Cryptoinfluencer Ignas pointed out that Polkadot Treasury has spent $37 million on outreach in the first half of 2024. This category includes ad integrations, partnerships, shilling at opinion leaders and other marketing campaigns. However, Polkadot still seems invisible on X and other platforms, he noted.Now I understand why Polkadot has been featured on many crypto sites in the past few months. This could be the result of Polkadot's marketing campaign to promote its technological advancements and ecosystem, which has helped Polkadot gain investor attention and make it easier to re-enter this cycle. I hope this will be an effective investment and help Polkadot stay relevant in the upcoming bull run, especially as Web3 comes back stronger than in the bull run 2021.
Ignas also estimated that given other expenses (totaling $86 million in six months) and the pace of spending, the liquid portion of the project's coffers would be depleted in two years.
Now I understand why Polkadot has been featured on many crypto sites in the past few months. This could be the result of Polkadot's marketing campaign to promote its technological advancements and ecosystem, which has helped Polkadot gain investor attention and make it easier to re-enter this cycle. I hope this will be an effective investment and help Polkadot stay relevant in the upcoming bull run, especially as Web3 comes back stronger than in the bull run 2021.Unfortunately, we haven't seen an impressive price increase for DOT after its promotion on Media. In fact, DOT price has unexpectedly retested the crypto winter's dip, surprising investors. I know Polkadot has a lot of potential, but the DOT price might make investors give up and seek opportunities in other ecosystems.
DOT has been on my watchlist since 2021 and Polkadot is one of the platforms that I believe can continue to exist due to its effective solution to a real need in the blockchain world. If Polkadot can operate at its full potential, I believe DOT will reach a new ATH in the $200 range or higher in the next year.
Well I appreciate the fact that the treasury is transparent, but doesn't it seem a bit weird for a cryptocurrency foundation to be spending all that money on marketing? Other foundations for other coins are spending that amount on open-source developers to make sure they keep contributing. So what exactly do they expect paying news outlets and fast talkers to do for them?I believe this expenditure is justified for Polkadot. Technologically, Polkadot has had a solid foundation since 2021, building upon its development from 2017. What Polkadot lacks is effective marketing to reach potential users and investors. DOT price has significantly disappointed investors due to its weak price chart performance.
So what exactly do they expect paying news outlets and fast talkers to do for them?
Hype? Attract buyers? Do something!Well, it's unfortunate that despite being very well-known for Web3, Layer-0, and Parachain auctions during the bullrun 2021, Polkadot hasn't had an effective marketing campaign to regain its popularity in the market. Perhaps it's precisely the failure in marketing that has caused DOT price to decline, or maybe whales are dumping DOT to accumulate a large amount of tokens before the DOT price grows.
When 10 cents on top of what the price is gets you more in your tokens value than you spend on advertising it's worth doing so.
Unfortunatly for Polkadot is not working!
They spent those in Q2, price went from $9 at the start of April to $4.5 now, less than 10% from the ATH!
Hype? Attract buyers? Do something!Well, it's unfortunate that despite being very well-known for Web3, Layer-0, and Parachain auctions during the bullrun 2021, Polkadot hasn't had an effective marketing campaign to regain its popularity in the market. Perhaps it's precisely the failure in marketing that has caused DOT price to decline, or maybe whales are dumping DOT to accumulate a large amount of tokens before the DOT price grows.
When 10 cents on top of what the price is gets you more in your tokens value than you spend on advertising it's worth doing so.
Unfortunatly for Polkadot is not working!
They spent those in Q2, price went from $9 at the start of April to $4.5 now, less than 10% from the ATH!
I told you, just like those empty cities in China and 1 sqm Malls, you can build whatever you want and make it as shiny and attractive as it might if people don't actually need them it's no longer innovation it's a buzzword. When you step one foot away from the crypto space you will realize how little the world cares about all these, while initially crypto was becoming accepted and adopted those solutions offer little no nothing to the average Joe.I believe we can still have high hopes for Web3 given its numerous advantages over the current Web2. Blockchains are maturing, and DePIN is becoming more robust than ever. Polkadot still has the potential to rebound and lead the Web3 trend if the demand for Web3 services like trading, information search, and gaming grows.
Poepls are more interested in making $5 from tapping a phone than all the vapourware web3 comes packed with. ;)
Millions of $ have been invested, we need to monitor their impact on the development of the Polkadot ecosystem in this cycle. Since I own some DOT, my expectations might be a bit more optimistic than the current market sentiment ^^