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Last week the CEO of the Algorand Foundation Staci Warden announced through some cryptic tweets that the Algorand Foundation had hired a new chief of marketing, more details were to come in later days.
Today Algorand Foundation announces that their new chief of marketing Jessica Tsai Chin, the former WhatsApp and Nike exec. This is reported by PR Newswire. She is expected to have an highly positive impact on Algorands performance with her heavy-weight experience from marketing field.
"We need to move away from pure hype marketing and move towards a much more authentic, community and human-centered place, boldly leveling the playing field of who gets access to what." Jessica Tsai Chin said.
She went ahead and said that "Joining Algorand was a no-brainer for me" and explained more in detail why she thought so "It was a combination of the best-in-class technology, the professionalism of the team, and the overall promise of Web3 that drew me to this role" said Chin.
Previous Experience From Nike & WhatsApp
The new chief of marketing have previous experience from working at the American multinational corporation and sporting brand 'Nike' with global brand marketing. In addition, she was the head of brand for global privacy at the popular messaging app WhatsApp.
Tsai Chin has previous focus on sporting related events and she has stated that sports will continue to play a major part of Algorands marketing strategy.
"Many web2 companies are having a difficult time embracing a concept of decentralization and data ownership, but there's a huge opportunity to move in this direction" she said "I believe data privacy needs to be built-in by design and on by default.".
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| Image Source: Algorand Foundation |
Equivocal Feelings on Algorand Marketing Tactics
In the past the Algorand Foundation have both been praised and received criticism for their marketing strategies.
Among the more celebrated tactics Algorand turned Times Square green on Earth Day, in special event promoting its environmentally friendly features.
Nevertheless, many claim that Algorand isn't marketing itself well enough, despite sporting some of the most advanced blockchain technology in the industry, outperforming several higher-valued competitors in terms of development.
SOL up 150% From The Bottom, ALGO Almost 50%
During the recent bull run Algorands competitor chain, Solana, have seen a staggering 150% in price from the recent bottom in the end of December 2022. In the same time the price of ALGO increased by a 50%, seeing a fall in market cap in comparison to its blockchain competitors.
Solana's price increase may be explained as a normalization after a particularly large sell-off after the news about FTX going bankrupt.
