Sure, Paris Fashion Week might be over, but in case you’re wondering – yes! Crypto is still a big trend just like animal print, chunky ‘dad’ sneakers and biker shorts (and biker shorts are BIG! Just take a look at the latest Chanel collection and Kim K).
So, what’s IN and what’s OUT in the fashion and crypto PR worlds?
IN: Environmental crypto projects, faux fur & animal print
We’re definitely not wearing animal fur anymore, but animal print made a huge comeback this year, including faux fur for the upcoming winter season. We’ve learned that blockchain can do a lot for the environment, too. Our PR agency is currently working with companies like Veridium, who has partnered with IBM and Stellar to reduce the world’s carbon footprint, as well as Soluna, the company harnessing the unlimited potential of sustainable energy.
OUT: ICOs & bomber jackets
Last year, during ICO fever, everyone was wearing bomber jackets and PR was all about promoting ICOs (while remaining aware of the scammy ones). Well, that’s so 2017! Both overused trends belong to history. A recent study prepared by ICO advisory firm Statis Group revealed that more than 80 percent of ICOs conducted in 2017 were identified as scams. Nevertheless, ICO projects in the first half of 2018 have already crossed the $10 billion mark. This is good news, as serious blockchain projects introducing new solutions and technologies are being able to attract important investment firms and achieve ‘big finance’ interest.
IN: Blockchain & chunky “dad” sneakers
The “dad” sneakers have been around for years, showing no signs of slowing down. It’s the same for blockchain technology, as a coin PR agency we monitor the news on a daily basis, and crypto detractors are all over the media, but even the experts who are firmly against the rise of Bitcoin can’t deny the importance of blockchain as THE technology transforming every industry we know so far. If you never thought you’d see brands like Balenciaga taking the runway with models wearing ‘ugly’ dad sneakers, you might soon as well be dropping bank transfers to embrace blockchain transactions.
Out: Crypto trading & skater sneakers
I’m sorry to all Avril Lavigne fans, but the skater sneaker style has been overtaken by the ‘dad’ shoe style explained above. By the way, for those other millennials aspiring to be the next Wolf of Wall Street, a new research presented at the Financial Crypto 2018 conference stated that “mining a new altcoin may provide better returns than simply speculating by buying cryptocurrencies on an exchange.”
IN: Security Tokens & Cher’s “Clueless” look
Security tokens were created to revive the unregulated utility token market. By the end of 2017, the crypto space was suffocating, as cryptocurrencies prices were dropping and small investors were cashing out due to the volatility of the market. In the meantime, sudden interest from financial institutions was developing. Security tokens were designed for the arrival of institutional money and take the place of stocks in the world of cryptocurrency. They also provide the regulation and long term security crypto projects need to further develop. This crypto revamp reminds us of another fashion trend that has reinvented itself again. We’re currently witnessing a revival of Cher’s famous yellow checkered look from the 1995 movie “Clueless”, with a modern twist renewed by brands like Versace and Michael Kors.
OUT: Utility Tokens & Justin Bieber’s “Fear and Loathing in Las Vegas” look
When ICOs where all the rage, it was all about utility tokens. Utility tokens were issued to finance developments of upcoming crypto projects, and allowed token holders to buy different company products or services. But the price of utility tokens only rise if a company’s developments are in high demand, so last year when the ICO boom started to slow down and prices fell, people decided not to hold their tokens and started to cash out. As a result, many crypto startups “lost” the money raised to invest in their projects. This is why “utility tokens” are now out, and in case you wonder why the latest Justin Bieber look is also out? Well, judge for yourself…
IN: Institutional investors & biker shorts
Wall Street big players are embracing crypto like major fashion brands are embracing biker shorts. Let’s face it, everyone might be talking about “the next big thing” on the news or the internet but it isn’t official until a big name does it. Biker shorts were all over Instagram but last week, Chanel and other brands like Miu Miu and Mugler finally took the trend to the runway. The crypto space is behaving in a similar way; as a coin PR agency we’re starting to notice more and more interest from institutional investors and that’s all over the media! JPMorgan is reportedly “looking into” Bitcoin, blockchain technology and crypto assets in general, Goldman Sachs revealed that it would be making BTC futures markets for its clients and Morgan Stanley, one of the largest banks in the world, has reportedly begun work on Bitcoin swaps, a form of financial derivatives.
OUT: Non-purpose crypto projects & the “cold” shoulder
Last year it seemed anyone could create a successful crypto-project; a famous example is “Dogecoin”, a coin created after a tweet that made fun of the famous meme and went viral. Introduced as a “joke currency” in 2013, Dogecoin quickly developed its own online community and reached a capitalization of US$60 million in January 2014. But according to Dogecoin inventor, Jackson Palmer, “2017 marked the year that cryptocurrency stopped being about technologically innovative peer-to-peer cash and instead essentially became a new, unregulated penny stock market.” 2018 finally marked the arrival of institutional investors into crypto, where serious blockchain projects can’t afford being associated with “joke” projects or “scammy” ideas that could potentially harm real and long term investments. Jackson Palmer understood this and ditched its coin joke as we’re ditching the “cold” shoulder trend: “The exhaustive mutation of this very specific look has meant it’s been done to death.”
Fashion reinvents itself as trends mutate and evolve every year; blockchain does it as well. Pessimists have been trying to predict the death of cryptocurrencies for a long time, but at this point, with more interesting projects firmly developing, and the technology and big finance jumping on the bandwagon, we can confidently say that crypto is here to stay.
