offer the most comprehensive and constructive feedback. Hence, they significantly contribute to the overall health and growth of the crypto community and individual brands.
Crypto Community Engagement and Growth
Successful crypto projects rely on their community to prosper and drive further adoption. Many crypto community initiatives have failed because their communities were unwelcoming or hostile, despite having vital and unique technical components.
There are several methods through which a community can achieve involvement and growth. The community moderator has to search for the following to make the community active.
- Social media contest ideas
- Crypto giveaways
Identifying crypto community champions is crucial for fostering a strong relationship with supporters. You can achieve this by giving these people exclusive product features, chat room titles, or even invitations to real-world events.
Best Crypto Contest Ideas to Revolutionalize Community Participation
Crypto contests are an essential component of crypto marketing efforts. Practically every crypto firm is working on the next big thing when it comes to rewarding early adopters. They realize the long-term advantage of such arrangements. The project rewards customers for doing something as simple as following their channel or tagging a friend.
With every crypto firm doing the same thing in the name of a contest, users and audiences have also grown bored. Hence, for any crypto marketing team, it becomes essential that they think outside the box and hold unique contests for promoting crypto social media management platforms.
We have curated some of the best crypto contest ideas you can integrate into your marketing strategy.
Referral contests are one of the most used contest ideas in the crypto marketing strategy. The idea behind conducting this contest is to increase the number of followers on the crypto social media and reward those who have helped you bag more followers.
Ask your existing followers to tag a certain number of their friends’ profiles and ask them to follow your page. The followers who successfully complete the task of tagging their friends’ profiles and getting them to follow your page will get free tokens or something else as rewards.
You can use this crypto contest idea during the early days of your crypto social media to gain more followers and expand your community.
Examples of successful referral contests
Web3coin came up with enormous rewards for winners for their referral contests. One hundred random winners earned 1,000,000 Web3Coin, and the Top 50 referrers earned 50BNB. The contest helped them to expand community participation to a larger extent.
🤩#Web3Coin Top #Referral Contest— Web3 Coin (@web3_coin) May 21, 2022
🔗Referral Link: https://t.co/mnnXbKqrT0
Click “Get invite link”
👫100 random winners earn 1,000,000 Web3Coin
🔝Top 50 referrers earn 50BNB
⏰Recommended date: 5st May – 31th May
🕰 Distribution will start after 5st Jun pic.twitter.com/lYoMMwkG6q
WazirX, one of the top crypto exchanges in India, always promotes “refer and earn” for the exchange participants. If trading with WazirX, you can refer a new trader/ investor and earn rewards.
People love memes!
Memes have evolved into a way of life during the last few decades. They’re no longer only for making people laugh; they’ve become a significant part of pop-culture and how we communicate information and thoughts.
Given the inherent volatility of cryptocurrencies, which may contribute to premature aging, memes have provided a safe haven for levity and venting. Conducting a meme crypto contest can help your crypto brand relate to the millennials and the Gen Z audiences in a quirky way.
If creating a meme gets them rewarded with crypto tokens or NFTs, then no other crypto contest ideas can guarantee a better amount of participation (engagement).
Examples of successful meme contests
Cere protocol, a decentralized data infrastructure that provides all data needs through data-as-a-service, once organized a meme competition to boost brand visibility. It asked meme masters to show their creativity and post memes on Twitter and follow the brand profile along with Cere hashtag.
OKEX cryptocurrency exchange conducted a meme master contest for their Twitter community as well as its other channels. It asked the participants to follow the OKEX account and reply to the tweet. It also implemented the OKEXmeme hashtag strategy to expand brand awareness to a larger crypto audience.
