Polkadot is now the first blockchain platform to rebrand thanks to a bounty program according to the announcement that the platform made and also said that it hired the leading design agency Koto to give the blockchain platform the revamp it needed. However, all of the decisions regarding the revamp will be approved by the Polkadot community and its on-chain representatives, as we can see more in our Altcoin news below.
Polkadot is a multichain blockchain platform that is focused on cross-chain interoperability and it is set to get a new look. While blockchain rebranding isn’t all that big of news, Polkadot’s approach to getting the new design is most certainly interesting. Polkadot is now the first blockchain that wants to revamp its design by getting the vote of the community. The design overhaul was announced on the Bounty Program where the Koto Studio received a grant to come up with a new brand image for the blockchain.
According to the Official Polkadot bounty motion, Koto will provide leverage for the input and insights from the community, and to make the process even more efficient, the community will select four representatives whose input will be of extreme importance in shaping the Polkadot brand. Katie Butler, the head of marketing at Moonbeam which is the major project that will be launched on Polkadot, called this move “unprecedented” because this is the first time all network participants can weigh in on the evolution. She will act as one of the four representatives that will curate the output from Koto.
According to the official description of the bounty, the rebranding project will be divided into three phases: immersion, development, and delivery. The company said that the on-chain bounty of $12,208 is set to pay in DOT’s token which only covers the first phase. The latter two phases will be better suited for off-chain coordination adding that the Web3 Foundation committed to funding these phases separately. The first phase will take up to three months to complete so it means that 7 months could go by until Polkadot gets a new identity. The client director at Koto, Rosie Connors said:
“The most exciting challenge for this project is creating a truly decentralized brand that empowers the Polkadot community to take ownership without it becoming unrecognizable or confusing.”
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Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.
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