Polkadot becomes first blockchain platform to rebrand through a bounty program
Blockchain platform Polkadot announced that it has hired leading design agency Koto to give the blockchain platform a complete design revamp. However, all key decisions regarding the rebranding process will be driven and approved by the Polkadot community and its representatives on-chain.
Multichain blockchain platform Polkadot is rebranding
Polkadot, a multichain blockchain platform focused on cross-chain interoperability, is set to get a major brand revamp. And while blockchain rebranding usually isn’t newsworthy, Polkadot’s approach to establishing a new design definitely is.
Namely, the company has become the world’s first blockchain to put its community in charge of the rebranding. The design overhaul was first announced through a Polkadot Bounty Program, where Koto Studio, a global design agency, received the grant to come up with a new brand image for the blockchain.
According to the official Polkadot bounty motion, Koto will leverage the input and insights from the Polkadot community. To make the process more streamlined and efficient, the community will select four “representatives” whose input will be crucial in shaping the design of Polkadot’s brand.
Katie Butler, the head of marketing at Moonbeam, a major project set to launch on Polkadot, called the move “unprecedented,” saying that this is the first time all network participants can weigh in on the brand’s evolution. She will act as one of the community’s four representatives that will curate the output from Koto.
A practical way to utilize Polkadot’s governance
According to Koto’s official description of the bounty, the rebranding project will be divided into three phases—immersion, development, and delivery. The company proposed that the on-chain bounty of around $12,208, which is set to paid in Polkadot’s DOT token, only cover the immersion phase. The development and delivery phases will be better suited for off-chain coordination, the company said, adding that the Web3 Foundation has committed to funding these phases separately.
The initial phase will take around three months to complete, while it might take up to seven months before Polkadot’s new identity goes live, the company said.
Rosie Connors, the client director at Koto working on the Polkadot project, said that the company was up for a challenging task:
“The most exciting challenge for this project is creating a truly decentralized brand that empowers the Polkadot community to take ownership without it becoming unrecognizable or confusing.”
The company has previously worked with leading global companies such as Venmo, Airbnb, PayPal, Nike, and Sonos. It has also been involved in designing Discord, a major social community platform.