This Is Why Crypto Has a Cult-Like Following
Aside from the utility and use cases, I believe that there's one main driver behind the crypto craze:
The brand storyline of crypto is so established that when someone first hears about it or researches it, it can draw people in and make them feel apart of something.
It's a push against the government, the things holding us back, whatever else people believe it is.
In a strong brand story, there's a hero, a villain and a problem that needs to be solved.
The government and the central banks have been painted as the villains and crypto and DeFi come in as the hero.
The problem crypto solves? Depends on who you ask but for the sake of this essay, we'll say it's a hedge against inflation and can provide more efficient money transfers.
A blueprint storyline.
And there's nothing wrong with a cult-like following. People who were bullish on gold were referred to as "gold bugs" so strong beliefs in an asset aren't entirely new.
Crypto is showing us that a strong community is a foundation for future brands and products - in any industry.