Cardano is the top-ranked crypto in terms of “Brand Intimacy”

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(Kitco News) – The latest Brand Intimacy Study conducted by MBLM had an interesting result in cryptocurrencies as it revealed that the top ranked crypto brand among respondents was Cardano (ADA), with a quotient score of 52.6.

The Brand Intimacy Study uses artificial intelligence and big data to rank the perceived level of intimacy of more than 600 of the world’s leading brands by their customers. The study measures intimacy by reviewing emotional connection, archetypes and stages (sharing, bonding, merging) to determine a quotient score between 0 and 100. The higher the score, the more intense the emotional relationship with a brand.

This was the first year the “crypto” category was added to the Brand Intimacy Study, and the sector’s performance “reveals how users engage with different crypto brands and test their loyalty in the ebb and flow of the volatile crypto landscape,” according to MBLM.

Crypto as a whole was ranked eighth out of a total of 19 different industries, outperforming the cross-industry average of 36.8 with an average intimacy quotient of 37.7. The financial industry was ranked 14th with an average score of 32.1.

“This may point to younger generations moving away from investing in traditional financial services in favor of crypto,” MBLM said.

Delving deeper into the cryptocurrency data, Cardano’s quotient score of 52.6 ranked several more well-known cryptocurrencies, including Bitcoin (BTC), which has a quotient score of 51.9, and Ethereum (ETH), with a score of 42.8.

In the full list of tokens, Cardano was ranked number 26, while Bitcoin was ranked number 30 and Ethereum was number 120 on the list. Polkadot (DOT) also ranked Ethereum with a quotient score of 43.5, giving it a rank of 111.

In comparison, the top-rated brand was Disney, with a score of 68.1, followed by Tesla, with a score of 67.5, and Apple, which scored 65.3.

Archetypes for the crypto sector

The Global Intimacy Study looked at six different archetypes to help calculate quotient scores: Indulgence, Fulfillment, Identity, Nostalgia, Ritual, and Enhancement.

According to MBLM, the dominant archetype of the crypto industry is fulfillment, “which is about exceeding expectations and delivering superior, efficient service.” Enhancement, which focuses on improving customers’ lives through the use of the brand, was also a top performer in the crypto category.

Despite Bitcoin being the most widespread and traded digital asset, Cardano has built stronger emotional connections, which propelled it to the top of the crypto ranking, MBLM said.

The dominant archetype for Cardano “leans heavily toward indulgence, which centers around well-being and fulfillment.” This was quite different from Bitcoin, which “performed best in the ritual archetype, suggesting that the brand has become more ingrained in people’s daily lives and is an important part of their daily existence.”

MBLM pointed to the age difference between these two projects as one of the main influencing factors leading to such a stark difference in their best archetypes.

“As Bitcoin becomes increasingly accepted as a trusted form of currency, its use becomes a normalized habit. Meanwhile, Cardano’s novelty means investing in it feels like an indulgence or special thrill,” the report said.

“Cardano’s lower price and novelty gives users the opportunity to indulge in taking a risk, without having to invest so much money up front, in the hope that they will see the coin’s price skyrocket. The message is also more inviting, encouraging a conditions and highlights the currency’s bold ambitions.”