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Crypto’s annual expenses report revealed fried marketing levels at Sam Bankman- I have returned to that, boys!
Polkadot, a Blockchain platform itself in the market, has received $ 8 billion ($ 11.9 billion), the treasury report for the first half of 2024 issued by the members of the platform community.
Who are these vigilant members of society, ask? Polkadot has a code called $ Dot. Those who hold $ Dot have “Governance Authority”. This means that they have the right to vote on the proposals offered by other owners of $ Dot.
Granting carriers of cryptocurrencies and other privileges is a fairly common practice in the encryption space. Therefore, Polkadot is one of the many platforms that do this.
Polkadot loves good “communication”
However, return to the story. Polkadot community members revealed the details of spending on the company forum. For beginners, the Bolkadot Treasury spent $ 87 million ($ 129 million) in the first half of 2024 alone.
Of 87 million US dollars (129 million US dollars) spent, 37 million US dollars ($ 55 million) were placed in a category called “awareness”. What does “awareness” mean? Well, according to Polkadot, this means pushing the main opinion leaders (KOLS) to promote the company and the brand its logo in different places. These KOLS consisted of encryption effects on YouTube and X.
According to community members, the influential marketing strategy “successful” looked at first glance, with a total of 15 million views of the video and 570,000 total likes. But a deeper analysis indicated that the influencers were “participating in deceptive practices”, a member of Polkadot Books in the forum On behalf of society.
The member added: “Many KOLS inflame the numbers of followers, the promotion content, and the responses, which leads to a high cost of high costs.” Some KOLS even directly to the top of the repeated tweets that were created. Yixes! It gives the scandal of fake robot followers in Kardashian Jenner. But who was surprised?
For perspective, this amount will be sufficient to cover 150 dollars in the African Union Wonderful meal of ten dishes in Hobart Myself, every day, for 2,356 years of my life. I will have died since then so that my children and my grandchildren could enjoy it too.
Logo at $ 710,000
A More collapse Among the “awareness” costs of Polkadot, it showed that it paid $ 418,000 ($ 711,000) to Crypto Tracker Coinmarketcap to display the mobile logo on Coinmarketcap. This is what it seemed:
A deep and mobile artistic piece that deserves money, if you ask me. An expensive animation logo is “the first application of its kind” according to the Polkadot Public Budget, so it is a leading matter.
By comparison, the Polkadot content deal was made with the encryption publication During the same period, it costs much less. For research reports, entries sponsored, newsletters and data visions, the bill reached 138,600 USD ($ 206,000).
Mathematics encryption ðŸ§
Polkadot plane “brand”
Perhaps more proud by the responsible Polkadot people is $ 180,000 ($ 268,000) who spent the company’s logo on a fleet of European -based private aircraft. and invoice I read to Bolkadot: “A special fleet of private aircraft in Europe will be described as the Bolkadot logo on the fuselage for a period of six months. In addition to generating awareness between a targeted group of elite, we expect social media stakes from various celebrities using the fleet.”
… I am waiting. This is still much lower than the animation logo!
“We hope that CMO will arrive at the Mile Hi club with this societal contribution,” books X.
What now?
At the time of writing this report, the price of $ DOT code decreased by 8.3 percent from $ 6.59 ($ 9.80) to $ 5.86 ($ 8.70) over two days. Bolkadot does not look like because of online criticism. Amid the controversy, the company Share a job I read that: “General Motors for all marketers and KOLS ☀,” apparently indicates a general violent reaction against the Polkadot decision to pay Colls.
Full breakdown of the Polkadot’s public budget, including encryption transactions, is available in Google Blacks here. VC money returned to that. We love encryption governance.
