The most recent Brand Intimacy Study done by MBLM had an intriguing result in the world of cryptocurrencies as it showed that Cardano (ADA), which had a quotient score of 52.6, was the highest-ranking crypto brand among those polled.
The Brand Intimacy Study ranks the perceived degree of intimacy of more than 600 of the top companies in the world according to the perception of their consumers using artificial intelligence and big data. To calculate an intimacy quotient score between 0 and 100, the research examines emotional connection, archetypes, and phases (sharing, bonding, fusing). The emotional connection to a brand is more powerful the higher the score.
The “crypto” category was introduced to the Brand Intimacy Study for the first time this year, and according to MBLM, the sector’s performance “reveals how people connect with various crypto brands and tests their loyalty amid the ebbs and flows of the turbulent crypto environment.”
With an average intimacy quotient score of 37.7, cryptocurrency outperformed the cross-industry average of 36.8 to place eighth overall among a total of 19 distinct industries. The Financial Services industry was ranked 14th and had an average score of 32.1.
According to MBLM, “this may indicate that younger generations are starting to turn away from conventional financial services in favor of cryptocurrency.”
Looking more closely at the cryptocurrency statistics, Cardano’s quotient score of 52.6 outperformed a number of other well-known cryptocurrency brands like Bitcoin, which had a score of 51.9, and Ethereum, which had a score of 42.8.
Cardano came in at number 26, Bitcoin at number 30, and Ethereum at number 120 on the overall list of brands. Polkadot (DOT) outperformed Ethereum and came in at position 111 with a quotient score of 43.5.
In terms of total brand ranking, Tesla came in second with a score of 67.5, followed by Apple with a score of 65.3, and Disney with 68.1.
Archetypes of the crypto industry
In order to get its quotient score, the Global Intimacy Study considered six distinct archetypes: indulgence, identity, nostalgia, fulfillment, ritual, and enhancement.
MBLM claims that fulfillment, which “focuses on surpassing expectations and providing exceptional, efficient service,” is the prevailing model for the crypto sector. In the crypto space, enhancement, which emphasizes how using the brand improves consumers’ life, performed very well.
MBLM stated,“Cardano has developed stronger emotional ties, which has catapulted it to the top of the cryptocurrency rankings despite the fact that Bitcoin is the most frequently owned and traded digital asset.”
“Leans greatly toward luxury, which concentrates upon pampering and satisfaction,” is how Cardano’s main archetype is best described. When compared to Bitcoin, which “did the best in the ritual typology, showing the brand has grown more embedded in people’s everyday lives and is a vital part of their daily life,” this was exactly the opposite.
One of the key contributing elements for the extreme contrast in these two projects’ top archetypes, according to MBLM, is the age gap between them.
“As the usage of Bitcoin grows more commonplace, it is recognized as a reliable means of payment. Cardano is fresh, thus investing in it seems like a particular joy or luxury,” according to the research.
“Cardano’s cheaper cost and novelty provide its users the freedom to take a chance without having to put as much money up front in the expectation that the coin’s value would soar. Its marketing is also friendlier, fostering a connection and emphasizing the currency’s audacious goals.”
Comments are closed.