Powered by proprietary data, global research at scale, and industry-leading expertise, we transform human behavior into evidence that builds brands, products, and growth strategies that endure.
What we do
We cut through noise with data that shows how people perceive your brand, where you stand, and what messages win trust—then guide you to campaigns that resonate, differentiate, and convert.
We validate ideas, test features, and uncover unmet needs—so you prioritize what matters, launch with confidence, and scale with products people actually use.
We reveal friction points, emotional triggers, and loyalty drivers—helping you design seamless experiences that keep people engaged and returning.
We size markets, define audiences, and map competitors—so your GTM strategy is rooted in consumer evidence, not assumptions.
We transform original data into bold perspectives that earns attention, builds authority, and makes you the voice people listen to in Web3 and beyond.
We surface cultural shifts, behavioral signals, and adoption patterns—so you act early, future-proof your strategy, and lead when others follow.
Who we serve
We show what drives trust, switching, and loyalty—equipping exchanges and DeFi protocols with the clarity to grow, optimize, and lead in the most competitive category in Web3.
We give corporates the evidence to enter Web3 with confidence—showing how to earn relevance, credibility, and attention in this new economy.
We diagnose adoption barriers and growth levers—so you can expand your ecosystem with intent, not chance.
We uncover how people discover, trust, and use payment tools—helping you scale from first-time use to everyday utility.
We reveal what drives engagement and conversion—turning novelty into real value and sustained traction.
We decode player psychology and in-game economies—fueling smarter design, deeper engagement, and durable retention.
Our latest thinking
Get early access: The Next Billion Users Report 2025
Based on insights from over 2,600 consumers across five major markets, The Next Billion Users Report 2025 reveals the key drivers and barriers to crypto and Web3 adoption — providing brands with a data-driven blueprint for unlocking the next wave of growth.
Reports & Whitepapers
"Rarely am I floored but Jonathan and Alistair of Protocol Theory might have provided me with one of the most impressive, thorough understanding of the Crypto ecosystem."
"Working with Protocol Theory was an absolute pleasure. The quality and depth of their analysis exceeded our expectations, and the results spoke for themselves; the report was exceptionally well received by the press, generating widespread interest across the broader Asian markets. We look forward to collaborating with them again in the future."
"The Protocol Theory team goes beyond numbers to deliver insights that are clear, actionable, and strategically meaningful. It’s rare to see research at this level—engaging to read, highly relevant to the industry, and beneficial for its future direction. We are grateful for the depth of thinking and the quality the team delivered."
"The Protocol Theory team has been exceptional. At every step of the way they have brought a level of knowledge and experience to their questions and approach that is unparalleled. We are delighted with the work and know the outputs are helping us develop products and messages that will delight both current and future customers. "