Well, well, well. Looks what the funky winds of reasonable logic diatribes brought to us again?
πππ That line is simply ... beautiful. πππ
"... reasonable logic diatribes ..." -- I wish I'd thought of that. Apropos.
One would think that logic and strategic planning would be a good thing. But, in the CryptoSphere, everything seems to get turned on its head. But that's all about to change. Indeed, I predict that 2022 will be the Year of the Great Reckoning.
For example, FTX.US, an extremely profitable crypto derivatives exchange that has launched an NFT marketplace, has recently signed Tom Brady (football), Stephen Curry (basketball) and Shohei Ohtani (baseball) as athletic endorsers. They also bought the naming rights for the stadium in which the Miami Heat play. They've also entered into a strategic marketing alliance with Mercedes and will release a Super Bowl commerical in early 2022.
Crypto.com responded by buying the naming rights for the stadium in which the LA Lakers play (formerly the Staples Center) ... for $700 million!!! (That's almost Hive's entire market cap).
Coinbase (publically traded) will now undoubtedly respond in kind.
These are classic (and very expensive) real world marketing initatives and they are extremely aggressive. Here's the point: the CryptoSphere is growing up and the barriers to entry will rapidly become much larger than what they once were. What worked in the past won't work in the future. Analogously, smaller blockchains (like Hive) are bragging because they possess top-of-line bi-planes while The Great Powers are fielding flights of F22 Raptors.
Firepower matters.
The future of crypto is entirely dependent upon the ability of blockchains to attract mainstream users. To become "household names." In this Great Game, Hive will not be able to directly compete against the Great Powers. It simply will not possess the size or scale. The only way it will survive is if it finds a way to ride the coattails of a Great Power.
And hence my post.
Quill