Cardano is the highest-ranking crypto brand

Cardano is highest-ranking crypto brand in the Top Brand Intimacy 2022 report. The surprising thing is that Cardano has a higher rating than Bitcoin. Almost every person on planet has heard of Bitcoin while Cardano is still unknown to the general public. What is it that has earned Cardano such a good rating?!

About Methodology

The MBLM Brand Intimacy Study focuses on the biggest brands based on emotion. The rankings use technology tools such as artificial intelligence to assess how consumers connect with the brands they use and like. A strong emotional connection between users and the brand is a key requirement and the basis for the report. The team believes that the higher the emotional connection, the more powerful the relationship with the brand. Positive feelings can be analyzed based on language used during communication.

The strength of the bonds is assessed. The depth and degree of intensity of the intimate relationship with the brand are revealed and measured. During the process of building a relationship with a brand, certain phenomena can occur.

Sharing occurs when the person and the brand engage and communicate. This leads to knowledge sharing, which allows users to understand exactly what the brand is and its future direction. Both parties make sure they understand each other and share the same vision.

Subsequently, a certain level of bonding can be formed and the relationship between the person and the brand can become more meaningful and committed. This is the acceptance stage where trust is established. In this stage, fusing may occur. This requires the person and the brand to be inextricably linked. The identity of the person and the brand begin to merge and become a form of mutual realization and expression. The depth and degree of intensity of the intimate relationship with the brand are measured.

Results

Disney, Tesla, Apple, SONY, and YouTube were the top 5. Tesla and Apple products definitely have a wide base of loyal fans. Tesla cars are definitely not among the most widely used means of transportation in the world. The difference between Tesla and other car manufacturers is the link between the brand and the users. People who own a different model of car are fans or sympathizers of Tesla.

In the mobile phone market, the competition is mainly between Apple and Samsung. It may surprise you to learn that Samsung is ranked as high as 85th. Apple phone owners are proud of the brand and are often willing to stick the company's logos on their cars. Such strong brand loyalty is not evident in the case of Samsung. It could also be interpreted that people perceive Samsung products as consumer goods. The difference is not necessarily about the quality of the products, but about the relationship with the brand.

The difference is not about the number of users, but brand loyalty. A brand that has a smaller number of users, but who are loyal to the brand and share a similar vision, may receive a higher rating. In Q2 2022, Samsung had a market share of 21%, while Apple only has 16%. Of course, other products from these brands need to be taken into account. Let's add that the android brand took 10th place.

It probably won't surprise you that the top 30 include mainly car manufacturers and brands related to the entertainment industry, computers, and the internet. These are all things we use every day. In addition to Tesla, you'll also find Mercedez, Porsche, Jaguar, Mazda, etc. in the top 30. As for the gaming industry, there are brands like Netflix, Sega, Nintendo, Prime, etc.

It is pleasing that cryptocurrencies have made it into the report. Cardano took 26th place. Bitcoin 30th place. It is worth noting that Ethereum took up 120th place.

Why is Cardano ahead of Bitcoin?

As we have already explained, the report does not take into account the number of people who have ever heard of the brand. It does not take into account the number of users, but the relationship with the brand. That explains a lot. The Cardano community is very engaged and the relationship with the project is very strong. It is important to stress that the community is open and, unlike Bitcoin, is not toxic. Open positive debate, sharing the mission of the Cardano project with newcomers, and the desire to build, are completely different kinds of relationships with the brand than waiting for the value of BTC coins to rise.

Needless to say, many people buy T-shirts with the Bitcoin logo and stickers can be found in many places. As far as the project logo is concerned, Bitcoin is definitely the most visible. There are many podcasts and video channels that are dedicated only to Bitcoin. I can't rationally explain why all of this hasn't helped Bitcoin to rank higher. In the case of Bitcoin, I see a lot of positives, but I can't ignore the negatives. That's one possible explanation.

The bitcoin community is often concerned only with charts and pursuing the single goal of increasing the value of BTC coins. The debate is often very negative towards other projects, which prevents newcomers from building a strong relationship with the Bitcoin brand. Becoming a maximalist is essentially ignoring technological progress and becoming a fan of a single projection forever. That's a relatively strong commitment that doesn't come naturally in the world of technology or money. Not everyone wants to identify as a toxic maximalist. Unfortunately, key members of the community promote and demand this view.

Many people desire to become rich and wish to see the value of BTC coins grow. However, they follow their own selfish interests more than Satoshi's original vision. Thus, they may only see Bitcoin as a means to enrich themselves. The Bitcoin community is divided. Former prominent members are leaving Bitcoin and are being publicly disrespected. Protocol issues are being overlooked and not addressed. It's possible that newcomers have doubts about Bitcoin, or aren't entirely convinced that it's the best thing for our future.

Cardano ranked better than Bitcoin because the community shares the vision of the project. The mission is the strongest thing about Cardano. Cardano is not presented as a path to wealth for individuals but is a technology that can help everyone, especially those who need it most. Every cryptocurrency has a speculative component to it. Even in the Cardano community, there are people who are only speculating and want to see growth in ADA value. The view that prevails in public is that the mission of the project is the most important thing, not speculation. I see this as the key difference between Bitcoin and Cardano.

The Cardano community believes that an alternative social and financial operating system can be built based on new technologies. Adoption by developing countries is proof that this mission is being slowly achieved. The Cardano community enthusiastically shares the successes of the IOG team and contributes to the success by working on their own projects. From the Bitcoin community, these efforts are viewed negatively and many even talk about scams. They say all we need is Bitcoin. While the first layer of Bitcoin is evolving very slowly and the team is not looking to make major technological changes, Cardano will fundamentally change literally every year. The team is to prepare a new roadmap. The Bitcoin community's reaction to any new technological development is negative, which a rational-thinking person cannot understand. Any effort to change the world for the better is desirable for the majority of the population. Cardano development is not funded by people's taxes, so public funds are not spent. Cardano can be seen as a collaborative effort between the team and the community.

Originally published on Cexplorer.io

Link: https://cexplorer.io/article/cardano-is-the-highest-ranking-crypto-brand