Stop marketing and use this simple crypto strategy instead

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What would you do if you had a list of your competitors’ customers??

And what if you could make them an offer to do business with you instead??

McDonald’s currently has the 35th ranked free app on the Apple App Store. Clearly their mobile strategy is working well for them and their customers love earning points on their orders.

Let’s say you’re the VP of Sales for Burger King and you get a strange email -

“Hey, I have a list of every iPhone that has the McDonald’s app downloaded. We also have the list filtered for those who actually use it. We can help you send a notification to every one of those phones with an offer to install your Burger King app. Interested?”?

Ethics aside, it’s a compelling proposition, isn’t it?

As the VP at Burger King, you could have two key points of information that you wouldn’t have otherwise:

1. Who has the McDonald’s app
2. Who is using the McDonald’s app

This is a fictional example since these data are not available on either iPhones or Android devices.

This is a completely real example when it comes to crypto, though.

Let me introduce you to something called Vampire Attacks.

Vampire Attacks and how they work

Vampire Attacks are designed to suck the liquidity (aka money) from one crypto protocol to another.

A core tenet of a public blockchain is transparency. You, me, or anyone else can open a website called a Blockchain Explorer and see exactly what’s happening at any time. The entire history of every digital asset can be traced, and the owner (by their digital wallet address) can be found.?

Now let’s say you’re the VP of Sales for a new crypto project called Smurfex (fabricated by Yours Truly) that offers perpetual swaps for those who wish to hedge their risk through options. Unique to crypto, perpetual swaps (perps) have no expiry and no strike price, unlike standard futures contracts. Perps allow investors as much as 30x leverage as well.

There are already competitors who offer perpetual swaps, and it’d be great if those competitors’ customers could be yours. Your top competitor (the McDonald’s to your Burger King, if you will) is called Gargemex. Instead of using standard methods to acquire customers, you decide to execute a Vampire Attack instead. How would that work??

1. You use a Blockchain Explorer to find all the wallets holding the Gargemex tokens
2. You offer those wallets the opportunity to earn your Smurfex tokens by using your platform instead

As of this writing, there isn’t a reliable way to send direct messages to wallet holders themselves, but you could use social media (especially Twitter) and messaging platforms (like Discord and Telegram) to make an offer to Gargemex’s users.

It could look like this -

“Using Gargemex for your perp swaps? Use Smurfex instead and earn bonus rewards by connecting your wallet.”

Heck, you could even ask Twitter "influencers" to tweet it out too.

Any wallets connecting to your Smurfex portal could be scanned for past Gargemex transactions. Depending on how much activity (money) has been generated in fees for Gargemex, you could offer varying bonuses.

More past activity on the competitor’s platform? Offer more bonuses.

A Non-Fungible Token (NFT) marketplace called Blur?started doing exactly this right now. Digital wallets connecting to the site are offered bonus “crates” (aka tokens) for their past activity trading NFTs. The only stipulation to get the bonus? List an NFT for sale on Blur instead of another marketplace.

As more digital asset activity occurs on blockchains, more Vampire Attacks will occur as a customer acquisition strategy. Will they continue in the future? It’s likely, since past scenarios have been extremely effective. Long-term, though, the best teams with the best offerings will win, regardless of a Vampire Attack growth tactic.

Whenever you’re ready, there are 2 ways I can help you

1.) I can give a presentation for your company, conference or event, educating on crypto topics.

I average about a half-dozen presentations on all things Web3 per month, and would love to help you.

Just?shoot me a LinkedIn message and let me know the topic(s) you’d like to learn.

2.) You can share this newsletter with a friend or colleague.

Here's a direct link to the newsletter.

See you next week! - Spence - spencerXsmith.eth