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A Guide to Handling Fud

By Jeffrey Maganis

A Guide to Handling Fud

What is FUD?

Fear, Uncertainty and Doubt. With the recent market situation, I am sure you’re seeing more FUD than ever. This happens during every down time in the market. With the current negativity in the market’s sentiments, this guide will hopefully lend some clarity into how to effectively dismantle the FUD.

Effects on FUD

FUD-ing in your community can bring a lot of negative impact. It can be seen as a deadly tactic employed by competitors or whales that want to lower the value of a project by persuading investors to support their projects, preventing your project from thriving.

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Guide to Combating FUD

Social media will be your project’s first line of defense when it comes to combating FUD. Your project/organisation should deliver a reliable and trustworthy reaction to counter FUD. Any questions or doubts that the community has should be addressed almost immediately. When dealing with FUD, trolls like to add oil to fuel and you should have line up more content to let your community know that you are still following through the roadmap.

The importance of community managers – The community should be the primary response mechanism in all matters FUD, by having good community managers can help to drive it down to the community. In a situation where a member is FUD-ing the project, the community manager should first of all warn the individual, ban and delete such FUD comments and address issues and proof value of the project to the user.

Communication is extremely important as users feel impatient and everyone in the community demands answers as they want to be constantly updated on each and every step of your project’s progress. In times of uncertainty, organizations should plan to reach stakeholders more frequently to reduce anxiety.

Projects should uphold honesty and transparency. Organisation can learn from Axie Infinity’s approach of handling FUD. Organisations should as much as possible be honest and transparent to their members, this helps to combat FUD to a large extent, as there is nothing hidden. An example would be Axie Infinity where the play2earn game started during the bear market and large attention only drew to them in the previous bull run. After $SLP price tumbled, there was a lot of FUD in the community. With a notable influencer constantly FUD-ing on and off.

I made a video 4 days ago and I received a ton of hate for it, I'll admit it doesn't really feel good when I'm trying my best to look out for my community and I get hated on.

I don't regret it though, I saved a lot of people money on $SLP. To me that is a success ❤️ pic.twitter.com/jwlZch6Uko
— CryptoKing 👑 (@CryptoKing_NFT) May 15, 2022

But the Axie team did not remain silent. Jiho who constantly tweets about Axie Infinity (although he constantly gets slammed by the community) still continues to have faith in what he is doing and constantly provides updates within the gaming ecosystem.

⚔️Axie: Origin is live on Android mobile devices!

Remember this is early access, we need to do more testing before we're able to transition to Global launch!

Download 👇https://t.co/hJRywDUP7J pic.twitter.com/FFMGrf2s7y
— The Jiho.eth 🦇🔊 (@Jihoz_Axie) May 12, 2022

Also to add, not all FUD are a bad thing. Azuki’s trading volumes spike after its creator admitted to failed projects and users claiming that the creator FUD-ed his own project.

•Bull or bear, Azuki is building towards the future of web3. We're in it for the long term.
•Builders need to experiment for web3 to challenge web2.
•Azuki is built on learnings from creating Phunks & other projects. This taught me to lead, not follow.https://t.co/Z2enFov8m9
— ZAGABOND.ETH (@ZAGABOND) May 9, 2022

Next, we want to let the Azuki community know how important they are to us. We are dedicated to improving transparency & communication. As a first step, we are setting up calls with community groups to hear your concerns. We welcome your feedback on what else we can do.

5/x
— ZAGABOND.ETH (@ZAGABOND) May 11, 2022

I know that it’s been a rough week for us all, but we are still as optimistic as ever about the future of Azuki. You guys are the reason we keep building.

We rise together.
We build together.
We grow together.

⛩️

6/x
— ZAGABOND.ETH (@ZAGABOND) May 11, 2022

After this saga, some users are still buying Azuki NFTs because the floor price has dropped. Believing in its future and the potential of the project which the project has instilled into their community.

Handling FUD in Your Organisation

In many situations, and particularly when FUD is based on certain cognitive biases, relevant debiasing techniques can be used in order to reduce those biases, which in turn could reduce the FUD that’s being experienced. Identifying the situation causing FUD. FUD can be positive or negative, as such the situation causing FUD should be identified so as to know how to offer a solution or handle FUD. Ask others for their perspective on how they would solve the situation. In handling FUD, the opinion of others should be put into consideration, this will enhance taking a proper step without being biased.

Engage users who are “negative or toxic” and get their perspective as well. By taking an all-rounder feedback can help you look at things with an overview.

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Summary

Hiring a crypto marketing firm can save you a lot of time and money that you would otherwise spend experimenting with different methods that may or may not succeed. A professional cryptocurrency marketing firm like Crowdcreate, on the other hand, will use a tried-and-true marketing plan to take your business from obscurity to prominence in the digital world, allowing you to raise more cash or attract more investors to acquire your project.

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Author

About The Author

Jeffrey Maganis

I’m the founder of Crowdcreate, a leading marketing & consulting agency. We’ve helped grow some of the most successful businesses around the world from B2B to B2C, and across tech, finance, and lifestyle. Crowdcreate is an award-winning full-service consultancy winning multiple awards such as “Top Marketing Firm” by Forbes, CoinBureau, and Clutch. Crowdcreate also runs one of the largest networks of founders, investors, influencers, and creators. Follow me on Twitter and connect on LinkedIn to suggest updates to the list.

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