Hunter’s new crypto app, Bags, ran UGC from last May to last June and completely failed.
This shows that even if you are considered a virality expert like Hunter, making something take off still requires a different skill set.
Crypto has two big challenges. First, it is very hard to capture attention and convince someone to enter crypto in the first place. Installing an app and buying memecoins is still a rough experience.
You have to convince the viewer that memecoins are worth investing in and that your app is the right place to do it. That is a twofold challenge.
Their top video barely reached 10K views, which highlights how difficult it is to connect all the pieces. Even with high quality content, including videos with fancy cars, building a strong and clear narrative remains hard.
They clearly tried, using many different hooks and publishing over 550 videos.
From what we have seen over the months, only a few teams succeed. There are two main approaches. One is to create a strong narrative around a specific coin, like DegeCoin did, which we have covered in an exposé.
The second approach is a two step funnel. You first get users to join a Discord that feels neutral or third party. Then you focus on building community, educating users, and converting them over time.
This is the funnel and flow Pump Fun now uses, after testing many short form marketing strategies to bring a more mainstream audience into memecoins.
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