PR ON THE GO September 27, 2022

The Role Of PR In Web3

We asked Yuping Xu of Topic News PR

Yuping Xu is the co-founder of Topic News - a press release distribution service to achieve press coverage on the Asian market, combining newswire service and news editor pitching.

The PR and Content Localization expert is based in Taiwan and has helped hundreds of businesses gain online media exposure in China, Japan, Korea, Taiwan, and South-East Asia.

Yuping also is one of the most futuristic experts in our network. Early on, she started experimenting with AI generated avatars to turn press releases into videos.

Currently, she is looking into the new era of the world wide web, namely Web3, and the early adoption of PR in this space. We asked her for an interview on this topic.

Let’s start with the basics. What exactly is Web3, and Web3 PR?

Yuping:

"As I see it, to generalize Web3 is by the use of Blockchain, AI and Metaverse.

Although in the narrow sense, most people define Web3 as the World Wide Web which incorporates decentralization, blockchain technologies, and tokenized economics, or tokenomics.

If you own a crypto wallet, or play games in the metaverse, you are in the Web3.

For PR, Web3 is a special category, because it incorporates IT, internet, economic, gaming, AI, cryptos.. etc., and it’s hard to define it in a single subject as the traditional news topic. That’s why there are news websites dedicated to Web3 and cryptos.

In Web3 PR, you need to distribute content to channels that can touch Web3 users, and by channels, it can be tech websites, crypto websites, blockchain social media, even chat apps."

The internet right now lives from user-generated content which experiences a peak with the current boom of the creator economy. How will Web3 affect user-generated content?

Yuping:

"This is a great question. Web3 provides versatile channels for creators to create, display and sell their assets.

Let’s get to the practical:

Here is the music I created with AI (I paid for the full rights, so I can use it in for commercial usage).

Here are some images I created with AI (Midjourney):

These are not particularly good pieces, but you get the idea - any dedicated user can generate their creation portfolio and profit from Web3 applications.

It encourages user-generated content and engagement, the technologies empowers people to generate and share content."

Is Web3 PR only relevant for blockchain and crypto startups?

Yuping:

"Web3 PR should be relevant to all consumer oriented businesses, not only blockchain and crypto startups. Just that blockchain related startups are known to utilize the Web3 channels better."

Why can it be beneficial for entrepreneurs, SMEs and public companies to look into Web3 now?

Yuping:

"We must admit that there are still challenges to the diffusion of technology among SMEs.

For a web-based, direct-to-consumer business, the answer is most likely yes. But you don’t need to spend too much energy and money on it; at this point, I think the most important thing at this point is to have presentable content that shows the value of your services and products. That is the base of everything."

What could be a strong adoption use case for businesses?

Yuping:

"1. Accepting crypto currency payment (if local regulation allows)
This is perhaps the easiest way to get involved. My agency already has several crypto-paying customers.

But before we start accepting cryptos we consulted with our accountant to know all the necessary preparation.

In my case, we report our wallet address to the tax authority, and all the crypto payment must report the record and exchange into fiat money.

Another thing is that you should only accept most traded currencies such as ETH, USDT, etc.

Many well-known US companies are early adopters, such as Microsoft began accepting the cryptocurrency as payment to buy games, apps and other digital content as early as 2014. Whole Foods, Etsy, Starbucks, Newegg and many more companies accept crypto payment.

2. Adopting blockchain application in the business
It depends on the nature of the business to decide what blockchain-based application is adoptable.

Supply chain management, logistics and product authenticity are among the early blockchain technologies that are adaptable for SMEs.

In the case of PR, all my press releases are published to blockchain platforms. Here is an example - one of my outlets is Matters News.

Every article is saved in IPFS (InterPlanetary File System) and distributed into several public nodes, as seen by the screenshot below:"

Bloomberg has described Web3 as an idea that "would build financial assets, in the form of tokens, into the inner workings of almost anything you do online“. How can or will the creator economy benefit from this idea /concept?

Yuping:

"I can’t agree more with that, however I think people should not be afraid of tech jorgans. It’s just like connecting to the internet and doing your usual things, just the system behind works differently, but we shouldn’t see big changes on the front end.

Strictly speaking, the moment we start using credit cards we already adapt to digital assets.

It is indeed a digital renaissance for creators, because of the multiple ways to create, display and sell assets."

What is the benefit for startups that incorporate Web3 technologies into their platforms now? How can it benefit their PR strategy?

Yuping:

"Web3 is an inevitable trend for the future. I'm a Web3 user and can’t say I know much about Web3 adoptions for startups, but I believe each industry has their trusted experts to consult on how to implement blockchain technologies.

An important thing to know is that Web3 has a very open social media character, in the PR point of view, it makes reputation management more difficult. But do not fear being the topic of discussion, the principle is to be quick to respond and to be sincere to the public, then everything will be fine.

For B2C businesses, Web3 brings more ways to engage with consumers.

A good example is Discord. A channel in discord is called “a server”, and when you get the link to the server you are considered invited to join. A discord server is like a big chatroom, people’s messages flowing in real-time and you can share content from other platforms.

Other popular platforms where Web3 users frequent are Twitter, Telegram, Reddit.

For social media that are BUILT on blockchain, you have Odysee, the “YouTube” of Web3; Dimond, the twitter of Web3, just to name a few.

For PR purposes, you can explore those Web3 channels and use them to build audiences."

What are Web3 PR best practices?

Yuping:

"The best practices for Web3 PR are a mix of traditional PR and new technology.

I will summarize with highlights:

1. It is important to have an updated website with the most relevant content, and collateral that can be customized on the fly to fit your industry.

2. Check the possibility to accept crypto payment

3. Hook the content into web3 platforms

4. Even if you don’t want to take part in Web3, you can still learn more about it. Be curious."

How can an entrepreneur best reach out to you for Web3 PR?

Yuping:

"You’re welcome to leave me an online message HERE."

Thank you!