The Breakdown Polkadot Courts Controversy with Ad Spend
Jul 4, 2024
Controversy around Polkadot's $37 million marketing spending, debates on sustainability. Shift to community-focused marketing strategy discussed. Insights on fraudulent marketing tactics in crypto. Reflections on blockchain community amidst market concerns.
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FTX's Marketing Blitz
- NLW, former Head of Marketing at FTX, discusses their massive ad spending.
- They had campaigns with Tom Brady, stadium naming rights, and almost a deal with Taylor Swift.
Brand Building vs. User Acquisition
- FTX's goal was to rapidly increase brand awareness, especially in the US, to compete with Coinbase and Binance.
- Their strategy wasn't focused on short-term user acquisition but on establishing themselves as a major player.
Long-Term Brand Strategy
- Stadium naming rights and celebrity endorsements aren't about immediate user acquisition.
- They aim to build long-term brand recognition and association.