Polkadot aims to import TikTok’s experience into the Web3 ecosystem. This has triggered a discussion around the listed value of DOT, its native cryptocurrency. The idea is to craft an innovative new version of TikTok on the Polkadot network. For this, they have also expressed interest in buying the platform and rebuilding it.
Frank McCourt, the Executive Chairman of McCourt Global & the Founder of Project Liberty, expressed their confidence by saying that the network is ready to crunch the volumes on social media platforms by putting forward the scaling potential of Polkadot’s technology. What could work well is the ability to own and control the data directly. This means that creators will have more control over their content in the world of Web3.
Identity and personal data will be controlled with blockchain technology. This announcement has further triggered speculation about DOT registering a 10x rise in the token value. It is currently listed at $7.03, with a dip of 0.67% in the last 24 hours. However, it has risen by 3.675 in the last 7 days and 3.54% in the last 30 days. Plus, the 24-hour trading volume has jumped by 21.84% at the time of articulating this piece.
A 10x rise in the value could potentially fetch a larger return to holders. This is merely a Polkadot projection with no definitive timeline in sight. Polkadot (DOT) has been trading in red for the majority of the last 24 hours. Not that a bull run cannot be achieved by rebounding, but it is better to stay cautious amid high volatility.
The 10x growth also gains strength from other advancements that Polkadot has bagged in recent times. For instance, the Founder of Global Accelerator has shared their intention to launch the first Web3 Founder Academy. It will be done in association with Polkadot. Details are yet to be made public, but it is safe to assume that Polkadot’s role will take a more oversized shape and accommodate a larger volume of activities.
Three materials are auctioned: JAM Gray Paper, Ethereum Yellow Paper, and Polkadot White Paper. All the proceeds will be donated to charity. Still, they back the bullish sentiments of Polkadot with a higher number of activities and commitment to enhance social value. The upcoming appearances of Polkadot can define its bullish movement – Consensus 2024 and Polkadot Decoded.
Polkadot Decoded will take place from July 12 to July 12, 2024, in Brussels. More than 100 speakers and a hundred blockchain projects will appear under a single roof. Consensus 2024 is slated to commence on May 29, 2024, and conclude on May 31, 2024. Polkadot will exhibit merchandise, ecosystem projects, and its brand at booth number 1209.
Read the full article here
