Cardano gains marketing momentum following internal restructuring
Cardano has operated with a relatively small marketing profile, especially in contrast to projects like TRON. Although some of the reasons may be ideological, part of it may have to do with internal conflicts within the arm of Cardano responsible for marketing. Now, after much-needed restructuring, it appears Cardano is gaining marketing momentum.
Alongside IOHK and Emurgo, the Cardano Foundation is one of the primary governing bodies for Cardano. One of the Foundation’s primary responsibilities was marketing and driving brand awareness to the project. And, up until 2019, it largely failed according to the community.
The Foundation was embroiled in controversy as it failed to meet most of its self-described targets. These failures resulted in community outrage. Petitions called for the removal of Foundation chairman Michael Parsons and gained thousands of signatures.
And, both Cardano founder Charles Hoskinson and Emurgo CEO Ken Kodama agreed, and Michael Parsons and the Foundation was restructured. Now, it seems the efforts may be paying off. For more information on the controversy read on here.
Building Brand Awareness
From its position as a relatively lowkey project, Cardano has steadily been gaining the enthusiasm of the crypto community.
Using web traffic as a proxy for interest, traffic for cardano.org, the project’s main website, has steadily increased from an estimated 200,000 to 400,00 between February and April of 2019 according to data from SimilarWeb.
Over that same period, websites for TRON and EOS showed stagnant growth. Tron.network’s estimated visitors grew from 270,000 to 280,000, while eos.io grew from 210,000 to 230,000.
Growth on other social media platforms for Cardano has also been strong. From Jan. 1st, 2019, the r/Cardano subreddit grew from 50,000 to 73,000 subscribers, a 46 percent increase, according to data from Reddit metrics.
Twitter growth for the crypto has also accelerated, with @Cardano going from a six-month average of 1,000 new followers per month to 2,550, a 155 percent increase, according to data from Social Blade.
More Transparency and Community Interaction
On May 7th, Cardano announced that it will be engaging in efforts to improve its engagement with the community and increase the transparency of the development process. Some of the new commitments include:
- Cardano.org roadmap overhaul with more details on releases and clearer ways to track development progress
- Internal status reports and recorded product demos made public and delivered to the community weekly
- Ask Me Anything (AMA) sessions with high-ranking Cardano employees to answer community questions monthly
Instead of marketing, and in stark contrast to other cryptocurrency projects like TRON, Cardano seems to be more focused on research and product development. However, on the heels of several heavy-hitting announcements, the project has been increasing its marketing presence.
Cardano’s new roadmap following the completion of its Byron phase of development, the April IOHK Summit in Miami, and Cardano’s recent enterprise blockchain collaboration with the Ethiopian government all represent a reinvigorated push to gain community awareness. In combination with changes at the Cardano Foundation, Cardano may begin gaining users at a faster clip.
As community interest grows, adoption of Cardano and its ADA token may follow.
At the time of press, Cardano is ranked #12 by market cap and the ADA price is down 4.71% over the past 24 hours. ADA has a market capitalization of $1.04 billion with a 24-hour trading volume of $88.62 million. Learn more ›
Cardano7 Nov at 2:21 am UTC
At the time of press, the global cryptocurrency market is valued at at $241.47 billion with a 24-hour volume of $112.09 billion. Bitcoin dominance is currently at 68.14%. Learn more ›