Cryptocurrency, the digital currency using cryptography to secure and verify transactions, has become one the 21st century’s most complex technologies. With nearly 2,000 different currencies out there the need to stand out is critical, so many are turning to animated video to get their most important messages across to audiences.
Binance, for example, one of the world’s top cryptocurrency exchanges, uses animated videos as a primary tool to educate students at their online academy. Ethereum’s YouTube channel has 130+ videos. And bitcoin.org’s explainer videos have over 11 million views to date. Here’s are the top reasons why video is so powerful for blockchain technologies:
Cryptocurrency is complicated
Core blockchain concepts like peer-to-peer networking, ledgers, nonces and mining are abstract concepts and can be difficult to explain in a few paragraphs of text. Sure it’s possible to write page after page of documentation to explain the ins and outs, but the odds of getting most of your audience to actually read through it all are low, considering that the average attention span for an online viewer these days is shorter than that of a goldfish.
A short explainer video provides the flexibility and conciseness to explain just about any blockchain concept – regardless of how abstract they may be. Bitcoin.org’s “What is Bitcoin” video uses simple illustrations to explain mining transactions:
Bitcoin.org’s homepage video shows viewers the concept of mining
Video helps people remember more
Video captivates, educates and motivates viewers unlike any other medium. And science points us to exactly why with Dr. Allan Paivio’s “Dual-Coding Theory”, which finds that when you stimulate only the auditory sense, people remember just 10% of information. When you stimulate both auditory and visual senses – as with video – you end up with a retention rate of 68%.
Video reaches more people
A well-optimized video can help you reach more audiences by improving search engine ranking and shareability. YouTube videos are indexed by search engines, helping you reach people filtering search results by video, for example. Having videos indexed is low hanging fruit that should be done. We see too many companies not uploading their videos to YouTube with proper metadata.
Optimizing your videos every few months can help you improve your chances of showing up on the coveted first few pages of Google search results. Check out our suggestions on the most important things you should be doing to optimize your YouTube videos.
Video does a great job of simplifying complexity, increasing retention rates and improving discoverability. They continue to explode in popularity for a number of industries, yet they still aren’t used by many cryptocurrency companies. For those with unique technologies that may require long-winded explanations, video is a powerful substitute. If you’re considering video, contact us to explore how Sharp Eye Animation can help, or learn more our blog.