PR veterans Afik Rechler and Tal Shmuel Harel are the cofounders of Chainstory.
Israel is a Web3 powerhouse and a hub for many entrepreneurs. For some, the journey began in the early days of Bitcoin
Bitcoin
Chainstory, a crypto-focused public relations agency based in Tel Aviv, prides itself on its unorthodox, results-driven approach to PR and is built to capitalize upon this thriving blockchain scene. But the company got off to a rocky start. PR veterans Tal Shmuel Harel and Afik Rechler were about to launch when Hamas attacked Israel in October 2023, and the two cofounders suddenly found themselves called back to military duty for 5 months.
“Not knowing how long we would both be drafted for, the launch of our new company faced numerous hurdles,” Harel said in an exclusive interview with me. “All we knew is that we were fully motivated to keep going.”
Of course, Harel and Rechler weren’t alone in having to set aside their personal ambitions. Many companies were forced to operate in “war capacity mode” as employees were called up to the military reserves. As a result, they had less bandwidth to take on new projects and deliver for existing customers.
Israel’s more established tech companies were able to keep their heads above water. The publicly-listed enterprise software company JFrog notably put into place a continuity plan within hours of the attacks, minimizing the disruption to its business even as more than 100 of its 800-plus Israeli-based employees were called up for military service.
But for other companies, like data integration startup Rivery, the situation was much harder. Backed by more than $48 million in investment capital from a host of U.S. and Israeli venture capital firms, they suddenly found themselves leaderless. Founder and CEO Itamar Ben Hemo, who fought as a reservist, was injured and for weeks ran the company from a laptop while in his hospital bed.
Rechler and Harel’s launch of Chainstory was delayed when they were called to serve in the military. … [+]
Following its delayed launch, however, Chainstory hit the ground running. The company already has played a part in spreading the word about the latest developments in the country’s “digital shekel” project on behalf of one of its earliest partners, Masterkey VC.
“As a VC that actively invests in early-stage startups, it’s important for us to get our name out there and to demonstrate our expertise and authority in different areas in the crypto industry,” said Sara Eyal, VP of business development & investor relations at Masterkey VC, in an exclusive interview with me. “We’ve had several opportunities to work with Chainstory on PR, and I can confidently say that they’re terrific, fun to work with, and most importantly – they deliver.”
David Wigger, managing director at another investment firm, LIAN Group, which builds and funds successful companies in several industries, added, “Chainstory did a great job providing us with engaging interviews and crypto industry-related commentary opportunities on topics that are important to us.”
Chainstory’s early traction has been aided by the need for Web3 companies to overcome serious stigma attached to the crypto industry, which is still widely perceived as a haven for scammers and fraudsters of every shape and size. “Although the crypto industry is known for the incredible enthusiasm of communities that have grown up around projects like Bitcoin and Ethereum
Ethereum
In addition to these problems, Harel believes the crypto industry’s overall PR game has been in decline in recent years, partly because the aforementioned scammers flood wire distribution services with unvetted press releases in order to manipulate investors. Another problem that needs addressing, he says, is that many crypto companies fail to recognize those press release distribution services aren’t always as effective as they think.
Also, most PR firms operate with a traditional monthly retainer model. This might work well for companies with lots of news to share, but it can be less effective for the huge number of crypto firms that don’t. Rather than committing to a certain timeframe, Chainstory clients sign up for a set amount of deliverables, which guarantees they’ll receive the organic media attention they need to boost brand awareness in a strategic way.
“I’ve spoken to dozens of Web3 founders, builders and even chief marketing officers in my career in the crypto industry, and surprisingly, most of them have very little idea of what they’re actually trying to achieve in terms of PR and comms,” Rechler said in an exclusive interview with me. “So when you bring up some of their pain points and explain how you can solve these problems using strategic PR and content marketing, it helps them feel more confident about giving it a try. They appreciate the transparency.”
The latest move of Chainstory is to partner with TheDefiant news reporter Pedro Solimano on a podcast series called Beyond The Beat. With this initiative, Harel and Rechler aim to step up the crypto industry’s communications game by helping Web3 founders, C-Level executives and PR enthusiasts to learn the ins and outs of crypto media. “Beyond the Beat is our way of giving back to the crypto industry,” Rechler says.
Harel and Rechler’s vision with Chainstory is to bridge the gap between visionary blockchain leaders and the PR and comms guidance they need to thrive. “It’s not just about shaping the future of technology, but also about empowering those who will lead it,” says Harel.
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