One of the recent notable events in the crypto world is the advertisement released by the Algorand Foundation targeting Bitcoin, Ethereum, and Solana. The Algorand Foundation has become the focal point of discussions with its harsh criticisms of the “big three” crypto networks. The ad claims these networks are too slow, too expensive, or prone to failure.
Ad Released on YouTube
On May 23, the ad titled “When Blockchains Meet the Real World, Only One Delivers” was released on YouTube, showing people trying to pay with three different crypto assets at a supermarket checkout.
The person trying to pay with Bitcoin is told the transaction will take 27 minutes, while the person using Ethereum is informed the transaction will cost $112. The customer choosing Solana cannot complete the payment due to a failed transaction. The ad ends by showing customers using Algorand completing transactions instantly with the message “Instant results. Low fees. Designed for the speed of life.”
At the end of the ad, the appearance of political consultant and entrepreneur Anthony Scaramucci is a notable detail. Scaramucci’s post about “SOL ETF” on X a few hours after the ad led some commentators to call it hypocritical.
Ad Viewed Over 700,000 Times But Faces Criticism
The ad garnered significant attention with over 700,000 views on X. However, there are reactions to the ad. One user criticized Algorand for spending over $100,000 on this ad while failing to fund its main Blockchain explorer, saying, “This is not the way, guys.” Chainlink community liaison Zach Rynes questioned the ad’s impact, stating, “People who don’t use crypto will distance themselves from it with a negative impression without even knowing it’s a crypto ad.”
On the other hand, famous trader Fiskantes described Algorand’s negative ad campaigns against its competitors as a “low move,” arguing that it shows a zero-sum mentality and a lack of original ideas. According to him, every Blockchain claiming high TPS can claim what Algorand does. However, when it comes to practice, the validity of these claims will be questioned.
Despite the criticisms, the ad also received some positive comments. Kernel Edge co-founder Hilmar Ingimundarson stated that the Algorand team took the right step in marketing. According to DefiLlama data, the total value locked in the Algorand network is only $96 million. This amount is quite low compared to $65 billion in Ethereum and $4.8 billion in Solana. Algorand’s move reminded me of a cat challenging a lion or a mouse challenging a cat.
