# Attention Is a Liquidity Game: How Crypto Projects Actually Win Mindshare — Artem T. | Wenaltseason

- Channel: [ETH Belgrade Community](https://streameth.org/eth-belgrade-community)
- Date: 2026-10-06
- Duration: 21:27
- Topics: People & Blogs
- Watch: https://streameth.org/watch/yt-0EPRnCtWKEk
- YouTube: https://www.youtube.com/watch?v=0EPRnCtWKEk

## Transcript

Uh so yeah my name is Artam. I'm the co-founder at penalties and labs and uh we are doing different uh marketing campaigns and uh media presence for our projects uh like clients and partners. And today I want to uh drop notes about how attention is uh equal to liquidity in current in current markets and uh show you some playbooks of uh how we doing our campaigns nowadays. Uh so first uh first one I wanted to share some info about how most of the teams run nowadays uh and why is it like false path. So uh first of all the projects decide to pay KLS buy different impressions uh invite uh to the community with a lot of spam uh phrases and then they just hope that attention will come to their project and that's it will like skyrocket if it's like token or that users come and start using it if it's like uh product but uh the main thing is uh impressions it's not a users even if it's organic impressions uh and uh why the problem why is it keep happening uh in my personal opinion that the our our fear is very young and uh a lot of CMOS they have like five years of marketing experience uh and in average web two world they will be just a regular uh mid-level manager and that's it and that's the real big problem uh that if you like a good project and you want to hire CMO you can't do it on the current market you need to hire CMO from web two and learn them uh crypto or you need to hire mid-level guy and teach him act as a CMO uh it's like one of the first problems. Second one is that most of the campaigns u they acting from the playbooks from X threads. For example, if we post like our X thread about like how to do marketing campaign how we did it for our past uh project. I saw bunch of projects doing kind of same way afterwards and hope that they will uh gain the same results and that unfortunately it's not how it works and also AI right now uh it's really good that we have such an easy way to uh do our regular stuff to automate uh our I don't know posting uh our management with AI tools But in terms of marketing stuff, there are a lot of SMM managers who just posting charg uh tons of with emojis and that's it. And they name it like uh SMM. So uh you need to be aware of of this stuff. uh about the core idea uh the main stuff I wanted to share with you is that uh you need to uh you need to understand attention similar to liquidity. I think here in web free most of us traders some days uh so you you can uh see that uh most of the attention act like a liquidity uh in four in four main ways. First one is for example in liquidity uh all of the liquidity flows to yield. In marketing all of the attention flows to narrative. So if you have strong narrative you will have good attention at least some sometimes. Uh if in liquidity depths absorb size uh so in attention trust absorbs skepticism. So uh all of the stuff uh all of the skeptical thoughts about your project can be absorbed by trust of of your users. Uh in liquidity slippage it feels in uh uh attention sorry yeah in marketing attention uh no path it's bridge. So if you have no path about what you want to do uh next step after you I don't know posted some research uh you can't just uh get traction on it and uh if uh in like trading after pumps we we will see dumps or like some kind of reward in uh in marketing after hype uh we will see fate if we stop refill it with new um communication you narratives and that's it. So uh what's our playbook is? Uh mainly we have it's very simple. We have three steps like you need to have good narrative, you need to have uh nice distribution ways and you need to measure your conversion because um um how we usually work here with with our campaigns uh first you need to test your narrative because you can't uh estimate it by yourself. It will be your like uh personal personal think about. Okay. I think uh I don't know this funny picture will uh will grab a lot of a lot of uh reacts and a lot of community like in today's without test with real users you can't be sure that it will works. As for the distribution, mainly there are a lot of distribution ways because we have at least like eight uh different channels uh to create like your social media and to create community there but uh only part of them works and I will speak about it in the future. uh and about the conversion you need to to to measure it and to have clear way of uh of next steps about what you do after uh you see some numbers. I will also dive deep a bit later. So step one narrative. Uh the main idea here is most of the time you're not creating narratives. uh you just borrow the attention from already created ones because uh right now on the market when you can see such a strong narrative as uh like prediction market or Robin Hood meta nowadays uh you can't just came and tell the okay NFT now is new narrative you need to at least uh to prove it somehow or to push it with like uh big big names because you need to prove that uh the new product or new narrative uh will will work for at least few months because without it uh current strong narratives will will just defeat you. Uh so I prepared small game for five six of us. uh good narrative or not. Uh I have four projects uh and I propose you to to recognize is it a good one or not like with your clamps. So for example uh do you think this NFT colle uh here is the description NFT collection turned consumer brands toys in Walmart billions of views launching its own memecoin. Uh if you think it's good one, please clap. Uh it's like last let's say it's last three years. [gasps] >> Yeah. >> Okay. One one for pump and three for dump. Correct. It's penu and it's kind of good one. So congrats. [laughter] [snorts] Uh I think everyone knows Pango so I don't need to explain why. Uh let's do second one. AI platform where you can train your personal AI persona and earn rewards. What do you think? Uh okay two two three for dump one for pump. Okay. Oh what what I did? Sorry. Yeah, it's kind of shitty stuff. AI avatar number 3,000 on CMC and markup is like 87K. So, no one knows about it. Uh, green techa backed by world's biggest celebrities and they disrupt in 300 billion market. Okay. Uh, you you're completely right. It's planetary. I it's first time I think you you you see about this stuff. And last one uh tokenized US treasures for institutionals suits compliance yields the most boring pitch in crypto. Okay. Yeah, you understood how how to how to recognize it. It's on the finance and right now it's like I think one of the uh most uh live narrative which is connected to institutions. So [snorts] uh what I wanted to uh to share with those small interaction is that uh you you can't only have narrative you need also uh have good ways of distribution and uh proceed with uh with