Polygon on January 22nd posted a video on the social media platform X which has caused quite a stir in the market.
In what seems to be a failed marketing tactic, Polygon’s video features an AI-created video of Donald Trump praising the ecosystem. However, the video did not land well with market participants, with many criticizing Polygon for the move.
In the video, Donald Trump is seen saying praises for Polygon like “smoothest network and no network failure.” But the community was quick to call out the move as a “bad idea” and ” bad marketing”.
Polygon’s Move Comes As Trump Signs Couple of Pro-Crypto Orders in First Few Days of Office
The marketing move by Polygon comes at a time when Donald Trump has taken a couple of few pro-crypto steps after taking the office on January 20th.
A good example of this is the presidential pardon that was granted by Donald Trump to Ross Ulbricht, the inventor of the Silk Road online marketplace.
In 2015, Ulbricht, a well-known personality in the Bitcoin and libertarian communities, was convicted of marketing illegal substances online and was serving a double life sentence without the possibility of release.
Trump’s promise to court the Bitcoin industry throughout his campaign is fulfilled by this pardon.
Additionally, for crypto privacy supporters, the court’s decision to overturn OFAC sanctions against Tornado Cash is a significant victory.
Polygon’s move might have been an attempt to make it look like the President was praising the ecosystem while taking other crypto friendly decisions.
Nevertheless, the market did not respond in the the way Polygon might have expected.
Polygon’s Recent Partnership With Reliance Jio
Polygon has seen a rise in fame recently after Indian billionaire Mukesh Ambani’s Reliance Jio decide to partner with the ecosystem, furher cementing its market position.
The new incentive token, JioCoin, has caused a stir in the Indian cryptocurrency market when it was introduced by Jio Platforms on the Polygon blockchain network.
Although there has been no formal announcement from the corporation about its potential use, the debut has sparked discussions among users.
This comes after Polygon Labs and Jio recently teamed up to enhance Jio’s services by integrating Web3 and blockchain technology.
In addition to introducing Web3 capabilities to some of the current goods and services owned and maintained by JPL, Jio’s agreement would use Polygon’s blockchain technology to create distinctive Web3 offerings for Jio’s current 450+ million customers.