Backed by world-class researchers, proprietary methodologies, and global benchmarking data, we turn human behavior into actionable insight.
What we do
Brand trust is everything—especially in Web3. We help you understand how people perceive your brand, where you stand in the market, and what messages actually cut through. Then we guide you to craft campaigns that resonate, differentiate, and convert.
From spark to scale, we help you build products people want to use. We validate ideas, test features, and surface unmet needs—so you can prioritize what matters, launch with impact, and stay ahead of the curve.
Poor UX kills adoption. We uncover friction points, user behaviors, and emotional triggers that drive engagement, loyalty, and advocacy—helping you design seamless, satisfying experiences that keep users coming back.
Timing, targeting, and traction—all powered by insight. We help you size markets, define your audience, assess the competition, and shape go-to-market strategies that are rooted in real consumer behavior, not guesswork.
Be the signal in the noise. We help you lead with data, not opinion—turning original research into content that builds authority, earns coverage, and drives conversation in Web3 and beyond.
See what’s coming before the market does. We identify cultural shifts, behavioral trends, and early adoption signals—so you can future-proof your strategy and act before the opportunity passes.
Who we serve
We help exchanges and DeFi protocols understand what drives switching, loyalty, and trust—equipping you with the insight to grow users, optimize products, and lead in a competitive, fast-moving category.
Entering Web3 can feel like a risk. We reduce the guesswork. Our research gives corporates the clarity to act with confidence—uncovering how to earn relevance, credibility, and attention in this new digital landscape.
Adoption doesn’t happen by accident. We help protocols understand how users and developers engage, what holds them back, and what drives network growth—so you can scale your ecosystem with intention.
We dive deep into how people discover, use, and trust wallet and payment products. Whether you’re building for first-time users or scaling everyday usage, we help you make every experience smoother, smarter, and more trusted.
Whether it’s an NFT drop, a crypto marketplace, or a new consumer app, we reveal what motivates users to engage, convert, and come back. We help you turn novelty into real value—and attention into traction.
We help you build immersive experiences people want to play—and pay for. From player psychology to in-game economies, our insights power smarter design, deeper engagement, and more meaningful 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."
"We’d been looking for a partner to help us gain deeper and more actionable insights into our customer base, and also the wider market. We honestly could not be happier with what Protocol Theory have delivered. Their work is thorough, data driven and most importantly, actionable."
"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. "