interactions because for example uh for Pangu they can claim it and other two guys two projects which were listed they couldn't. Uh so about distribution uh main main uh thing here is that uh single channelers aren't working anymore because the last time that you can just for example buy few ks and be sure that your project uh will be good for few for few months. I think it was like 2023 after uh you need to have only like combinations. Here is u list of usual u usual uh channels we use in our work like eggs discord telegram communities influencers with their local communities alpha chats shillers shows and podcasts and press releases and you cannot just uh buy like 10 press releases and that's it you need to uh combinate uh and in my personal opinion here I uh highlighted like two main uh paths for uh for example for institutional product is like alpha groups and shows and podcasts for example if you kind of project like ono you you can do uh a lot of different interviews podcasts and that's it you no need to to do other stuff because you work for institutionals and that's uh the main channels they reviewing most of the time. But if you commun based project focusing on retail needs to use another uh another channels and I highlighted here articles and shillers and influencers. uh in this combination you can uh understand that uh your project will be uh will have good uh co for example if I Google it and uh it will be have good uh uh visibility in socials like an X and uh telegram for example because if me as a uh regular user uh if I hear about new project first time uh I check it's in X I check its account I check mentions and this is um so but what about the conversion um I propose here to uh to do this way you need to design your path before before you start acting uh and how we usually do it uh we start testing uh narrative and ways of distribution before we actually spend like at least $1. Uh so for example, if we start creating some marketing campaign, we come to uh different influencers with their uh local communities. For example, we need to have some campaign for for Chinese market. We come to influencers with close chats in WeChat and ask them hey we have this project uh with this highlights they want to this amount of users will it uh be popular in your communities or not and we collecting this type of feedback first and after we uh we can we have a time to change narrative or change some combinations of ways of distribution for example So uh they can tell us uh yeah it's good one but you have zero mention in like local Chinese press and uh it will be really suspicious to push such kind of product and we can we can fix it. So uh this is like really uh really important part of any marketing campaign uh road map. Oh, I messed up with buttons. So, yes, small small case study. Uh, it's kind of not um not regular on current market. Uh it's a gamifi gamify let's say type of project uh from tone ecosystem uh initially called 67 app because right now it's kind of really popular brain wrote me [snorts] and the guys came to us when they had like around 70k users in their uh telegram uh app and right now they have one 1.3 million monthly active users uh and also token launched on two chains BNB and tone uh with mcap more than 30 million. So uh what what we did for them we first of all test the narrative with uh with local influencers and alpha charts uh because we uh from the start we understood that telegram and tonica system is not something something you you want to have on the current market. [snorts] uh and you need to push it to another chain and the only chain that can have sim uh support and same kind of community is BNB and for BNB chain you for sure need to have some kind of Chinese community as well. So we tested few narratives with uh with local groups and we understood that we no need to focus on the small guys and uh community because this 1.3 million community for sure it's great enough and it's good for numbers but it's zero for the token and potential for the project. So we we understood that we need to absorb somehow whales charts with guys who plays institutional games usually and uh most of the uh holders of the token right now um they usually trade uh Ethereum and so on on purpose. Uh so uh we did it in two ways. Uh and um uh the also what we did is uh we designed airdrop for the users not before the token launch but after. So when they receive at least like one token, they they already have uh uh they already have some uh some thoughts that they not willing to sell it but they want to farm more and they want to uh help the community to grow. So that's why if you can check the chart uh you will see that the sell power is not so big at the moment and uh they still building right now uh they earning on traffic with this uh cheap community and uh reinvesting it into the charts to have like real good traction. Here is four ways to waste the budget. Uh you can you can you can see it I think on the most of uh on the most of uh what's it pro projects that has like minus 90% on their charts or likeus 90% on their uh user base. So impression without a pass uh you can have a lot of impressions not even bought ones but uh also like organic ones but without understanding how you will use these impressions and how you will convert it it's like waste of time go engagement uh you can see a lot of botish uh accounts right now on X Telegram and so uh that means nothing and they only only way when it can be uh it can be good to show some activity for the investors but I think it's not working right now anymore as well uh one of pushs uh for example uh like from time to time some projects coming to me and ask hey I have like 50k marketing budget let's please buy some influencers let's push a chart and so and I tell okay we can do it but it's waste of time we don't earn on it you don't earn on it uh we lose our reputation influencers lose their reputation because charts usually look like this or like nothing uh doesn't matter is talking chart or user chart uh it's just most of the time uh deal of like few case and that's it and uh fourth one is chasing every narrative I think you know at least few projects in your network [snorts] that's pivoting like every months or at least once in in even three months and uh uh it's uh really really bad in terms of community building cuz uh your current community or your current investors can't understand what are you doing right now and what you will do in like few months after uh here I presented founders checklist. You can photo this slide. Uh it's uh just kind of uh follow up of all my speech before so you can check it. Uh it's like you need to check which narrative does your product fit and you need to have it only in one sentence. uh you need to understand where does a convinced user will flow. Uh which single metric you can uh specify that you will focus on and uh what is the followup after first wave what this user base uh should do after they already converted. Basically that's it. If you need to check your narrative of your project please DM >> [applause]