Polkadot, an interoperability blockchain project, has reportedly allocated a significant amount of funds for outreach and marketing. The project’s latest treasury report reveals that $37 million was spent in the first half of 2024 to generate interest in the Polkadot ecosystem.

The report explains that the $37 million was specifically used for outreach activities, which aimed to attract new users, developers, and businesses to the ecosystem. These activities encompassed various aspects such as advertising, media coverage, online and offline community building, events, conferences, and business development. Advertising accounted for half of the outreach effort, totaling $21 million.

The project also allocated $10 million for sponsorships, including a $6.8 million sports sponsorship deal with a prestigious soccer club, as well as sponsorships for race car driver Conor Daly ($1.9 million) and e-sports tournament organizer HEROIC ($1.3 million).

Influencer marketing accounted for $4.9 million, with agencies like EVOX ($2.2 million), Lunar Strategy ($1.3 million), Chainwire ($490,000), and Unchained ($460,000) handling the influencer partnerships. Additionally, $4 million was spent on digital ads, with placements on platforms such as CoinMarketCap ($1 million) and EVOX ($900,000).

According to Polkadot developers, the treasury’s resources are derived from DOT tokens collected through transaction fees and normal network operations. They emphasize that any DOT holder can propose a treasury spending plan to support projects and activities that benefit the network.

As of now, Polkadot is trading at $6.39, experiencing a slight increase of more than 1% in the past 24 hours.

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