📢 Calling all #meme masters, lords & legends for our Meme Contest!— OKX (@okx) July 1, 2021
Unleash your creativity & create #crypto memes to win 💰($150 USDT)
🎨 Post your crypto memes with #OKExMemes + @OKEx & two friends
🔁 Follow + RT this tweet
🗒️Fill: https://t.co/Qx0ZKF47OE pic.twitter.com/SG325wulYr
Assume your crypto project is about creating a DeFi/CeDeFi utility app and tracking traffic to your social media pages or websites; contests can create sudden hype. If you are releasing your new metaverse experience, you need to attract the target community to visit the same. Simply announcing this to the community may not be inspirational enough for the target audience to download the application or visit the platform.
Now you need to persuade these people to utilize or invest their funds and time in your product. What strategy will you use to accomplish this? You may conduct a crypto contest that pays out in NFTs to the winners.
The contest might be as simple as asking the community to rate your testnets or as complex as completing a transaction with your product. However, the opportunity to obtain an NFT will be the central aspect of your contest that attracts attention.
You can also conduct a “Build your NFT” contest and reward a lucky winner by helping them auction off their creativity on your platform.
Examples of successful NFT contests
Battle Infinity – Play-to-Earn NFT Gaming and Metaverse Platform, announced free NFT giveaways through its Telegram community. About $3,000 was distributed to users who completed various tasks while promoting the social media platforms as part of the project.LuckyBlock, a lottery platform on Binance smart chain, announced an NFT giveaway contest on Twitter, attracting several potential crypto enthusiasts to participate. LuckyBlock has offered a BAYC NFT to the winner.
Have a chance to become a #BAYC holder thanks to the #LuckyBlock NFT competitions and rewards platform 🤩⬇️https://t.co/lU8fV2Vz3F #NFTdrop #NFTcollection #NFTs #NFTcollection pic.twitter.com/mxw87mVHvk— Lucky Block Casino & Sportsbook (@luckyblockcoin) October 9, 2022
Crypto contest ideas, such as giveaways, may boost the number of people who follow your social media channels or join your online communities.
Following your channels on YouTube or Medium, participating in your crypto community management apps, tagging friends, and retweeting might be the basic guidelines for entering the contest.
It is a simple obligation to enter a competition, yet the average population needs to be more concerned about doing something as basic as following a channel to do so. However, keeping these new followers when the giveaway contest ends is the real deal.
You can restrict the number of winners to avoid going overboard, but the nature of the prize will almost certainly draw in additional people.
Winners get stablecoins, crypto tokens, and NFTs as rewards. It is an excellent method to get more people to participate in your crypto giveaway contest. You may also arrange a crypto contest with an adequate reward mechanism by partnering with gift card merchants.
Examples of best crypto giveaways
Tamadoge, a brand new play-to-earn arcade with $TAMA native token, announced a huge TAMA token giveaway as a part of building their ecosystem community. It announced rewards of $TAMA worth 100k for winners. The ultimate aim of this giveaway contest was to attract gaming and NFT fanatics to the community, thereby enlarging participation.
Imagine Winning $100,000 🤩 It's Very Simple – Follow The Link Below And Join The #Tamadoge Giveaway Now ⬇️https://t.co/1uGbJZA2eB #giveaway #gleamgiveaway #gleam #cryptogiveaway— TAMADOGE (@Tamadogecoin) October 9, 2022
CEX.IO cryptocurrency exchange runs weekly giveaway contests on its main website. People who trade with CEX.IO or visit the website can enter the giveaway contest. This is one of the best crypto giveaway strategies to attract more ecosystem participants.
Slogan contests or brand contests like logo or mascot design contests can be one of the best crypto contests ideas you can conduct to drive ecosystem participation. You can ask your followers to develop creative ideas for your brand, like writing a quirky slogan or designing a mascot to represent your project, and then reward the best ones, if not all, with stablecoins.
This could be a great way to interact with your creative followers and also collaborate with them firsthand to get your brand image outsourced to your project investors.
Examples of crypto slogan contests
Rubic, a cross-chain technology aggregator platform that allows developers to build cross-chain dApps and provide SDK’s (Software development kits) for a more interoperable blockchain ecosystem, once hosted slogan competition for the community.
