Innovation Should Be More Important Than The Marketing

Crypto is quite new, but there is going to be a time where we will stop calling it the new technology anymore. That would probably be in the next 5 to 10 years. While it’s still quite new, a lot of money is being spent on marketing. Which is great, marketing is one of the best ways to get attraction and get people to know the project. The more people know the project, the chances of high demand and that will lead to high chance of a successful project.

But unfortunately some projects have been focusing more on marketing than innovations. What use is the marketing if there is no innovation, that means a false hope was just advertised, selling a false dream. But just as much as innovation is important, marketing is also important, Hive is one pure example that has great innovation but low marketing. Hive has so many things that other platforms don’t have but yet still unknown to a lot of people. And we have a lot of projects with great marketing but low innovation.

This is why I think Hive will still live longer than them, or rather be more sustainable than them, because all Hive needs is time. One of the reasons I think Hive is lacking in marketing is because of its decentralized nature, there is no CEO pumping money into making sure their company is seen to the world. But other projects who claim to be decentralized are not really decentralized, as there are silent CEO who are one way or the other benefiting from the projects as major share holders, or should we call them venture capitalists.

One crypto exchange company who have spent a lot on marketing is crypto.com, I can’t really tell how strong their innovation is, but I know for sure that it’s not as strings as the Hive blockchain and it’s been spending a lot of money on marketing. The company is extremely centralized, hence they have spent over 1 billion dollars on marketing, spending a whopping $750 Million on staples centre to change the name from staple center to crypto.com arena. This was great marketing, they also spent $100 Million on Matt Damon crypto advert and some on UFC partnerships.

But we saw how that turned out when they started cutting off the perks that came with using their cards. This shows that too much money was spent on marketing than what could sustain their innovations. Their crypto cards used to be the most outstanding features of using the platform, but now that most of it has been cut off, what next?

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