Reddcoin (RDD)
Overview
Reddcoin (RDD), a cryptocurrency specifically geared toward tipping and rewarding quality digital content, launched in 2014. Over the four years since its inception, the coin has gained traction and an avid fan base. With the impending launch of its ReddID crypto wallet, however, Reddcoin decided it was time to up the ante and bring on BX3 Capital to assist with its public relations and marketing reach.
Goals
- Increase Reddcoin’s media exposure, with the launch of its ReddID wallet as a news peg.
- Position Reddcoin as a pioneering leader in tipping/compensation platforms for social content.
Strategy
- Press release: BX3 structured a press release hinging on how ReddID is the next step in content compensation
- Broadened focus to include both longstanding cryptocurrency enthusiasts as well as digital media consumers who have not yet adopted cryptocurrency platforms
- Focused on ReddID’s platform-agnostic, digital ecosystem-friendly platform as a utility benefiting all donors to digital content creation
- Highlighted aspects of ReddID that may have applications in the business/cryptocurrency world, such as its search function showing which content is receiving the most tips on the platform
- Issued press release hours after ReddID launch on PRNewswire, considered in the communications industry to be the gold standard of release wire services
- Morning of release, launched concentrated media campaign to cryptocurrency-focused publications, including targeted approach to outlets and reporters who had reported on Reddcoin in the past
- Follow-up outreach to reporters at top-tier media outlets covering technology, gaming, and social media
- Social media outreach via BX3 channels
Coverage
Reddcoin’s ReddID launch has garnered a steady drumbeat of positive coverage and attention on its new product. In addition to press release pick-up on 213 websites, including such top-tier outlets as Business Insider and Yahoo! Finance, there has been a stream of original news in key trade publications including:
- Crypto Briefing: Is the Reddcoin ReddID Wallet the Answer for Online Tipping?
- Null TX: Reddcoin’s ReddID Supports All Major Social Networks at Launch
- Coindoo: (RDD) Review: Learn More About the Social Currency
- Use The Bitcoin: Reddcoin Price Gains 16 Percent as Hype Surrounding ID Project Intensifies
- Today’s Gazette: Reddcoin (RDD) is Undoubtedly a Goldmine in the Crypto Space
- BX3 Tweet about ReddID press release received most engagement of any social post since BX3’s launch
Reddcoin Price Bump
According to an analysis in Use The Bitcoin, Reddcoin Price Gains 16 Percent as Hype Surrounding ID Project Intensifies, the price of RDD gained 17 percent in US dollar terms and 18 percent vis-a-vis Bitcoin the first few days following the ReddID launch. More specifically, cryptocurrency trade press cited “the hype intensified around the ReddID project;” i.e., the wallet’s earned media buzz, as a key driver in RDD’s surge in value. ForexNewsNow, which had multiple articles that took a bearish stance on Reddcoin, changed its outlook on RDD the first week of our concerted media outreach.
Conclusion
A concentrated media blitz surrounding a product update can significantly boost market awareness for projects in the cryptocurrency industry, especially those with a history of community support. As the company reaches a new level of maturity, earned media placements and full transparency about latest developments will elevate the brand and develop a sense of trust among target audiences and potential investors.