It asked the community to write a new brand slogan for Rubic instead of its old one to win $RBC, which is their native token.
Coinswitch once created an interesting slogan contest for Coinswitch Kuber T-shirts on Twitter. It asked the participant to follow the Twitter handle of the brand and reply to their slogans on the tweet.
📢 CONTEST ALERT 📢— CoinSwitch: India's Largest Crypto App 🚀 (@CoinSwitch) June 10, 2022
Celebrating #CoinSwitch x @thesouledstore collab with a very special giveaway 🎁
How to participate? 🤔
👉 FOLLOW @CoinSwitchKuber
👉 RETWEET this post
👉 REPLY with a slogan for our next T-Shirt
10 most creative answers WIN* cool #crypto merch! 🚀 pic.twitter.com/htcFY0wS5M
Voting contests ask your followers to vote for a particular opinion. For example, if you have conducted a crypto slogan contest, you could run a voting contest amongst your followers to vote for the best slogan idea.
|Deciding on a new project:||
A Web3 company could use a voting contest to help choose which project or feature to focus on next.
|Rebranding or redesigning:||
When a company wants to rebrand or redesign its logo, website, or product, it could use a voting contest to get feedback from its community on which option they like best.
|Partner selection:||Web3 companies often partner with other projects or organizations to expand their offerings. A voting contest could be used to help select which partner to work with.|
|Community grant allocation||Many Web3 companies have community grant programs that fund new projects or initiatives. A voting contest could be used to help determine which project or initiative should receive funding.|
Any random winner can be chosen from the lot that voted for the winning slogan and is rewarded with crypto tokens or vouchers.
Creating hype before an important event will also help build curiosity amongst your followers and their circles of friends. Forecasting contests are one of the ideas that usually are adopted by crypto projects to create hype around upcoming events such as ICO or IDO launches.
The best part is that the followers’ guesses, combined with rewards, will make it more engaging for your followers and create a sense of competition among your followers.
In a crypto shilling contest, participants get rewarded for spreading the word about your product to their connections. A simple retweet or tagging activity can suffice.
Participants typically refrain from recommending things to their connections. However, the perception changes, if there is a compelling motive like monetary incentive, accompanies it.
During the bear market, Shiba Inu announced a crypto shilling marketing on Twitter by asking the participants to follow Shiba Inu, like and retweet the post, and tag three new friends. It offered 1000 BNB tokens as the price. It was an attempt to encourage the Shiba Inu community during the most challenging bear markets.
Video Making Contests
Video-making contests appeal to audiences on TikTok or Instagram, which are usually the ones invested in making video content.
This contest helps your audience be expressive about your project and enables you to forge user-generated content. Your followers advocate your project in return for Airdrops or giveaways.
For instance, Alephium, the first operational sharded L1 blockchain scaling and enhancing on PoW & UTXO concepts, once announced a short video contest for the community. The project encompassed various intricate technical and mathematical concepts that have yet to be observed in other blockchain projects and can confuse users.
So, the contest aimed to make the audience and community aware of the project. It rewarded the winners with 10,000 ALPH native tokens.
Leveraging Influencer & Brand Collaborations
You may work with crypto influencers to promote your contest and project by asking them to retweet or give a shout-out on their channels. If you have the budget, introducing your product and announcing the contest on a media site like Cointelegraph or crypto news is also a fantastic option.
Wrapping it up!
A crypto contest can attract active participants and engage the community in your project. It’s something that every crypto company has been experimenting with recently. As a result, there is fierce competition to outdo the previous successful huge crypto contest. In this situation, your crypto marketing teams’ only option is to use creativity.
Your cryptocurrency competition should strike a balance between token utility and gamification. You may get some answers by listening to the pulse of the crypto community, or you can hire a crypto marketing business that is intimately associated with the crypto community.