{"id":15571,"date":"2022-12-17T11:57:15","date_gmt":"2022-12-17T11:57:15","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/ftx-collapse-has-rekindled-security-and-reliability-concerns-for-web3-projects-says-marketing-expert-interview-bitcoin-news\/"},"modified":"2022-12-17T11:57:15","modified_gmt":"2022-12-17T11:57:15","slug":"ftx-collapse-has-rekindled-security-and-reliability-concerns-for-web3-projects-says-marketing-expert-interview-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/ftx-collapse-has-rekindled-security-and-reliability-concerns-for-web3-projects-says-marketing-expert-interview-bitcoin-news\/","title":{"rendered":"FTX Collapse Has Rekindled Security and Reliability Concerns for Web3 Projects Says Marketing Expert \u2013 Interview Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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The fallout from the collapse of failed crypto exchange FTX is forcing Web3 brands, and projects previously focused on managing the public\u2019s perception, to concentrate on fighting for their very legitimacy, Laura K. Inamedinova, a Web3 marketing expert, has said. Besides just trying to convince backers and investors, Inamedinova said Web3 players have the more formidable task of convincing regulators.<\/strong><\/p>\n

Security and Reliability Issues Resurface<\/h2>\n

After initially starting the year focused on community management and the public\u2019s perception, the fallout from FTX\u2019s collapse caused many Web3 brands and projects to switch to arguing for their legitimacy and reputation, Web3 marketing agency founder Laura K. Inamedinova has said. She added that even in cases where there is no direct connection with FTX, Web3 entrepreneurs now feel compelled to address concerns about the security and reliability of their projects.<\/p>\n

In addition to their attempts to assuage the fears of nervous investors and backers, Inamedinova, the Founder & CEO of LKI Consulting<\/a>, said Web3 players have an even more formidable task of convincing regulators. She added that this also applies to projects backed by traditional brands.<\/p>\n

\u201cEven for perfectly legitimate businesses and projects, this has been a huge blow to their reputation. Following the FTX fallout, we can expect a new round of global regulations and more attention to security and projects\u2019 credibility than ever before,\u201d Inamedinova said.<\/p>\n

For large corporations like Starbucks<\/a> or Nike<\/a>, which only recently kickstarted their metaverse projects, the collapse of FTX has rekindled trust issues that took years to overcome. According to Inamedinova, events in the past few months mean it will likely require more time and resources \u201cto prove to mass audiences that blockchain can be trusted.\u201d<\/p>\n

The Disastrous Handling of FTX\u2019s Collapse<\/h2>\n

Meanwhile, when asked about Sam Bankman-Fried (SBF) and others\u2019 roles in handling the crisis from a public relations perspective, Inamedinova told Bitcoin.com News that the whole episode has been a disaster, noting:<\/p>\n

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From the initial crash to his series of badly phrased tweets to everything after, it was a disaster from beginning to end.<\/p>\n<\/blockquote>\n

Concerning SBF\u2019s trial and the court outcome\u2019s likely long-term impact on the crypto and blockchain industry, the PR expert suggested that a lot will likely \u201cdepend on how the actual prosecution is going to play out and appear in the media.\u201d She said if the process is carried out properly the \u201cverdict will be fair.\u201d However, there is a possibility that the process \u201cwill be dragged out.\u201d<\/p>\n

To traditional brands trying to navigate away from the crisis, Inamedinova said they should implement \u201cmaximum transparency in their Web3 projects.\u201d Doing this is especially important now when the lack of oversight and regulation can result in losses that run into billions of dollars, Inamedinova added.<\/p>\n

What are your thoughts on this story? Let us know what you think in the comments section below. <\/strong><\/em><\/p>\n

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\nTerence Zimwara <\/h6>\n

\nTerence Zimwara is a Zimbabwe award-winning journalist, author and writer. He has written extensively about the economic troubles of some African countries as well as how digital currencies can provide Africans with an escape route.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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