{"id":542651,"date":"2024-07-03T14:30:03","date_gmt":"2024-07-03T14:30:03","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=542651"},"modified":"2024-07-03T14:30:03","modified_gmt":"2024-07-03T14:30:03","slug":"polkadot-under-fire-for-heavy-marketing-spend-amid-sustainability-concerns","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/polkadot-under-fire-for-heavy-marketing-spend-amid-sustainability-concerns","title":{"rendered":"Polkadot Under Fire for Heavy Marketing Spend Amid Sustainability Concerns"},"content":{"rendered":"

Polkadot is facing scrutiny after its treasury report revealed it spent $87 million during the first half of 2024, with $36 million of that going towards marketing and outreach.<\/p>\n

At the current spending rate, Polkadot has around $245 million worth of DOT tokens left that could last two years, said<\/a> head ambassador Tommi Enenke. The treasury will continue to grow as it gets 7% of staking rewards.<\/p>\n

DOT has plunged nearly 4% in the last 24 hours to trade at $6.15 as of 07:11 a.m. EST.<\/p>\n

Polkadot Under Fire<\/h2>\n

Over $36 million of the first half’s spending this year was used for activities including advertisements, meetups, events, and conferences. That triggered criticism on X, with X user @DefiIgnas arguing that Polkadot’s heavy marketing spend was futile as it remained “invisible” across social platforms.<\/p>\n

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Polkadot spent $37m USD in outreach during the first half of 2024, targeting new users, developers, and businesses<\/p>\n

• $10m on ads\/sponsorships
• $4.4m on influencers
• $4m on digital ads<\/p>\n

Yet Polkadot still seems invisible on X and elsewhere. pic.twitter.com\/pk0haLvuNm<\/a><\/p>\n

— Ignas | DeFi (@DefiIgnas) July 1, 2024<\/a><\/p><\/blockquote>\n