Polkadot Faces Community Backlash Over $37M Marketing Spend
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Polkadot’s $37M marketing spend sparks community outrage, failing to deliver expected results, calling for a strategic overhaul.
Polkadot maintains a $244.6M surplus despite the backlash, with assets across three chains and extended loans to DeFi protocols.
The community demands that Polkadot revamp its marketing strategy amid failed ROI and influencers advise against DOT investments.
A Unexpected $37 million was spent on marketing in the first half of this year, according to Polkadot’s financial report. This is a portion of the entire cost of $87 million.
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The society is furious because the large sums of money spent have not produced the desired effects. The financial report for Polkadot also shows that, given the present burn rate, their funds will endure for an additional two years.
Polkadot possesses cash and cash equivalents totaling 29 million DOT, which is the same as $188 million. DOT, USDT, and USDC are among them; the Treasury can use them right now.
These assets are distributed across three chains: 23 million DOT ($148 million) on the relay chain, 6.2 million DOT ($40 million) on AssetHub, and 79,000 DOT ($505,000) on Hydration.
Expenditure Breakdown and Community Response
Polkadot’s marketing expenditure included advertising, events, business development, and media production. Advertising alone cost $21 million, with $10 million spent on sponsorships.
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Notably, $6.8 million went to a prestigious soccer club sponsorship and $1.9 million to sponsor race car driver Conor Daly. Influencer marketing costs $4.9 million through agencies like EVOX, Lunar Strategy, Chainwire, and Unchained. Digital ads via CoinMarketCap and EVOX totaled $4 million.
The community’s backlash focuses on the perceived lack of return on investment. They argue that the marketing spending has not delivered the anticipated results.
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